Summit Partners has made an investment in Massachusetts and India-based eClinical Solutions LLC, a provider of cloud-based enterprise software and software-driven clinical data services. No financial terms were disclosed.
MANSFIELD, MA and BOSTON, MA (January 21, 2020) – eClinical Solutions LLC, a leading global provider of cloud-based enterprise software and software-driven clinical data services, announced that it has received a minority investment from global growth equity firm Summit Partners. The financing allows eClinical Solutions to support and further expand the growth of its cloud-based Clinical Data Hub platform, elluminate®, and elluminate-enabled data services.
eClinical Solutions helps accelerate the clinical development process, providing clinical data software and technology-enabled data services to more than 100 life sciences organizations. The company’s proprietary Clinical Data Hub, elluminate, helps life sciences organizations integrate and unify all clinical data sources seamlessly, providing real-time data visibility, traceability, transformation and analysis. With hundreds of clinical trials on the platform, elluminate is designed to empower organizations to maximize the value of their clinical data, regain control of the clinical research process and proactively make decisions regarding clinical trials.
“We are delighted to partner with Summit as we enter a new phase of growth,” stated Raj Indupuri, Co-Founder and CEO of eClinical Solutions. “Summit has a long history of helping to accelerate growth and scale businesses. We believe their deep experience in the life sciences and HCIT markets will help propel eClinical Solutions to the next level.”
“Biopharmaceutical companies collect millions of data points throughout a clinical trial; ingesting and normalizing data from a variety of vendors is a complicated, time consuming process – one that often extends the time-to-market for a new drug. We believe the elluminate platform addresses this challenge head on, offering a more holistic view of data across the clinical trial process,” said Mark deLaar, a Managing Director with Summit Partners who has joined the eClinical Solutions Board of Directors.
Jesse Lane, a Principal with Summit Partners who has also joined the Company’s Board, added, “eClinical Solutions is led by an impressive and highly regarded management team with a demonstrated record of excellence and extensive knowledge of the clinical development technology market. We have gotten to know the eClinical Solutions team well over the course of the last several years, and we are honored to partner with Raj, Bob and the entire organization.”
“We founded eClinical Solutions with a mission to help bring new treatments to patients faster, and we’re seeing overwhelming market demand for our solutions,” said Bob Arnesen, Co-Founder and President of eClinical Solutions. “The elluminate platform is designed to provide one source of truth for all clinical data along with intuitive data mapping and comprehensive analytics across data sources. Summit immediately understood our market and our vision. They have already been instrumental in accelerating our journey.”
eClinical Solutions will continue to work to drive efficiency for its customers in the pharmaceutical, biotechnology and medical device industries and to help clients navigate the difficulties of the clinical development process. An established market leader in technology-driven clinical data management, eClinical Solutions has deep experience supporting clinical trials across all phases and therapeutic areas.
About eClinical Solutions LLC
eClinical Solutions is a leading global provider of cloud-based enterprise software and software-driven clinical data services. The elluminate® platform provides life sciences companies with greater control of their clinical trial data. elluminate software and data-driven services have been used by more than 100 life sciences companies on more than 500 trials. For more information, visit www.eclinicalsol.com.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare and other growth industries. Notable life sciences and HCIT companies financed by Summit Partners include Advanced Cell Diagnostics, Clontech, Integrated DNA Technologies, Fermentas International, LakePharma, Modernizing Medicine and Wellcentive. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.