ATLANTA– Florence, a leading site connectivity platform in clinical trials, today announced the close of a $80 million Series C funding round led by Insight Partners, a global venture capital and private equity firm focused on investing in ScaleUp software companies. Existing investors Fulcrum Equity Partners, Bee Partners, and Flashpoint also joined this round. The investment will further Florence’s mission of connecting pharmaceutical companies and study sites, paving the way for more decentralized trials and more efficient drug development lifecycles.
“Remote connectivity and virtual collaboration became a requirement after COVID-19. With one in three study sites around the world using our software, we were able to help,” said Ryan Jones, co-founder and CEO of Florence. “Not only do pharmaceutical companies, clinical research organizations, and sites use Florence to manage their COVID studies, they also leveraged our software to ensure that hundreds of other clinical trials across every disease area were able to progress as the industry pivoted to remote work. This investment will allow us to continue connecting research stakeholders, advancing cures, and giving investigators more time for who matters most: patients.”
Florence has the opportunity to impact cures globally because of the large number of clinical trial sites managing operations on its network. “We have a shot at helping more clinical research teams increase their effectiveness than any other technology,” said Blake Adams, VP of Marketing at Florence. “This investment will help us reach that goal. As a result, I’m confident we will see new medicines, devices, and therapies hitting the market at a faster pace while also reducing development costs.”
