To date, the company has raised $17.8m. The latest funding round was led by Sands Capital Ventures with participation from Bill Maris’ Section 32 venture fund, Founders Fund, and private investors.
Gary Hughes, CEO and co-founder of Teckro told Outsourcing-Pharma.com the funding will be used to advance development of the company’s platform, which uses information retrieval and machine learning technologies to improve clinical trial conduct.
“We have a number of products in advanced development which will have an interesting data analytics dimension,” added Hughes.
The funds will also be used to expand the company’s operations in the US and Asia and to onboard additional studies, Hughes said.
“Our platform can support all types of trials through Phase I to IV but we are seeing most demand in the Phase II and Phase III space because the need for effective site engagement is so critical in these studies,” he added.
“We believe that technology should replace the burden in conducting clinical trials rather than add to it,” said Hughes. “Technology should empower sites to do what they do best, that is, treating patients.”