Last year Medrio closed a $30m equity investment from Questa Capital Management, a venture capital firm. The investment was the first of its kind for the company’s twelve-year history, according to Medrio.
“We’ve seen a lot of demand both in Europe and Asia,” Leslie Olsen, vice president of product marketing at Medrio told us at the SCOPE Summit earlier this month.
Speaking at the company’s booth during SCOPE, Olsen said she was hearing a lot of the same things she usually hears at such events. Mainly, “We need tools that will easily integrate with what we’re doing. That don’t require a ton of training.”
“People who are looking to be more nimble – to fail fast, to make a decision quickly … we help them do that,” she said.
Most recently, the company announced that Linear Clinical Research, an Australia-based Phase I unit, has implemented Medrio’s technology – a move that marked the company's first departure from paper-based data capture.
“[Liner Clinical Research] helped us understand that we have a real footprint there [in Asia],” said Olsen.
“For us we’re really just trying to capitalize on the demand that’s coming to us, just knocking on our door,” she added.
To meet this increasing demand, Medrio is opening offices in Charlotte, NC Heidelberg, Germany, and Tokyo, Japan, and is also increasing its business development headcount.