Atlanta-based Florence, maker of software that supports clinical research with remote connectivity and electronic document management, scored $80 million in Series C funding. Insight Partners led the round with participation from Fulcrum Equity Partners, Bee Partners and Flashpoint.
This brings the company's total funding pot to roughly $88 million. It closed its $7.1 million Series B round in 2019.
WHAT IT DOES
The company is focused on decentralized clinical trials. Its main function is helping to connect pharma companies with study sites. Stakeholders are able to tap into the platform to remotely connect to research and collaborate with colleagues on documents, data and workflow.
The tool was designed to help with workflow issues including SOPs, contracts, credentials and employee onboarding. It was also designed to help with regulatory compliance.
WHAT IT'S FOR
The company plans to use the new funds to grow out its business and work with more clients