BrightInsight raises $40m Series B - MassDevice

Biopharma and medtech digital health platform provider BrightInsight announced today that it raised $40 million in a Series B financing round.

Insight Partners led the funding, while Series A investors New Leaf Venture Partners and Eclipse Ventures also participated.

According to a news release, BrightInsight plans to use the funds raised to significantly scale up team growth and international availability for its platform. Planned growth involves a new regional customer delivery center in London for supporting the company’s European clients.

Other plans include expansion in China and other Asian markets, along with investments in the company’s analytics functionalities to drive insights faster and the launch of new pre-built software assets to allow customers to enhance and accelerate digital clinical trials.

“This Series B will enable significant growth and rapid scaling for BrightInsight at a pivotal time for our company,” BrightInsight CEO & co-founder Dr. Kal Patel said in the release. “As we continue to grow our customer base and projects, this latest funding will be used to expand our company’s footprint globally so we can be closer to our customers.

“The investment from Insight Partners, an active investor in the software as a service (SaaS) space, as well as returning investors Eclipse Ventures and New Leaf Venture Partners, further validates our approach of providing the underlying technology so that our biopharma and medtech clients can concentrate on bringing new treatment innovations to market to transform patient outcomes.”

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