Clinical Trials Software Company Florence Raises $7.1 Million

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Credit: Florence/CRN

Florence, which provides a software platform for clinical trial sites, announced it raised $7.1 million in Series B financing.

The funds were raised by Fulcrum Equity Partners, who led the round. Atrium Health and Bee Partners participated in the round. The funding will be used to broaden Florence’s product offerings, and expand its sales, marketing and customer success teams.

Florence helps expedite clinical trials using software for managing document and data flow between research sites and sponsors.

“Clinical drug trials are slower and more expensive than ten years ago, halting access to cutting edge medicines,” said Florence CEO Ryan Jones, in a statement. ” We are on a mission to fix this. Over the past five years, we’ve built the largest network of connected clinical trial sites through our eBinders platform.” Florence’s investors, according to Jones, will help the company digitally connect sites to pharmaceutical sponsors and clinical research organizations, creating a new type of research network accenting progress.

The Atlanta, GA based startup is used by more than 5,000 investigators to manage eRegulatory/eSource for over 1,200 studies.