Comprehend raises $21m Series B to improve clinical development
August 18th, 2014
Today we’re happy to announce that we’ve raised a $21m Series B led by Lightspeed Venture Partners, with support from existing investor Sequoia Capital. Peter Nieh will be joining our board. Peter and the Lightspeed team understood our business immediately, have deep experience with enterprise and health IT, and we’re extremely excited to work with them.
Pharmaceutical and medical device makers spend over $130bn each year collecting and analyzing new data, mostly through clinical trials. It costs over $1.8bn to bring a new drug to market, and over $4bn when you factor in the cost of failures.
The life science industry has been quick to adopt many different types of electronic data collection systems. These systems are generating huge amounts of data filled with insights that can make treatments safer, more targeted, or at the very least, identify treatment failures before they go through an expensive development process. The problem is that companies can’t readily unlock these insights because data are currently siloed in many different systems that don’t work together, and it takes weeks or months of expensive technical work to bring the systems together in very limited ways.
This needs to change. The answer is Comprehend.
Comprehend is a cloud data solution that connects clinical data from disparate sources in real time, enabling everybody in an organization to access up-to-date information relevant to their specific roles. This enables organizations to fundamentally change how they run their business, drastically reduce timelines and costs, and ultimately helps patients getting access to safer and more effective treatments sooner.
We are all patients. From preventive care to chronic treatment, we will all at some point ask our doctors, for ourselves or our loved ones, what the best treatment available is. Better technology means that doctors will have better answers about what is safest, what is most effective, and what each patient can do for better health.
Comprehend is proud to be leading the way in this transformation.
Founder and CEO, Comprehend
PS, we’re hiring.