BrightInsight Series-B

This is the BrightInsight pitch deck to raise a $40m series-b round in 2020.

About

BrightInsight offers a globally regulated digital health platform for biopharma and medtech.

Healthcare company BrightInsight just raised $40 million as it builds out a host of digital tools that help drugmakers get experimental treatments and devices through research and over the finish line.

The Series B round was led by venture capital firm Insight Partners with participation from repeat investors New Leaf Venture Partners and Eclipse Ventures. It brings BrightInsight’s total funding to $65 million, according to the company.

The cash will help the company, which spun out of Flex, make hires and invest in technology that helps large drugmakers transition to digital clinical trials faster. Digital clinical trials are carried out away from traditional sites such as clinics and hospitals, and use the internet to monitor participants’ progress, according to the company.

The coronavirus pandemic forced hundreds of trials to pause because it became difficult for patients to show up to hospitals or clinics. Now, pharma and biotech companies are increasingly running them out of people’s homes instead of the traditional venues, Business Insider has reported.

BrightInsight is releasing a new offering designed for that kind of “virtual” research, and the company more broadly acts as a kind of technological host for drug, device, or even software development, CEO and cofounder Dr. Kal Patel told BI. He said it’s similar to how Amazon Web Services is home to Netflix‘s databases and videos.

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