Hawthorne Effect, a decentralized clinical trials platform, announced the successful closing of a $20 million Series A funding round.
The new investment brought the company’s total funding to $24 million. It was led by Northpond Ventures, a science and technology-driven venture capital firm, with participation from SignalFire and P5 Health Ventures.
The funding will be used to accelerate growth and help scale the operations, according to the company.
Hawthorne Effect’s core solutions are Hawthorne Cloud and Hawthorne Heroes. The Hawthorne Cloud platform has been used to perform more than 25,000 assessments in more than 15,000 in-person or virtual visits for over 50 clinical trials across a wide variety of therapeutic areas and phases. It manages all aspects of the clinical trial journey for patients and investigators, from recruitment through study exit (in-person, telepresence, and remote geographies).
Hawthorne Heroes is a specialty network of multi-disciplinary medical professionals. According to the company, the Hawthorne Heroes capabilities include complex clinical and physical treatments and assessments such as medical histories; consenting; ultrasound imaging; neurological, cognitive, and functional assessments; complex blood draw and sample management; adverse event reporting, and more.
“We figured out that clinical trial continuity has the same root cause as equity gaps in health care delivery – accessibility and convenience for patients,” said Jodi Akin, CEO, and founder of Hawthorne Effect.
Jodi Akin added: “While there is great momentum in the adoption of decentralized clinical trials, apps just don’t draw blood, nor do they reach the equity divide. Hawthorne Effect uniquely offers the only technology-enabled distributed professionals’ model that addresses these common barriers in clinical research. As a result, we help sponsors deliver complete and accurate trial assessments to benefit the entire clinical trial ecosystem. Our solution also addresses the historical disparities in representation when it comes to patient populations, and the future of public health hinges on closing this gap.”
Curebase, a decentralized clinical trials platform, announced a $15 million Series A funding round. The financing round was led by GGV Capital with Xfund, Bold Capital, and several other institutional funds, bringing the total raised to $19 million.