umotif, a London-based patient-centric data capture software platform raised £5 million (~$6.6 million) in a Series A investment round led by existing investor AlbionVC.
Oslo-based DNV GL and existing angel investors also participated in the funding round.
According to the company, the new funding will further accelerate its growth. The funds are expected to fuel further development of the company’s patient-centric and decentralized approach to clinical studies and enable expansion into new study types and more high-demand territories.
The umotif cloud-based platform is used by pharmaceutical and biotech companies to capture clinical research data and keeps research participants engaged through a clinical trial.
With studies taking place in 26 countries from clinical to real-world settings – across more than 25 therapeutic areas – from dermatology and rare disease to oncology and cardiology, the company’s focus is to foster a highly engaging patient experience to capture larger volumes of higher quality data.
In June, umotif raised $3.2 million in a funding round, which Albion Capital led, and the latest funding round brings the company’s total raised to date to over $10 million since its founding in 2012.
Kaare Helle, Venture Director at DNV GL, said: “Healthcare is dependent on digital transformation if it is to move towards being a more sustainable sector. umotif has developed a digital platform that can support new models of clinical trials while also ensuring that the patient voice is heard. We have been impressed with the platform and the management team at umotif who are responsive to customer and patient needs and passionate about making a difference.”
Digital Health companies raised a record $6.3 billion in the first half of 2020. Recently, Castor, an electronic data capturing platform for the clinical trial process, raised $12 million in Series A funding. Two Sigma Ventures led the funding with participation from Hambrecht Ducera Growth Ventures and existing investor INKEF Capital.
Image credit: umotif