Teckro announced the completion of its $10 million Series B financing as they expand the digitization of clinical trials. The round was led by Sands Capital Ventures with participation from Bill Maris’ Section 32 venture fund, Founders Fund and private investors. The company has raised $17.8 million to date, and its digital platform is already driving increased speed and accuracy of clinical trials at thousands of research sites in more than 30 countries.
“Teckro’s plans are ambitious and they come with a real passion for improving clinical research,” said Gary Hughes, Teckro CEO. “This investment reflects that ambition as we expand operations and customer footprint globally, continue to invest in our product platform, and drive success for our customers at the top 10 pharmaceutical and biotech companies.”
Teckro uses information retrieval and machine learning technologies to improve the speed and accuracy of clinical trial conduct, helping turn research and development into successful drugs and treatment for the world’s most complex diseases. The Teckro digital platform is deployed across multiple phases of clinical trials, including critical Phase III studies.
Teckro was co-founded by Gary Hughes, Jacek Skrzypiec and Nigel Hughes, a trio of entrepreneurs with demonstrated success and sizable exits. They previously co-founded Firecrest Clinical, acquired by global clinical research organization ICON Plc in 2011. The company is chaired by Peter Gray, Chairman of UDG Healthcare Plc, board member of Jazz Pharmaceuticals Plc, and former CEO of ICON.
Michael Rubin, Managing Partner of Sands Capital Ventures commented: “Teckro is delivering on its vision to transform clinical trials for the benefit of all stakeholders – sponsors, clinicians and patients - which is what makes this investment opportunity so compelling. Teckro’s team has unparalleled experience in the clinical trials space, and as market leaders they are solving some of the industry’s biggest challenges and winning praise from key customers.”
Bill Maris, founder of Section 32, a recently launched venture fund focused on frontier technology, founder and former CEO of GV (formerly Google Ventures), and creator of Google's Calico project, a multi-billon dollar company focused on the genetic basis of aging, added: “The Teckro platform simplifies digital trials, enabling more and more physicians to become clinical researchers and that could lead to great news for patients.”
Teckro partners with leading pharmaceutical/biotech companies and research institutions to simplify the clinical development process – a recognized bottleneck in the effort to bring new, safe and effective drugs to market.
About Sands Capital Ventures
Sands Capital Ventures, a venture capital firm in the Washington D.C. area, partners with transformative and innovative businesses in a concentrated fashion with specific focus on technology, life sciences, and global consumer industries.
About Section 32
Section 32 is a recently launched venture fund focused on frontier technology founded by Bill Maris. Bill is the founder and former CEO of GV (formerly Google Ventures).
About Founders Fund
Founders Fund invests in science and technology companies solving the world’s most difficult problems. The firm and its partners have been early backers of some of the most prominent companies of the past decade, including SpaceX, Palantir, Facebook and Airbnb. Founders Fund pursues a founder-friendly investment strategy that provides maximum support with minimum interference.