Feb 14, 2019
Teckro has raised a fresh round of funding to accelerate its international expansion and product development. The $25 million Series C round was led by Northpond Ventures with participation from Founders Fund, Sands Capital Ventures, Bill Maris’ Section 32 venture fund, and Borealis Ventures. Teckro’s total funding now stands at $43 million.
The company provides technology to improve the speed and accuracy of clinical trials, working with the top pharmaceutical and biotech companies globally. Teckro has grown rapidly since it was founded by brothers Gary and Nigel Hughes and Jacek Skrzypiec in 2015. The founders sold their previous company, Firecrest, to global clinical research giant ICON plc in 2011.
Teckro is used in clinical research sites around the world in all major countries. There has been a 240% increase in the number of clinical trials on the Teckro platform over the past 12 months. The company employs more than 100 staff across its three global bases, including its global headquarters in Limerick, Ireland, its engineering hub in Dublin, Ireland and its US office in Nashville, Tennessee.
Speaking on the funding announcement, CEO and co-founder Gary Hughes said the company will use the Series C round to further the company’s mission to deliver solutions that deliver meaningfully impact and improve processes for all stakeholders involved in clinical trials. “Despite all the talk of digital transformation, the actual experience of participating in a clinical trial if you are a doctor, research nurse or patient has changed little in the last 20 years.
The industry still relies heavily on paper, on working off retrospective data, and there is still an over-reliance on sending CRAs to busy research sites. This approach, together with the plethora of point solutions that get ‘bolted on’, only adds to the complexity and disjointed experience of research sites and patients.
Our vision is to be at the center of all site and patient interactions in a clinical trial. We are building a new digital infrastructure and toolset for clinical research that makes the conduct of trials simpler, more transparent and more inclusive.
Ultimately Teckro is about ensuring that effective drugs are efficiently and effectively moved from the lab to the patient so that lives be saved.”
Michael Rubin, M.D., Ph.D., Founder & CEO of Northpond Ventures commented: “Teckro is building a digital infrastructure that can transform how clinical trials are conducted. We are excited by the team and what they have achieved to date and look forward to supporting them on this important mission.”