Funding round
Medable Growth
Reported as "Growth Equity"
Medable, which works in decentralized clinical trial platform development in Palo Alto, raised $25M in a Growth round announced on 4 May 2020, led by GSR Ventures. 2 firms took part, 1 of them already investors. It is Medable's second venture round on record; the one before was a Series A in Jul 2016.
$25M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Medable did not disclose a valuation in this round. It came 46 months after Medable's Series A. It is 5.0% of the $498M Medable has raised in the venture rounds on record. Medable raised again 6 months later: a Series C round of $91M in Nov 2020. Its next priced round, a Series D in Oct 2021, valued it at $2.10B.
Medable's funding rounds
Medable has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
GSR Ventures led the round with 1 other firm. PPD, Inc. had backed Medable before.
Lead investor
- GSR Ventures new investor
Also in the round
- PPD, Inc. existing investor
Joined the board: Dr. Sunny Kumar (GSR Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
270 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 53% of the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pipedrive Tech Companies | 18 May 2020 | $1.50B | not disclosed | Vista Equity Partners |
| Tech Companies | 12 May 2020 | $144M | not disclosed | Spectrum Equity |
| Tech Companies | 7 May 2020 | $72M | not disclosed | not named |
| Tech Companies | 4 May 2020 | $45M | not disclosed | Riverwood Capital |
| Tech Companies | 21 May 2020 | $42M | not disclosed | Morgan Stanley and PeakSpan Capital |
| Tech Companies | 13 May 2020 | $37M | not disclosed | Chrysalis Investments |
| Tech Companies | 21 May 2020 | $31M | not disclosed | not named |
| Tech Companies | 27 May 2020 | $24M | not disclosed | Vistara Growth |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Medable raise in its Growth round?
Medable raised $25M in its Growth round, announced in May 2020.
Who led Medable's Growth round?
GSR Ventures led it, with PPD, Inc..
What was Medable's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
270 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $47M, and this round was 53% of the median.
Did Medable raise again after this round?
Yes: a Series C round in Nov 2020 of $91M.