Funding round
Medable Growth
Reported as "Growth Equity"
Medable, which works in decentralized clinical trial platform development in Palo Alto, raised $78M in a Growth round announced on 20 Apr 2021, led by Sapphire Ventures. 5 firms took part, 3 of them already investors. It is Medable's fourth venture round on record; the one before was a Series C in Nov 2020.
$78M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Medable did not disclose a valuation in this round. It came 5 months after Medable's Series C. It is 16% of the $498M Medable has raised in the venture rounds on record. Medable raised again 6 months later: a Series D round of $304M in Oct 2021, at $2.10B post-money.
Medable's funding rounds
Medable has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Sapphire Ventures led the round with 4 other firms. GSR Ventures, Pharmaceutical Product Development and Streamlined Ventures had backed Medable before.
Lead investor
- Sapphire Ventures backs 148 venture-backed companies new investor
Also in the round
- backs 77 venture-backed companies new investor
- GSR Ventures existing investor
- Pharmaceutical Product Development existing investor
- backs 72 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
392 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 1.3 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| G42 Tech Companies | 14 Apr 2021 | $800M | not disclosed | Silver Lake |
| ShareChat Tech Companies | 8 Apr 2021 | $502M | $2.10B | not named |
| Mavenir Tech Companies | 21 Apr 2021 | $500M | not disclosed | Koch Strategic Platforms |
| Tech Companies | 8 Apr 2021 | $200M | not disclosed | Sumeru Equity Partners |
| Tech Companies | 20 Apr 2021 | $173M | not disclosed | Insight Partners |
| Druva Tech Companies | 19 Apr 2021 | $147M | $2.00B | La Caisse |
| Tech Companies | 29 Apr 2021 | $130M | $1.20B | Blackstone |
| Keyfactor Tech Companies | 15 Apr 2021 | $125M | not disclosed | Insight Partners |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Medable raise in its Growth round?
Medable raised $78M in its Growth round, announced in Apr 2021.
Who led Medable's Growth round?
Sapphire Ventures led it, with Obvious, GSR Ventures, Pharmaceutical Product Development and Streamlined Ventures.
What was Medable's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
392 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 1.3 times the median.
Did Medable raise again after this round?
Yes: a Series D round in Oct 2021 of $304M at $2.10B post-money.