Funding round
Medable Series C
Medable, which works in decentralized clinical trial platform development in Palo Alto, raised $91M in a Series C round announced on 19 Nov 2020, led by Sapphire Ventures. 5 firms took part. It is Medable's third venture round on record; the one before was a Growth in May 2020.
$91M
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 6 months after Medable's Growth. It is 18% of the $498M Medable has raised in the venture rounds on record. Medable raised again 5 months later: a Growth round of $78M in Apr 2021. 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
Sapphire Ventures led the round with 4 other firms.
Lead investor
- Sapphire Ventures backs 148 venture-backed companies new investor
Also in the round
- GSR Ventures new investor
- PPD, Inc. (Nasdaq:PPD) new investor
- backs 72 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
425 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $54M, and this round was 1.7 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chainalysis Tech Companies | 23 Nov 2020 | $100M | $1.00B | Addition |
| Tech Companies | 1 Nov 2020 | $77M | $706M | BOND |
| Verbit Tech Companies | 19 Nov 2020 | $60M | not disclosed | Sapphire Ventures |
| Tech Companies | 9 Nov 2020 | $50M | not disclosed | Tencent and Legal & General |
| Tech Companies | 18 Nov 2020 | $48M | not disclosed | not named |
| Tech Companies | 24 Nov 2020 | $45M | not disclosed | Lead Edge Capital |
| Tech Companies | 11 Nov 2020 | $33M | not disclosed | Silversmith Capital Partners |
| Tech Companies | 1 Nov 2020 | $27M | not disclosed | Jerusalem Venture Partners and K1 Investment Management |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Medable raise in its Series C round?
Medable raised $91M in its Series C round, announced in Nov 2020.
Who led Medable's Series C round?
Sapphire Ventures led it, with GSR Ventures, PPD, Inc. (Nasdaq:PPD), Streamlined Ventures and ACVC Partners.
What was Medable's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
425 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $54M, and this round was 1.7 times the median.
Did Medable raise again after this round?
Yes: a Growth round in Apr 2021 of $78M.