Right after announcing the final close of its €113 million fund, GP Bullhound has disclosed a €3 million investment in Monocl, a software startup that aims to connect all stakeholders in the life science industry.
The company says it is already working with some of the largest companies in the sector, including Pfizer, Novartis, Takeda and AstraZeneca. Monocl essentially enables industry professionals to target and engage opinion leaders, physicians and scientists in a way that streamlines development cycles, increases efficiency and boosts profitability.
The funding will be used to expand Monocl’s presence across the Atlantic, which includes setting up a US HQ in Boston, Massachusetts. The investment will also be used to expand sales, marketing, customer service and product development teams in targeted markets.
Interestingly, Monocol co-founder and CEO Björn Carlsson says the company was not looking to bring new investors on board: "This investment round was not planned, but the timing of it is perfect in light of our US expansion and with my relocation to the US this August."
Joakim Dal, Partner at GP Bullhound, added: "Since we first spoke to Björn last year, Monocl has been on our minds. Monocl is able to translate a process that would take two to three weeks into minutes while at the same time providing up-to-date access to data." About GP Bullhound GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For m