Limerick-founded Teckro has landed $25 million in a Series C funding round led by Northpond Ventures, with participation from Founders Fund, Sands Capital Ventures, Section 32, and Borealis Ventures. The total amount of funding secured by the company to date stands at $43 million.
Teckro applies machine learning to the field of clinical trials, supposedly making the latter faster and more accurate. Founded in 2015, the startup has users in 80 countries and employs more than 100 people at its offices in Limerick, Dublin, and Nashville, Tennessee.
“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,” said Teckro CEO and founder Gary Hughes. “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.”
The startup plans to use the funding to continue international expansion and hire more people across all functions, including engineering, product, clinical operations, and sales and marketing.