Comprehend Systems has some financial firepower behind the upstart's big plans to alter clinical research data analytics. The Palo Alto, CA-based firm formally announced that it has brought in $1.2 million from some of the biggest names in seeding Silicon Valley start-ups.
Founded last year, Comprehend says that it plans to use the seed funding to further develop its main product, called Comprehend Clinical, which enables clinical researchers such as drug companies and contract research organizations to visualize and analyze data from studies. Stanford University has been an early adopter of the upstart's technology, which is intended to streamline what can be a cumbersome task of getting a single view of clinical data from disparate sources such as electronic data capture (EDC) products and clinical trials management systems (CTMS).
Comprehend Systems secured most of the funding for this round earlier this year, as we reported last month. The company's founding team participated in the Y Combinator start-up program, which has churned out some of the most promising young tech firms in the country. And early-stage investors often swoon over the products of the program. Comprehend has attracted investments from Y Combinator, Start Fund, SV Angel, Yuri Milner, Menlo Ventures Talent Fund, Paul, Buchheit, Garry Tan, Quotidian Ventures and Crosslink Capital, among others.
FierceBiotechIT picked Comprehend as one of its 5 start-ups to watch in October. For that special report, Comprehend CEO Rick Morrison talked about the advantages this system offers for developers that want integrate data from EDC and CTMS efficiently, without having to stack multiple analytics and database tools on top of each other. "By combining it all together, we can actually save a lot of cost," Morrison told FierceBiotechIT. "The things that companies used to do in several different steps is now in one tool."
- here's the release
Special Report: Comprehend Clinical - 5 emerging biotech IT firms to watch