CRO Analytics raises cash to advance its cloud-based data service

Biopharma contractor CRO Analytics raised an undisclosed sum in a Series A round to expand its business, which focuses on cloud-based technology for tracking clinical trials.

The company, headquartered in New Hope, PA, recruited local investor Ben Franklin Technology Partners for the round. The fundraise follows a 2014 tranche that drew funds from Ben Franklin and Venture Capital for Bucks County.

CRO Analytics said its latest close follows a successful pilot program with Performer, the company's platform technology that crunches trial performance data to help track benchmarks throughout studies. That allows sponsors and CROs to shift strategies midtrial, according to the company, helping to reduce costs and shorten timelines.

CRO Analytics has expanded its banner technology to include tailored offerings for sponsors, CROs, sites and patients, the company said.

Last year, the company signed a partnership with the Association of Clinical Research Professionals to develop a Performer-based technology that can collect assessments from trial site personnel to collect their assessments of study quality.

- read the statement

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