MedNet Solutions, a Minnetonka, Minn.-based eClinical technology company, raised $16.5m in its second round of funding.
The round was led by Arrowroot Capital with participation from new investor Cohesive Capital Partners and existing backers.
The company intends to use the funds to accelerate the continued growth of its solutions.
Founded in 2001 and led by John M. (Rob) Robertson, President and CEO, MedNet Solutions provides a SaaS-based eClinical technology platform (iMedNet) that supports the entire spectrum of clinical research to improve the efficiency of studies and registries of all types and sizes.
The company serves pharmaceutical, medical device, biotechnology and Contract Research Organizations (CROs) around the world.