Suvoda LLC, a Conshohocken, Pa.-based SaaS provider of clinical trial software, secured a $40m minority equity investment from Philadelphia-based private equity firm LLR Partners.
The company intends to use the funds for the continued growth and the expansion of its product offerings.
Led by Jagath Wanninayake, President & CEO, Suvoda provides a SaaS solution for pharmaceutical and biotechnology companies to manage complex trial designs and helps optimize the supply chain across the clinical trial continuum, from small investigator-sponsored trials to large global Phase III studies.
The company’s Interactive Response Technology (IRT) system offers a vast array of configurable and customizable features, reporting, and advanced functionality built to support complex and innovative study designs.
In six years, Suvoda has grown organically from a six-person startup to a multi-national company with a staff of 386 in four offices in the U.S. and Europe serving customers and end-users in 62 countries.