Ripple Science, an Ann Arbor, MI-based SaaS clinical research management platform provider, completed a $2.5M equity financing round.
The round was led by Dundee VC, with participation from Mercury Fund, SpringTime Ventures, Red Cedar Ventures, M25, Revolution’s Rise of the Rest Seed Fund and previous investors including ID Ventures, Invest Michigan, and the MINTS fund out of the University of Michigan. Greg Beaufait, Partner at Dundee VC, will join the Ripple board.
The company intends to use the funds to scale sales and marketing efforts, expanding its commercial reach among private and public clinical research organizations.
Led by Peter Falzon, President and CEO, Ripple Science is a HIPAA compliant, SaaS platform that saves researchers time by effectively managing all levels of participant recruitment and retention for clinical trials. The company provides real-time analytics to track progress and mitigate risks and empowers research and clinical trial teams through data-driven insights and a centralized communication platform. With Ripple, researchers are automatically building their own participant registries which can be shared and leveraged for future trials. Its flagship product, Ripple, is currently being used by research investigators at more than 100 academic and research centers around the world, including Johns Hopkins University, Pennsylvania State University, University of California Los Angeles, the Brain Research Foundation Canada, University of East Anglia (UK), Cognito Therapeutics (Boston, MA) and the University of Michigan.