Greenphire, a Philadelphia, PA-based company that develops payment and communications software for the healthcare clinical trials industry, has completed a $1.5m Series A funding.
The round was led by FirstMark Capital, with participation from existing angel investors including healthcare industry veterans and entrepreneurs.
In conjunction with the funding, Gerald A. Poch, a Founder and Managing Director at FirstMark Capital, will join Greenphire’s Board of Directors alongside the company’s existing Directors— co-founder and CEO Samuel Whitaker, Dr. Neil Rotherham, and David Reuter.
The company intends to use the funds to support the recent launch of its eClinicalGPS technology, a clinical payment platform designed to automate site and vendor payments within the clinical research environment. The capital will be used to expand global sales and marketing initiatives for Greenphire’s technology platform, the ClinCard System, which currently hosts a client base of more than 140 clinical trials sponsors, research sites, contract research organizations and research universities.