Clinverse Closes $3.8M Series B Funding Round

Clinverse, Inc., a Raleigh, NC-based SaaS ecommerce platform provider for clinical trials, has closed a $3.8m Series B round of funding.

The round was led by Hatteras Venture Partners, with participation from Vital Financial.

Led by CEO Tim Immel, Clinverse provides biopharma leaders, clinical research organizations (CROs), and other innovators in the clinical trials industry with ClinPay™, a financial management software application designed to improve the payments process. It provides sponsors with the financial management capabilities to capture the required regulatory data that clinical trials are expected to start collecting in January 2013 and begin reporting to the Centers for Medicare and Medicaid Services (CMS) in March 2014.

The company intends to use the funding to expand market penetration for ClinPay and to launch and develop new products.



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