ConcertAI, a Cambridge, MA-based provider of enterprise AI and real-world data (RWD) solutions for life sciences and healthcare, raised $150M in Series C funding at a $1.9 billion valuation.
The round was led by Sixth Street. Sixth Street Managing Director Adam Kaye will be joining ConcertAI’s board of directors, with Managing Director Lee Mooney joining as a board observer.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Jeff Elton, PhD., and Executive Chairman Dr. Romesh Wadhwani, ConcertAI provides software-as-a-service (SaaS) and data solutions to life sciences and biopharma companies, healthcare providers, contract research organizations, medical societies, and regulators in the US, Europe, and Japan.
Through a “system of evidence” approach, the company is advancing data and technologies that underpin new models of clinical development, driven by the pandemic’s acceleration to fully digital and AI-enabled solutions. This includes a large, independent oncology research database and patient data composed of clinical, molecular, medical claims, and imaging data.
In the past 36 months, the company has expanded its customer base and partnerships to more than 45 life sciences companies and contract research organizations (CROs) with SaaS solutions across the product lifecycle. Oncology biopharma companies including Janssen and BMS are multi-product strategic partners.
FinSMEs
30/03/2022