ProofPilot Announces Over $12 Million in Series B Funding

News provided by

Apr 04, 2022, 08:06 ET

The Fully-Integrated Software as a Service (SaaS) Research Platform Aims to Transform the Current Clinical Trial Model

NEW YORK, April 4, 2022 /PRNewswire/ -- ProofPilot, a leading Software as a Service (SaaS) clinical trial research platform, today announced the closing of more than $12M in Series B financing, led by Mitsui & Co. (U.S.A.), Inc., with Sopris Capital, LLC, First Trust Capital Partners, LLC, and Excelra, among others, participating in this round. ProofPilot is revolutionizing the complex and arduous clinical trial market by offering a fully digitized platform with self-design study, trial process management, and remote source verification capabilities.

"ProofPilot is bringing next-generation healthcare to all audiences," said Matthew Amsden, CEO, and co-founder of ProofPilot. "Through our cost-effective and digitally-enabled platform, pharmaceutical and medical device companies can expand the efficacies of their existing products and explore the potential of digital health solutions. For the first time, health & wellness companies can now access clinical trials to substantiate their products and services at a manageable cost. Moreover, participants can seamlessly engage in clinical trial support."

ProofPilot is transforming the traditional clinical trial model so more companies can afford to run trials on a wider array of regulated and non-regulated products and services – all without the typically required internal infrastructure. This democratization not only allows small companies to design and execute trials with rigor, but also to massively scale the research capacity of life science companies as well.

As part of this raise, famed technology strategist and healthcare investor Esther Dyson, executive founder of Wellville, joins ProofPilot's Board of Directors. "As a society, we don't know very much about what improves our human health, or even what a 'healthy' person looks like, but with reduced barriers to entry, ProofPilot allows organizations of any size to design unique trials that impact previously underrepresented populations," she says. "The ProofPilot value proposition is a true win-win-win—for companies, researchers, and people alike."

Jeff Kozloff, seasoned healthcare entrepreneur and another new member of ProofPilot's Board of Directors, echoes the value that ProofPilot brings in its transparency. "Trust is at the foundation of all consumer decision-making," says Kozloff. "ProofPilot's innovative platform enables companies to effortlessly conduct evidence-based research to advance science, validate product claims and earn consumer trust."

"Strategically, ProofPilot was a natural fit for Mitsui. This Company makes clinical trials affordable and easy-to-use, allowing many companies to test their next-generation healthcare solutions, and reach a diverse group of participants. With a focus on innovative opportunities in the healthcare and wellness market, we saw how ProofPilot can play an important role in bringing evidence-based changes to the market," said Jin-Ah Lim, General Manager at Mitsui & Co. (U.S.A.), Inc.

About ProofPilot
ProofPilot is an American internet company founded in 2014 by Matthew Amsden, with headquarters in New York City, New York. The software as a service (SaaS) product is created for anyone to design, launch, participate, and engage in research studies. ProofPilot was designed as a solution for Life Science companies with ProofPilot Rx, as well as wellness interventions with its product ProofPilot 365. To learn more, visit https://www.proofpilot.com/.

About Mitsui
With a long history in the United States, Mitsui & Co. (U.S.A.), Inc. ("Mitsui USA") is a wholly owned subsidiary of Mitsui & Co., Ltd., Tokyo, Japan, one of the most diversified and comprehensive trading, investment, and service enterprises in the world. Mitsui & Co. pursues "360° business innovation" that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects. More information on Mitsui USA may be found at www.mitsui.com/us.

About Sopris Capital
Sopris Capital is a venture capital firm that invests growth equity in technology-enabled business services and SaaS companies that are solving critical pain points. Sopris seeks to be a value-added partner to fast-growing companies that have a validated business model, proven product/market fit, and a management team that can capitalize on the opportunity ahead. Learn more at: http://www.sopriscapital.com.

About First Trust Capital Partners
First Trust Capital Partners, LLC ("FTCP") is a private equity and venture capital investor based in Wheaton, Illinois. FTCP is affiliated with First Trust Portfolios L.P. and First Trust Advisors L.P. (collectively "First Trust"). FTCP's portfolio is comprised of over 70 private investments across multiple sectors. Our team is industry-agnostic, but given our background and areas of expertise, we focus on the Financial Services and Health Care Technology and Services sectors. For more information, please visit ftcapitalpartners.com.

About Excelra
Excelra's data and analytics solutions empower innovation in life sciences from molecule to market. The Excelra Edge comes from harmonizing heterogeneous data sets, applying innovative bioinformatics know-how and technologies to accelerate drug discovery & development with reliable and result-oriented insights. For more information, visit www.excelra.com.

Stay up-to-date on ProofPilot news at: https://www.linkedin.com/company/proofpilot

Media Contact
EvolveMKD
[email protected]

SOURCE ProofPilot