I am proud and excited to announce that we closed a Series C financing round of $101 million led by world-renowned venture capital firm General Catalyst. The Series C included strong participation from existing investors including Insight Partners, a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies, New Leaf Venture Partners, a leading healthcare technology venture capital firm, and Eclipse Ventures, which invests in the digital transformation of essential industries, bringing the total raised to $166M.
BrightInsight is on a hypergrowth trajectory. We have tripled our team size and nearly tripled our revenue and our valuation. Over the last year alone, BrightInsight and our biopharma clients launched three digital health products across various therapeutic areas, establishing BrightInsight as a proven, trusted technology platform for our customers. These include a high-risk Class C Software as a Medical Device (SaMD) algorithm, a rare disease patient support app, and more.
Our Series C financing round not only validates the market need for a global digital health platform for biopharma and medtech, but also reinforces the tremendous progress we have made in establishing BrightInsight as a proven, compliant platform that significantly speeds time to market for our biopharma and medtech customers.
This latest injection of capital will support expansion of our global footprint and team, as well as enhancement of our platform with pre-built modules that enable easier customization and accelerated time to market across common use cases including app, algorithms, and connected combination products for dose management, patient engagement, disease management, patient therapy matching and more.
Hemant Taneja, who led the Series C deal at General Catalyst, will be a close advisor to BrightInsight and will bring invaluable experience to the team as we scale. Hemant’s investments at General Catalyst include digital health giant Livongo which he co-founded and which recently had the largest digital health exit in history at $18.5 Billion.
In addition, Dan Goldsmith, CEO, Tendo Systems, former CEO, Instructure, and former Chief Strategy Officer, Veeva, who had been serving as an advisor to BrightInsight, will join the BrightInsight Board of Directors and Dr. Jeffrey Leiden, Executive Chairman of Vertex Pharmaceuticals, will join the recently established BrightInsight Advisory Council.
It’s an exciting time for our company. Investment from our blue-chip, highly specialized venture capital firms shows that they see the value BrightInsight is creating. We look forward to continuing to do just that as we work to achieve our vision of transforming patient outcomes through the power of digital.