It’s a big day for BrightInsight.
Today we announced a Series B funding round of $40M led by global venture capital and private equity firm, Insight Partners, with participation from Series A investors, New Leaf Venture Partners and Eclipse Ventures.
This funding will fuel extraordinary growth for BrightInsight as we continue to scale our team and platform to meet customer demand.
When we closed on this financing, I felt a lot of emotions, but mostly gratitude. Gratitude towards Insight Partners, New Leaf Venture Partners and Eclipse Ventures for investing in us, gratitude towards our customers for their continued partnership, and gratitude towards our incredible employees for their hard work.
Thank you to our Investors
The investment from Insight Partners will be game-changing for our company and team. Insight Partners is the premier global investor in scaling enterprise software companies, with more than $30 billion in capital commitments. Insight has direct experience working with companies in the pharmaceutical space through its Series A investment in Medidata. Peter Sobiloff, Insight Partners Managing Director, led the firm’s investment in Medidata in 2004 and was on the board through IPO. He will now be joining the BrightInsight Board of Directors.
We are also incredibly appreciative of our Series A investors, top healthcare firm, New Leaf Venture Partners, and top technology firm, Eclipse Ventures, who both participated in this Series B round. Flex remains an investor in the Company.
Thank you to our customers
Thank you to our growing list of top tier biopharma and medtech customers for selecting the BrightInsight Platform™ as your regulated digital health infrastructure. Even amidst the COVID-19 pandemic, we have continued to expand our business across current customers, and added two new customers, AstraZeneca and CSL Behring.
Much of this financing will be focused on supporting our customers. Specifically, we are continuing to grow BrightInsight’s teams around the world, including establishing a new regional Customer Delivery Center in London to support our European clients.
As all our customers operate around the world, we will also continue to execute on our international expansion plan in China and other Asian markets.
The funding will also enable us to invest more in our analytics functionalities to enable customers to drive more valuable insights faster, and to launch new pre-built software assets that will allow our customers to enhance and accelerate their digital clinical trials.
Thank you to our BrightInsight team
I am extremely proud of what the team has accomplished since launching the BrightInsight Platform in 2018, and this funding further validates our progress and the value we bring to our customers.
Our Series B is a major milestone and a testament to the passion, accountability and excellence that our employees demonstrate every day.
As CEO, I believe our people are our greatest asset, and I’m thankful to know that we have the best possible team as we hit the accelerator during this next phase of growth.
At BrightInsight, one of our core values is real-world impact. We aim to positively impact healthcare globally by executing every day on our mission of accelerating digital health innovation for our biopharma and medtech customers.
This financing will enable us to achieve this impact at scale, and we look forward to continuing to share updates on our progress.