Clinical Ink, a startup that has developed a clinical trials software platform that mimics the look and feel of a paper chart, has raised $4.3 million in a series B round of investment.
FCA Venture Partners led the capital infusion into the Winston-Salem company. The investment comes from FCA’s fifth fund, which focuses on early stage to growth equity phase companies. With the investment, FCA Managing Partner Matthew King joins Clinical Ink’s board of directors.
Clinical Ink’s software platform SureSource was designed to capture clinical trial data during a subject visit on a tablet computer. While electronic data capture systems are widely used in clinical trials, replacing what was once a paper-intensive process, Clinical Ink says that it’s product makes the process of capturing clinical trial data more closely resemble the look and the usability of paper charts. Clinical Ink says its approach produces faster and cleaner data and eliminates the time-consuming process of source data verification.
“This infusion of funds will allow Clinical Ink to aggressively build the capabilities needed to address the rapidly increasing customer demand for eSource technology in clinical trials,” Clinical Ink CEO Ed Seguine said in a statement. “Our business has more than doubled in the last year and we will be expanding our management team, development capabilities, and implementation resources to support a wider range of clinical trials globally.”
