BrightInsight raises funds to develop digital platform for biopharma

24 June 2020 (Last Updated June 24th, 2020 11:02)

US-based digital health platform provider BrightInsight has raised $40m in a Series B funding led by venture capital and private equity company Insight Partners.

BrightInsight raises funds to develop digital platform for biopharma
The financing will also expand the international availability and augmentation of BrightInsight’s digital health platform for biopharma and medtech. Credit: Fernando Zhiminaicela / Pixabay.

US-based digital health platform provider BrightInsight has raised $40m in a Series B funding led by venture capital and private equity company Insight Partners.

Series A investors New Leaf Venture Partners and Eclipse Ventures have also participated in the funding round, which is aimed to ensure the growth and expansion of the company.

The fund will be used by the company to expand the international availability and augmentation of its digital health platform for biopharma and medtech.

Launched in 2018, BrightInsight platform supports and optimises regulated drugs, devices and software through integrated data and actionable insights.

It enables customers to drive better patient adherence and engagement over therapeutic areas such as diabetes, respiratory, oncology, ophthalmology, obesity, haematology, immunology and neurology.

The company noted that it will use the fund to develop a new regional customer delivery centre in London to support its European clients.

It also intends to continue the international expansion plan in China and other Asian markets.

Additionally, the funding will enable BrightInsight to scale up the investment in analytics functionalities and launch new pre-built software assets.

BrightInsight CEO and co-founder Kal Patel said: “This Series B will enable significant growth and rapid scaling for BrightInsight at a pivotal time for our company. As we continue to grow our customer base and projects, this latest funding will be used to expand our company’s footprint globally so we can be closer to our customers.”

The company has a range of biopharma and medtech clients, including Roche, CSL Behring, AstraZeneca and Novo Nordisk.