Korio, a pioneering Randomization & Trial Supply Management (RTSM) technology company, announced the successful completion of its Series A funding round, led by BIP Ventures and with participation from existing investors Excelerate Health Ventures, Boston Millennia Partners, and other strategic investors. This investment is driven by strong customer demand for Korio’s flexible and quality-focused RTSM platform.
This funding round comes a year after Korio’s initial seed funding in September 2023, showing the market’s enthusiastic response to Korio’s innovative approach to addressing critical RTSM challenges faced by clinical trial sponsors.
Korio has seen a significant surge in customer adoption over the last year, with trial sponsors praising the platform’s ability to adapt to their unique study requirements. And this growth highlights Korio’s success in meeting the diverse needs of today’s increasingly complex clinical trial landscape.
The investment will fund Korio’s continued global expansion, with a focus on its expert client services and support team.
KEY QUOTES:
“We’re excited to support Korio in their mission to reshape the RTSM landscape. In an industry where legacy solutions often struggle with the growing complexity of study designs, Korio’s RTSM platform successfully solves issues like delays, quality concerns, and excessive costs.”
– Austin Poole, General Partner at BIP Ventures
“Our decision to reinvest in Korio was driven by the remarkable progress they’ve made since our initial funding. Trial sponsors and sites alike are reporting a vastly improved RTSM experience. Korio’s platform is not just solving current industry pain points but is also designed to adapt swiftly to evolving clinical trial needs, ensuring customers are well-equipped for future challenges.”
– Bobby Bahram, managing partner at Excelerate Health Ventures
“We are thrilled to have BIP Ventures as a new investor and partner. This funding is a direct result of the trust our customers have placed in us and their desire to see our solution reach more trials. Our growth to date has been fueled by word-of-mouth from satisfied customers, and this investment will allow us to meet the increasing demand while continuing to innovate based on customer feedback.”
– Ryan Keane, Co-founder and CEO of Korio
