Castor's platform has supported more than 4,000 commercial and academic studies covering a broad range of therapeutic areas, including diabetes, cardiovascular disease, rare diseases, infectious diseases, and oncology.
FREMONT, CA: Castor, a leading provider of clinical trial technology that automates the research process, raised $12 million in series A funding. The round was led by Two Sigma Ventures with participation from Hambrecht Ducera Growth Ventures and existing investor INKEF Capital.
Castor is a leading cloud-based clinical data platform that simplifies the clinical trial process for researchers globally, from recruitment to analysis. It's used by more than 50,000 users across academia and commercial research, powering over 4,000 studies with more than 2,000,000 enrolled patients across 90 countries. 192 medical device, biotech, and pharmaceutical companies and contract research organizations (CROs) are using Castor's platform.
Castor will use this new capital to strengthen its support for patient-centric, remote trials and to allow customers to optimize value from existing and newly generated data throughout the clinical trial process.
"There are three key challenges that need to be addressed in the clinical trial space: making research more patient-centric, maximizing the impact of data on human lives, and better addressing the needs of underserved communities," said Derk Arts, MD, Ph.D., CEO & Founder of Castor. "With this new investment, we will be able to make significant progress in all three areas by continuing to deliver user-friendly, accessible technology that can support remote trials, while ensuring machine-readable output that allows for trial automation and data reuse. In the next 18 months we intend to support our customers with patient recruitment and synthetic control arms, through better use of their data. We are excited to partner with Two Sigma Ventures, who bring extensive experience in leveraging the power of data and AI to disrupt incumbent industries."
Castor made its platform freely available for all non-profit COVID-19 research starting in February. They are one of the only providers that can enable large-scale decentralized trials to accelerate the work of researchers trying to combat it. More than 200 COVID-19 projects across 33 countries are currently running on the platform, including the World Health Organization's global Solidarity trial. More than 10,000,000 COVID-19 data points have been captured through their platform, and 50 COVID-19 projects have committed to making their data reusable and accessible to others so that the world can collaborate effectively to stop the disease.