Abbhi Capital leads $9m Series B financing round for CRIO and Sankesh Abbhi joins the CRIO Board of Directors
Abbhi Capital extends its investment in CRIO, a Boston-based technology firm that streamlines clinical trials for sponsors, sites and patients, by leading the company’s recent $9m Series B funding round.
CRIO has had significant recent growth and this Series B is CRIO’s second round of funding in 9 months, validating the company’s market presence as a leader in paperless platforms for conducting clinical trials.
Strategic Partner of CRIO
Abbhi Capital has been a strategic partner of CRIO and an investor since the Seed round in 2016. Abbhi Capital is taking a more active role with the recent Series B round, with Sankesh Abbhi joining the Board of Directors and the firm providing guidance and support to CRIO both on an operational and strategic level. Abbhi Capital’s strong Life Sciences software expertise makes the alliance between CRIO and Abbhi Capital especially strong, with an established playbook that can help CRIO continue their growth and realize operational efficiencies.
“Abbhi Capital led our Series B round, and Sankesh joined our board. Not only have they been great capital investors, but the entire Abbhi Capital team has proactively helped our operations in multiple ways. With their support, we’ve made significant improvements to our metrics tracking and financial reporting. We also appreciate their deep insight and market intel in the eclinical space.”
CRIO eSource Platform
CRIO has now deployed its eSource platform at more than 1000 clinical research sites in over 15 countries globally. CRIO has over 250,000 subjects in its database, representing over 6,000 studies.
“Companies that make clinical trials, more efficient and accessible, while supporting the ever-changing requirements for data security, remote access and monitoring, is what makes CRIO an ideal company to invest in. Raymond and his team have developed an innovative approach to the way clinical trials are conducted by allowing data to be captured once by the sites and then shared directly with sponsors, avoiding the need for time consuming, inefficient, and expensive transcription. I’m particularly impressed with their plan to integrate EMR/EHR data into their eSource. This allows investigators the ability to triage this data before automatically integrating it into CRIO eSource,”
– Sankesh Abbhi, Principal of Abbhi Capital.