Congratulations to Auxilius on their latest funding! HealthTrend Capital is pleased to welcome SignalFire as a new investor.
I’m excited to announce that Auxilius has raised an additional $10M, led by SignalFire, and with participation from XYZ, Renegade Partners, and CP Overture. This milestone follows an incredible 2023, with 800% revenue growth and expanded partnerships with over 50 leading biopharma companies. Of course, we would not be where we are without such an incredible team (now over 30 “Auxen” strong), or without the partnership of our earliest customers. But the biggest reason we’ve been able to establish the Auxilius platform as an essential part of the biopharma tech stack so quickly is because we are solving a real and massive problem. The Life Sciences industry continues to manage $250B in clinical R&D spend manually, in excel. We think there is a better way. The additional capital will solidify our position as a leader in Clinical Trial Financial Management (CTFM), and empower us to expand our platform to support customers more broadly in all stages of the drug development lifecycle. Getting a drug to market is extremely difficult. We believe that finance and accounting leaders should be equipped to play a role in mitigating both operational complexity and cost. If you’re as passionate about this topic as we are (or stuck in excel), we’d love to hear from you. Together, we can remove financial complexity and risk from clinical R&D to help get more life-changing drugs to market cost effectively. For more details on our journey and future plans, read our blog post (https://lnkd.in/e84jSaax), and check out this morning’s coverage from Ngai Yeung at Endpoints News