BEKHealth, a venture-backed company, has secured funding to bolster access to its artificial intelligence (AI)-driven clinical research software platform.
The $4m financing round was led by venture capital firm Excelerate Health Ventures and joined by its consortium partners Boston Millennia Partners, Connecticut Innovations, and Martin Ventures.
Change Healthcare also participated in the round as a strategic commercial partner.
BEKHealth will use the proceeds to expand its team and meet the growing demand from healthcare and clinical research organisations.
The company’s clinical research software platform is powered by AI models that integrate about 400 different medical libraries and 70,000 research protocols with an interoperable clinical data model.
To help sites and clinical research organisations with quick patient enrolment, BEKHealth combines its AI-driven electronic medical record (EMR) data processing engine with easy workflow tools.
BEKHealth founder and CEO Jason Baumgartner said: “For years, clinical research sites, research personnel, and trial participants have been underserved by aging technology, cumbersome workflows, and poor and untimely access to critical data.
“By leveraging a unique combination of machine learning and directly integrating EMR data, BEKHealth is helping researchers bring lifesaving and life-extending therapies more quickly to the patients who need them.
“With support from our new investment partners, we’ll be able to expand these efforts on a much larger scale.”
The company’s growth is driven by the adoption of technology and analytics in the clinical research and healthcare areas.
Furthermore, the rise in virtual healthcare settings where doctors and clinical staff must coordinate research on time and safely, also supported BEKHealth’s growth.
Change Healthcare plans to work with BEKHealth to aid healthcare providers by matching their patients to trials for enhancing access and increasing treatment options.
Last week, Informa Pharma Intelligence introduced an AI-based platform called Citeline Study Feasibility to expedite clinical trial decisions and timelines.