Hawthorne Effect has raised $20m in a Series A funding round to support its technology-powered platform and network of medical professionals.
The financing round was led by Northpond Ventures, while SignalFire and P5 Health Ventures joined the investment, which takes Hawthorne Effect’s total funding to $24m.
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Hawthorne Effect plans to leverage the proceeds to expedite its growth and scale up operations.
The company will use its platform, known as Hawthorne Cloud, and network to address challenges associated with patient recruitment and retention in clinical trials.
By leveraging Hawthorne Cloud and medical professionals, the company’s solution is designed to decentralise the complete lifecycle of a clinical trial.
Hawthorne Effect can use the solution to perform full evaluations anytime and anywhere based on the trial and patient needs. The aim is to provide reliable data on time to investigators.
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By GlobalDataFor patients, the company makes participation convenient. It also extends patient pools, fast-tracks enrolment, conducts consistent evaluations, and improves data quality to enhance the efficiencies for trial sponsors.
Hawthorne Cloud has so far been used for nearly 25,000 analyses in roughly 15,000 in-person or virtual visits for more than 50 trials across multiple therapeutic areas and phases.
Named Hawthorne Heroes, the company’s network consists of more than 2,200 medical professionals across North America, Europe and Africa.
These professionals support patients throughout the trial lifecycle and carry out complex evaluations.
Hawthorne Effect CEO and founder Jodi Akin said: “Hawthorne Effect uniquely offers the only technology-enabled distributed professionals model that addresses these common barriers in clinical research.
“As a result, we help sponsors deliver complete and accurate trial assessments to benefit the entire clinical trial ecosystem.
“Our solution also addresses the historical disparities in representation when it comes to patient populations, and the future of public health hinges on closing this gap.”
The company is collaborating with approximately 260 clinical sites and manages trials as a virtual site. It is also working with NIH Operation Warp Speed COVID-19 clinical trials.
Earlier this month, HumanFirst secured $12m in new financing from venture capitalists to help pharmaceutical companies and hospitals find the right sensors to conduct remote clinical trials.
