Healthtech platforms rose in popularity during the Covid-19 pandemic; however, as these platforms continue to mature, they are looking to distinguish themselves from competitors and offer more specialized services. One such company that has made a name for itself is Austin-based SubjectWell. Its platform helps find patients with chronic health conditions for clinical trials and connects them with specialized care options.
On Thursday, SubjectWell announced that it closed a $35 million Series B round led by Asset Management Ventures. Prior to this latest round, SubjectWell raised a $10 million Series A round in 2019.
Unlike other platforms where patients connect with a doctor virtually, SubjectWell connects patients to existing clinical trials in order to provide them with various care options. According to the company, clinical trials often struggle to recruit candidates because patients are unaware of ongoing trials.
To combat this, SubjectWell uses digital ads and places them in front of millions of people. This helps pharmaceutical companies recruit patients for trials and also gets chronically ill patients access to ground-breaking care.
“Patient recruitment remains the largest choke point in clinical development, despite over $5 billion being spent annually. SubjectWell’s highly differentiated and scalable solution markedly reduces our clients’ enrollment timelines,” Ivor Clarke, CEO of SubjectWell, said in a statement.
With the new capital, SubjectWell will work with more pharmaceutical companies to raise awareness about new treatments for patients. It also wants to expand its cancer research.
