Founders: Michelle Longmire (CEO), Tim Smith, James Sas, Perry Robinson
Headquarters: San Francisco
Funding: $517 million
Valuation: $2.1 billion
Key technologies: Cloud computing, Internet of Things, no code/low code software
Category: Big Data
Many studies have confirmed that clinical trials remain more white than they should be relative to population statistics, and in many cases under-represent not just racial and ethnic groups but women and the elderly. The issues in clinical trial design are not limited to lack of diversity. Less than 4% of Americans participate in clinical studies; 30% drop out before study completion; and 80% of studies do not meet enrollment deadlines. Medable uses a cloud-based approach to making participation more consumer-friendly and more equitable. The company's technology allows trials to be conducted remotely, so participants do not need to visit a clinic in-person every time they need to take tests. Over the course of the pandemic, Medable decentralized more than 150 clinical trials to over one million participants across 41 countries and in over 60 languages, including Covid-19 vaccine and therapeutic treatment. In February, it announced a partnership with CVS Health's new clinical trials arm to expand access to trials through CVS MinuteClinic select sites using Medable software. It most recently raised $304 million last October in a fundraising round led by Blackstone Growth and Tiger Global, its fourth round since 2020.
The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC). Learn more about CNBC Councils.