Condor Software has secured $24 million through a Series A round led by Insight Partners, which increased their overall investment to $36 million, with the goal of developing their AI-driven Financial Intelligence Platform for life sciences. The company is addressing a significant issue in pharmaceutical research & development as investment decisions are still heavily dependent on isolated spreadsheets despite the fact that the total expenditure is $300 billion per year. Condors platform unifies clinical, operational, and financial data to provide a real-time view of trial budgets, performance, and investment decisions which means that besides preventing therapy delays and cancellations, it also supports decision making that is based on facts.
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“I’ve seen firsthand that therapies save lives. Too often though, promising therapies are killed in budget meetings by data that’s months out of date. This isn’t a science problem; it’s a financial visibility problem. That’s why I founded Condor—to give life sciences companies the financial clarity they need to bring life-changing therapies to patients. When the economics become clear, good therapies find their way to success. Closing our Series A round underscores that we have a winning vision and platform. Now we must continue to attract and empower extraordinary talent to deliver even more value to clinical teams, expand our platform’s enterprise capabilities, and scale Condor globally.” said Jennifer Kyle.
