DOYLESTOWN, PA — Korio, Inc. has successfully closed its Series A funding round, led by BIP Ventures, with contributions from Excelerate Health Ventures, Boston Millennia Partners, and other strategic investors. This financial boost is attributed to the strong demand for Korio’s innovative RTSM (Randomization and Trial Supply Management) platform, known for its flexibility and quality focus in clinical trials.
The Series A funding follows Korio’s initial seed round in September 2023, highlighting the growing confidence in Korio’s solutions to tackle RTSM challenges faced by trial sponsors. Austin Poole, General Partner at BIP Ventures, remarked, “We’re excited to support Korio in their mission to reshape the RTSM landscape. Korio’s platform effectively addresses delays, quality concerns, and high costs prevalent in legacy systems.”
Over the past year, Korio has experienced significant growth, with positive feedback from trial sponsors endorsing its adaptability to complex study requirements. This success has prompted further investment, as noted by Bobby Bahram, managing partner at Excelerate Health Ventures, who said, “Korio’s platform is not just solving current industry pain points but is also designed to adapt swiftly to evolving clinical trial needs.”
The funds raised will aid Korio’s global expansion and bolster its client services. Ryan Keane, Co-founder and CEO of Korio, expressed, “The funding is a testament to the trust our customers have placed in us. It will enable us to meet increasing demand and continue innovating based on customer feedback.”
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