BIP Ventures is pleased to announce that we have completed a Series A funding round in the pioneering Randomization & Trial Supply Management (RTSM) technology company. BIP Ventures led the round, with participation from existing investors Excelerate Health Ventures, Boston Millennia Partners, and other strategic investors. This investment is driven by strong customer demand for Korio's flexible and quality-focused RTSM platform.
This latest funding round comes a year after Korio's initial seed funding in September 2023, demonstrating the market's enthusiastic response to Korio's innovative approach in addressing critical RTSM challenges faced by clinical trial sponsors.
"We're excited to support Korio in their mission to reshape the RTSM landscape. In an industry where legacy solutions often struggle with the growing complexity of study designs, Korio's RTSM platform successfully solves issues like delays, quality concerns, and excessive costs." (Austin Poole, General Partner at BIP Ventures)
Korio has seen a surge in customer adoption over the last year, with trial sponsors praising the platform's ability to adapt to their unique study requirements. This growth underscores Korio's success in meeting the diverse needs of today's increasingly complex clinical trial landscape. The investment will be used to fund Korio's continued global expansion, with focus on its expert client services and support team.
"We are thrilled to have BIP Ventures as a new investor and partner. This funding is a direct result of the trust our customers have placed in us and their desire to see our solution reach more trials. Our growth to date has been fueled by word-of-mouth from satisfied customers, and this investment will allow us to meet the increasing demand while continuing to innovate based on customer feedback." (Ryan Keane, Co-founder and CEO of Korio)
Korio is the Randomization & Trial Supply Management (RTSM) platform for quality, speed and reliability, backed by decades of expertise so you can be Ready for the Trials Ahead℠. Adapting faster to protocol changes. Easily surfacing audit trail and cross-portfolio data. Rapidly flagging integration disruptions – and when you need guidance, providing access to knowledgeable and responsive RTSM experts all on a simple, user-friendly platform. No matter what trials you may face, Korio is built ready so nothing disrupts your journey to clinical trial success. To learn more visit korioclinical.com.
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