ConcertAI, a Cambridge, MA-based provider of enterprise AI and real-world data (RWD) solutions for life sciences and healthcare, raised $150M in Series C funding at a $1.9 billion valuation.
Sixth Street was the leader of the round. Sixth Street Managing Director Adam Kaye will be joining ConcertAI’s board of directors, with Managing Director Lee Mooney joining as a board observer.
The funds will be used by the company to expand its operations and business reach.
Led by CEO Jeff Elton, PhD., and Executive Chairman Dr. Romesh Wadhwani, ConcertAI provides software-as-a-service (SaaS) and data solutions to life sciences and biopharma companies, healthcare providers, contract research organizations, medical societies, and regulators in the US, Europe, and Japan.
Through a “system of evidence” approach, the company is advancing data and technologies that underpin new models of clinical development, driven by the pandemic’s acceleration to fully digital and AI-enabled solutions. This includes a large independent database of oncology research and patient data, which is composed of clinical, molecular medical claims and imaging data.
The company has increased its customer base to 45 life sciences companies, contract research organizations (CROs), and partners with more than 45 life science companies. Janssen and BMS, both oncology biopharmaceutical companies, are multi-product strategic partners.