CLEVELAND, Ohio, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Complion, Inc., the first and largest provider of eRegulatory software to clinical research sites, today announced that it secured a $7 million Series B funding round led by Beringea, LLC. The round was oversubscribed reflecting strong interest from existing investors eager to support the company’s accelerating growth including Ohio Innovation Fund, JumpStart and the Ohio TechAngel Fund.
The additional capital investment will help Complion extend its leadership position in the site regulatory compliance market, continue development of its market leading site eRegulatory solution and further invest in solutions to transform the burdensome and critical task of ensuring clinical research site regulatory compliance.
Bill Baumel from the Ohio Innovation Fund who has been a key collaborator and will be joining the Complion Board added, “We have been thrilled to be a part of Complion's rapid growth in the clinical trial site eRegulatory market, and are excited that this capital will not only allow us to continue that progress, but also allow us to expand our eRegulatory solution to other segments within the clinical research industry."
"We are passionate about ensuring the highest quality compliance for leading clinical research sites facing increasingly burdensome regulations,” said Rick Arlow, founder and CEO of Complion. “Since our founding in 2013 we have continued to see increasing momentum within the clinical research market to seek out innovative solutions to address the regulatory burden. The whole team here at Complion is appreciative of the continued support and confidence of our investors as we seek to transform regulatory operations in clinical research sites.”
“We believe that Complion’s leading eRegulatory solution provides the efficient centralized monitoring that high performing research sites and their sponsors need,” said William Blake, Vice President at Beringea. “We are confident that Complion’s experience as the first mover in the industry and impressive management team will continue to propel the company forward.”
About Complion
Complion’s mission is to revolutionize clinical research site regulatory and document management through the elimination of human error and redundant work to achieve maximum efficiency and compliance. That’s why Complion is the first and largest eRegulatory and document management software vendor for sites, health systems, academic medical centers and cancer centers. Learn more at www.complion.com.
Contact
David Lowman, CFO
1-800-615-9077
viscap@complion.com