Flywheel Secures $15M in Series B Funding | Company & Finance

The $15M Series B funding round will allow Flywheel to aid much more health care researchers enhance scientific collaboration and speed up daily life-preserving therapeutic discoveries. (Graphic: Flywheel)

The funding round is currently being co-led by Beringea, a transatlantic venture cash investor that seeks to build long lasting accomplishment for rapidly scaling entrepreneurial organizations, and 8VC, which is focused on developing technological know-how platforms that develop very long-time period financial and societal benefit. Other buyers include Novartis dRx Funds, Hewlett Packard Enterprise (HPE), Terrific North Labs, iSelect and Argonautic Ventures, which has deep information and expertise in the daily life sciences market place.

“Flywheel’s impressive listing of consumer institutions and enthusiastic adoption by earth leaders in clinical and tutorial study confirm the platform’s transformative prospective. Its price proposition is not only as a marketplace disruptor but as a resource to modify the way life science exploration is performed and assist make everyday living-changing discoveries a lot quicker. We are fired up to be aspect of this quickly-growing Midwest enterprise and assistance the function of its passionately fully commited workforce,” explained William Blake III, Vice President at Beringea.

With Flywheel’s cloud-based mostly knowledge administration remedy, corporations can streamline and scale their investigation and device studying workflows. This funding will allow for Flywheel to deepen its existence in the lifestyle sciences and AI marketplaces and speed up product or service improvement to electricity the electronic transformation procedures of existence sciences, medical, and educational institutions globally.

“It is our sturdy perception that the top life science institutions of the subsequent 10 years will triumph by using benefit of their biomedical information. Flywheel’s merchandise is the greatest-in-class infrastructure to satisfy this vision,” claimed Francisco Gimenez, Partner at 8VC. “We are fired up to support the business as they support guidance the long term of bioscience R&D.”

“We are amazingly excited by the options ahead for Flywheel as we permit health care and investigation organizations to accelerate innovation in imaging research, device discovering and scientific trials. This new spherical of funding will allow for us to a lot more rapidly scale and develop our organization to assist more businesses make improvements to scientific collaboration and accelerate discoveries that will improve the way health care is sent,” mentioned Jim Olson, CEO, Flywheel.

Flywheel is the foremost investigation data platform that supplies the instruments necessary for info import, automated curation, impression processing, machine studying workflows, and secure collaboration. By leveraging cloud scalability and automating exploration workflows, Flywheel helps businesses scale analysis information and investigation, strengthen scientific collaboration and accelerate discoveries. Flywheel delivers a detailed remedy for daily life sciences, pharmaceutical, biotech, educational, and clinical investigation. Flywheel is headquartered in Minneapolis and has offices in the Bay Spot, Washington DC, and Budapest. For additional facts on our mission and products, check out www.flywheel.io or abide by us on Twitter and LinkedIn.

8VC is a main technological innovation investment organization investing in visionary teams and backing marketplace-reworking companies. The associates have a confirmed track-record as founders, engineers, and operators of profitable organizations such as Palantir, Addepar, Affinity and OpenGov, between some others. The predecessor organization Formation 8 was founded in 2012 and today, manages $1.1 billion in fully commited funds. 8VC was established in 2016 and manages $2.4 billion in committed cash. 8VC invests mainly in good organization platforms throughout industries like money expert services, health care, logistics and other folks, and Bio-IT. For much more information and facts, please go to http://8vc.com.

Beringea is a transatlantic enterprise capital trader that seeks to create long lasting results for fast scaling entrepreneurial firms across a huge selection of sectors, which include health care, technological know-how, media, customer products and organization solutions. With workplaces in Detroit (U.S.) and London (Uk), Beringea presents individual funds and a world footprint to back founders throughout their journey, helping them overcome limitations to scale and build global achievement stories. For details on U.S. investment decision things to do, take a look at https://www.beringea.com/us-cash.

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PUB: 02/03/2021 09:00 AM/DISC: 02/03/2021 09:01 AM