GSR Ventures and Tiger Global Co-Lead $304M Series D Financing of Medable
Gunderson Dettmer represented clients GSR Ventures and Tiger Global as they co-led the $305 million Series D financing of Medable, a decentralized clinical trial platform. Blackstone Growth was also a leader in the round. Medable’s software has been used around the globe and has helped thousands of patient lives.
In the announcement of the transaction, partner at GSR Ventures Dr. Sunny Kumar said, “COVID changed the game. We initially saw 10% to 12% of trials using any meaningful decentralization to now 60% to 70% having some element of decentralization. Medable has proven it is in a strong position to win outsized market share. It is a competitive market, but Medable is breaking away from the pack.”
The Gunderson deal team was led by partners Steve Baglio, Bennett Yee, and Michael Allers, of counsel Mark Oblad, and associates Micah Kantrowitz, Ethan McMahon, and Alec Saccogna.