Faro's cloud-based platform helps handle the design and workflows of trials as bio-pharmaceutical treatments have grown increasingly complex.
San Diego’s Faro Health, a cloud-computing startup that provides software for planning and running complex clinical trials in the life sciences industry, has raised $20 million in a second round of venture capital funding.
Founded in 2019, the company automates processes around how protocols and data collection are handled in clinical trials. Co-founder and Chief Executive Scott Chetham contends current methods have not kept pace with the increased complexity of trials in the bio-pharmaceutical industry, which is increasingly developing intricate treatments in fields like rare diseases or immuno-oncology.
Before starting Faro, Chetham worked at Verily — the life sciences division of Google parent Alphabet. The company previously raised $18.3 million in a seed and Series A round in mid-2022.“The technology used to design clinical trial protocols has not adapted to support the complexity of protocol design required by the current innovations in life sciences,” said Chetham in a statement.
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