MedNet Solutions, an innovative SaaS-based eClinical technology company that supports the entire spectrum of clinical research, announced that Arrowroot Capital, a growth equity firm focused on software-as-a-service (SaaS) and Internet-based businesses, has led a new $16.5m growth investment in MedNet Solutions.
Arrowroot partnered with past investors along with new entrant Cohesive Capitla Partners – a private equity firm that makes direct investments exclusively alongside high quality private equity sponsors – on this second round of financing.
This significant new investment will fuel the continued growth and success of MedNet Solutions and iMedNet , the company's comprehensive eClinical technology platform. iMedNet stands apart from other eClinical solutions due to its superior flexibility, affordability and ease-of-use.
"We are excited to continue to partner with MedNet's leadership team during this inflection point in the company's growth," stated Matthew Safaii, Managing Partner of Arrowroot Capital.
"With the adoption of the iMedNet SaaS product across multiple verticals and within both CROs and enterprises, the company continues to be the trusted leader in its segment."
"We have found the MedNet management team to be extremely impressive and believe they will continue to accelerate the company's growth through its differentiated iMedNet offering," said John Barber, Managing Partner of Cohesive Capital Partners.
"Additionally, we are excited to be partnering with Arrowroot Capital, whose team has proven themselves to be leaders in the SaaS investment space."
"This is an incredibly exciting time for MedNet," remarked John M. (Rob) Robertson, President and CEO of MedNet Solutions.
MedNet Solutions is a leading healthcare technology company specializing in electronic data solutions designed for the global life sciences community.
MedNet's proven, flexible and easy-to-use cloud-based eClinical systems dramatically improve the efficiency of clinical studies and registries of all types and sizes. Beyond simply electronic data capture (EDC), MedNet's solutions deliver the tools and dashboards required to expertly manage all aspects of clinical research.
Since 2001, pharmaceutical, medical device, biotechnology and Contract Research Organizations (CROs) around the world have trusted MedNet to consistently deliver the technology innovation, experience and reliability they need for success.