GoBalto, a startup offering cloud-based tools to help the pharmaceutical, biotechnology, and medical device industries run clinical trials, has announced that it has raised $12 million led by EDBI (the Singapore’s Economic Development Board’s global investment arm) and with participation from Qualcomm Ventures in a Series B round.
Existing investors Aberdare Ventures, West Health Investment Fund, and founding CEO Jae Chung also took part in the round, which brings GoBalto’s total funding to $21 million.
According to today’s announcement, the new funds will be used to expand the features offered by GoBalto “to help support the demands of the growing clinical research market.” Additionally, EDBI intends to help expand GoBalto’s international footprint – unsurprisingly prioritising Singapore.
San Francisco-based GoBalto was founded in 2008 and launched its Tracker product in 2011 as the first software-as-a-service clinical research tool to enable clinical trial sponsors to collaborate with multiple partners on the Web in a way that is both transparent and compliant with relevant regulations.
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