US Tech Startup SubjectWell Secures $35 Million in Investment
Established Cape Town office will significantly grow staff
AUSTIN, TX, November 10, 2022 – SubjectWell, the largest engagement platform for matching patients with chronic health conditions to new care options in clinical trials, recently announced a R630 Million ($35 million USD) Series B funding round led by Asset Management Ventures. This new investment will accelerate the growth of SubjectWell’s existing clinical trial patient recruitment efforts, expand its support of cancer research and fund production of its awareness initiatives for post-approval treatments.
SubjectWell will grow the patient recruitment team in its Cape Town office to increase the volume of new patient screenings, which are essential to the company’s continued expansion. Clinical trials need millions of qualified volunteers, but regularly fall behind schedule due to a lack of awareness around how to participate. SubjectWell currently employs over 70 people in the United States and over 160 people in South Africa, with plans to significantly increase the pace of hiring in Cape Town over the next year.
“SubjectWell continues to invest in our South African operations because we find exceptional talent with healthcare backgrounds ideal for engaging our patients worldwide,” said Ivor Clarke, CEO of SubjectWell. “Our patient recruiters make a difference in the lives of millions, helping people find medical care through clinical trials, and these connections are critical to our success.”
Earlier this year, SubjectWell leveraged its growing patient reach to begin recruiting for non-small cell lung cancer studies and has since added support for breast cancer trials. In addition to oncology recruiting and platform growth, SubjectWell will use the funding to launch a unique offering that allows pharmaceutical companies to raise awareness and engagement of their post-approval treatments with verified patients.
“We look for innovative companies in digital health and data analytics and were impressed by how SubjectWell’s platform meets the patient where they are – from digital engagement to screening and continuous nurturing, all while allowing their customers to access real-time data,” said Skip Fleshman, Partner at Asset Management Ventures. “We believe SubjectWell’s current scale will prove to be very advantageous as they expand into oncology research and supporting their customers’ commercial goals.”
SubjectWell now partners with 16 of the top 20 pharmaceutical companies and has grown revenue by 800% over the past two years. The company is poised to double revenue again in the next 12 months.
For more information on SubjectWell, and how to apply to current openings in Cape Town, visit www.subjectwell.com/work-with-us/jobs.
SubjectWell, the audience engagement platform for healthcare, is raising awareness of clinical research in the general population – providing patients more choice and easy access to innovative treatment options. Visit SubjectWell.com to find out more.
About Asset Management Ventures
Founded in Palo Alto in 1965, Asset Management Ventures (AMV) is an early-stage venture capital firm investing in technology and life sciences, with a primary interest in the burgeoning digital health sector. The partnership team, all former entrepreneurs with broad operating backgrounds, combines deep domain knowledge with extensive investment experience in technology and healthcare. Every day, the team is focused on one thing: helping founders create opportunities and navigate challenges en route to building truly transformational companies.
Crowley Webb for SubjectWell