Complion (Cleveland) — a maker of regulatory software for clinical research sites — recently announced that it has raised $7 million in its latest funding round.
Beringea led the Series B round, the company announced on Feb. 12. The round ended up being oversubscribed, thanks to interest from existing investors including the Ohio Innovation Fund, JumpStart and the Ohio TechAngel Fund.
Money from the Series B round will go toward efforts to expand Complion’s market leadership, as well as offer the company’s eRegulatory solution to other segments in the clinical research industry.
“We are passionate about ensuring the highest quality compliance for leading clinical research sites facing increasingly burdensome regulations,” Rick Arlow, founder and CEO of Complion, said in a news release. “Since our founding i,n 2013 we have continued to see increasing momentum within the clinical research market to seek out innovative solutions to address the regulatory burden.”