Auxilius a New York-based company that simplifies and streamlines clinical trial financial management for biotech companies has announced it has raised $10 million in Series A funding to Help Biopharma Manage $150 Billion in Clinical R&D Spend.
The round was led by Renegade Partners, with participation from previous investors Bain Capital Ventures and XYZ Venture Capital, as well as a number of prominent angel investors, including Andy Palmer (Koa Labs), and Chase Gilbert (Built Technologies), and Sam Whitaker (Greenphire). Roseanne Wincek from Renegade Partners is joining the board.
Company: Auxilius Inc.
Round: Series A
Funding Month: June 2022
Lead Investors: Renegade Partners
Additional Investors: Bain Capital Ventures, XYZ Venture Capital, Andy Palmer, Chase Gilbert, Sam Whitaker, Roseanne Wincek
Company Website: https://www.auxili.us/
Software Category: Clinical Trial Financial Management
About the Company: Auxilius was purpose-built by a team with decades of experience at the intersection of finance and healthcare to address the unique operational, financial, and accounting needs of clinical trials. The company helps biotechs accomplish more by augmenting manual clinical business operations and FP&A/accounting processes with intuitive software that scales and works with a company's existing tech stack. This allows companies conducting clinical trials to take control over trial costs and clinical vendors, manage financial risk, and optimize spending in pursuit of trial targets. The company is backed by Bain Capital Ventures, Renegade Partners, and XYZ Venture Capital as well as several prominent angel investors