BTR Raises $15 Million in Series A Round to Transform the Validation Process for Life Sciences Companies
Round led by Insight Partners with additional investments by LRV Health and NewStack Ventures
Boston Technology Research (BTR), a regulatory technology company serving healthcare, life sciences and SaMD, today announced that is has raised $15 million in a Series A round led by New York-based global venture capital and private equity firm Insight Partners, with participation from LRV Health, NewStack Ventures and other investors. The new funding will be used to ensure that customers are prepared for the FDA’s anticipated guidance that will incentivize a move from traditional methods to new technologies. BTR is a leading regulatory technology company that automates how healthcare, life sciences and SaMD companies establish and maintain compliance over their systems. BTR’s flagship solution, Res_Q (for Responsible_Quality), is an entirely digital, SaaS-based validation lifecycle solution that was born from the pain points of industry experience.
Healthcare and life sciences companies are required to ensure that every system that impacts patient safety and security be tested when installed, and every time it changes. Most are doing this with legacy systems like paper, struggling to keep up with the pace of new technology, and spending too much time and resources. Over the next two years, BTR will further automation within Res_Q, expand product offerings and invest in sales and customer success.
“Leveraging technology to manage validation is an absolute business imperative for regulated companies to move to market quickly and responsibly,” said Bryan Ennis, BTR CEO. “Customers can unlock real value and innovate faster when they use Res_Q to enhance and automate how they maintain compliance. We are providing a seamless, single source of validation truth for all systems across the enterprise, and we are already transforming patient safety and security at a time when it’s never been more important.”
“BTR is beyond mission critical for its customer base across the healthcare and life sciences industries. The company’s platform unlocks an unprecedented level of digital collaboration, efficiency and auditability, which in turn drives significant time and cost savings for their customers,” said Julian Marcu, senior associate at Insight Partners. “Insight Partners is thrilled to partner with Bryan and his remarkable leadership team to fuel further innovation and accelerate their ScaleUp journey.”
About BTR BTR is a regulatory technology company serving healthcare, life sciences and SaMD. It has been the compliance engine behind leading software vendors such as Veeva, Nuvolo and Benchling, and has helped more than 275 healthcare and life sciences companies transition to the regulated cloud. BTR’s enterprise-wide compliance platform is used across leading software vendors and sponsors alike, including customers, like Glaukos, Dermavant, Lexicon and Atsena. BTR is headquartered in Chelsea, MA, with a global workforce located throughout North America, Europe and Asia.
About Insight Partners Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight Partners’ mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight Partners encourages a culture around a belief that ScaleUp companies and growth create opportunity for all.