Clinical Trial Platform Paradigm Raises $203M in Debut Funding

Paradigm, a technology company that aims to integrate clinical trials more broadly into the healthcare system, launched out of stealth with a $203 million series A funding round co-led by venture capital firms ARCH Venture Partners and General Catalyst.

F-Prime Capital, GV, LUX Capital, Mubadala Capital and Magnetic Ventures also jonied the round. American Cancer Society’s BrightEdge fund was a strategic investor.

The startup says it’s creating a technology-enabled platform to “make clinical trials a care option for all patients.” Paradigm also acquired Deep Lens, a patient recruitment platform for oncology-focused clinical trials.

“By rethinking how clinical trials are conducted and reducing the burden on health systems for participation, they’re democratizing access to clinical trials,” said Hemant Taneja, CEO and managing director of General Catalyst and board co-chair for Paradigm.

Other VC-backed companies in this space include Medable, a Silicon Valley startup that raised a $304 million Series D at a $2.1 billion valuation in 2021.