Medable’s $304 Million Series D Investment Round

Debevoise & Plimpton advised Blackstone Growth in the transaction while Gunderson Dettmer Stough Villeneuve Franklin & Hachigiam represented GSR Ventures and Tiger Global.

Medable Inc., the leading cloud platform for patient-centered clinical research, closed a $304 million Series D investment, valuing Medable at $2.1 billion.

The funding is intended to accelerate the global adoption of digital and decentralized clinical trials, enabling ubiquitous access to the latest treatments for every body and every biology. 

The funding round was co-led by new investors Blackstone Growth and Tiger Global and existing investor GSR Ventures. The round also includes follow-on investment from existing investors Sapphire Ventures and WTI.

Blackstone is the world’s largest alternative asset manager. Its $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. 

Medable is on a mission to get effective therapies to patients faster by transforming clinical drug development with disruptive technologies. The company’s digital platform streamlines design, recruitment, retention and data quality for decentralized trials, replacing siloed systems with integrated digital tools, data and interfaces to accelerate trial execution. Medable connects patients, sites and clinical trial teams to improve patient access, experience, and outcomes. Medable is a privately held, venture-backed company headquartered in Palo Alto, California.

The Debevoise team was led by M&A partners Spencer Gilbert (Picture) and Kevin Rinker and counsel David Iozzi and included counsel Kim Le and associates Aleena Aspervil, Hannah Levine, James Malmo and Sergio Torres, intellectual property partner Henry Lebowitz, counsel Judith Church and associate Paisley Piasecki, benefits partner Meir Katz and associate Matthew Trudeau, tax partner Peter Furci, FDA regulatory partner Paul Rubin and associate Melissa Runsten, data strategy and security international counsel Christopher Garrett and counsel Johanna Skrzypczyk and litigation associate David Wang.

The Gunderson deal team was led by partners Steve Baglio, Bennett Yee, and Michael Allers, of counsel Mark Oblad, and associates Micah Kantrowitz, Ethan McMahon, and Alec Saccogna.

Involved fees earner: Aleena Aspervil – Debevoise & Plimpton; Judith Church – Debevoise & Plimpton; Peter Furci – Debevoise & Plimpton; Christopher Garrett – Debevoise & Plimpton; Spencer Gilbert – Debevoise & Plimpton; David Iozzi – Debevoise & Plimpton; Meir Katz – Debevoise & Plimpton; Kim Le – Debevoise & Plimpton; Henry Lebowitz – Debevoise & Plimpton; Hannah Levine – Debevoise & Plimpton; James Malmo – Debevoise & Plimpton; Paisley Piasecki – Debevoise & Plimpton; Kevin Rinker – Debevoise & Plimpton; Paul Rubin – Debevoise & Plimpton; Melissa Runsten – Debevoise & Plimpton; Johanna Skrzypczyk – Debevoise & Plimpton; Sergio Torres – Debevoise & Plimpton; Michael Allers – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Steven Baglio – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Micah Kantrowitz – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Ethan McMahon – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Mark Oblad – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Alec Saccogna – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian; Bennett Yee – Gunderson Dettmer Stough Villeneuve Franklin & Hachigian;

Law Firms: Debevoise & Plimpton; Gunderson Dettmer Stough Villeneuve Franklin & Hachigian;

Clients: Blackstone Growth (BXG); GSR Ventures; Tiger Global Management;