Trinity Pharma Raises $15M for Life Sciences Cloud Analytics
Health Enterprise Partners Leads Round to Support Rapid Growth and Expansion
WALTHAM, Mass., December 17, 2013-- Trinity Pharma (www.trinitypharma.com), a provider of cloud-based data, analytics and mobile solutions for the global life sciences industry, has raised $15M in growth capital. The investment will enable Trinity to extend its solutions in response to strong demand for cloud-based, big data healthcare analytics. Health Enterprise Partners (HEP), a New York-based growth equity firm focused on health care services and information technology companies, led the investment.
"Over the last 12 years, Trinity has built a proven business and technology that is solving the increasingly complex challenges that life sciences and healthcare companies face worldwide. The rapid change in healthcare requires real-time analytics to provide value beyond counting pills and with the potential to improve patient outcomes," said David Tamburri, HEP General Partner. "With a seasoned management team, led by Co-Founder and CEO Zackary King, we see tremendous opportunity to accelerate Trinity's growth in support of demand for its cloud-based software."
Trinity's Series A investment comes at a time of impressive growth for the company. The infusion of capital will fuel the expansion of Trinity's sales and delivery teams and the continued evolution of its core product, AgileM, a cloud-based mobile analytics platform. Trinity expects to invest in the areas of sales, marketing, and technology to better serve its rapidly expanding customer base. The company also plans to double its employee base and expand its geographic reach with offices in New Jersey and California.
Trinity helps life sciences companies transform and drive insight from the massive amounts of commercial health data within their organizations. It introduced the industry's first cloud-based HTML5 mobile analytics application and data integration platform to deliver personalized, data-driven customer analytics. The benefits allow its customers immediate access to analytics on their mobile devices which improve tactical and strategic decision making across sales and marketing teams.
"The explosive growth in healthcare information combined with unprecedented demand for analytics has created a problem that far exceeds the delivery capabilities of traditional data warehouses and generic business intelligence solutions," said Zackary King. "By leveraging the cloud, our vertically-focused solution turns complex data into insights and analytics that are essential to successful life sciences and healthcare organizations. We're excited to partner with HEP because of their stellar reputation, exclusive focus in healthcare and the team's track record of success."
Tamburri will join Trinity's board of directors. John Corcoran, Trinity Co-Founder and Chairman, will also serve on the board. Corcoran has more than two decades of experience in both the healthcare and technology sectors with a number of early and late stage ventures to his credit. "This investment will fuel substantial growth, brand awareness and overall value to our customers and partners. Trinity Pharma is well positioned to capitalize on the sweeping changes in healthcare and the important role that analytics will serve in this dynamic environment," Corcoran said.
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