What is Power?
Power is a technology company dedicated to bridging the gap between patients and clinical trials. The company's platform aims to simplify the discovery and evaluation of novel therapies, addressing the critical challenge of patient recruitment delays that plague the pharmaceutical industry, where approximately 86% of trials are impacted. By making clinical trial participation more accessible and understandable for patients, Power seeks to accelerate the development and approval of breakthrough drugs, offering a vital source of hope for individuals with limited treatment options.
How much funding has Power raised?
Power has raised a total of $19M across 2 funding rounds:
Angel/Seed
$7M
Series A
$12M
Angel/Seed (2022): $7M with participation from AirAngels, Charles River Ventures, ARTIS Ventures, South Park Commons, and Footwork
Series A (2024): $12M led by Contrary Capital and Kin Ventures
Key Investors in Power
Charles River Ventures
CRV is a venture capital firm that invests in early-stage tech startups. Since 1970, the firm has invested in more than 500 startups at their most crucial stages, including Airtable, DoorDash and Vercel. Founders need more than capital to build a great company. It takes a partner who understands the entrepreneurial journey and knows what it takes to win. From founding to IPO and beyond, CRV is there every step of the way. Founders rely on CRV to be trusted, long-term, committed partners, which has helped make CRV into one of the longest-running venture capital firms in the world.
ARTIS Ventures
Artis Ventures is a dedicated venture capital fund focused on Tech Bio+Health, investing in innovative data-driven life sciences companies that aim to enhance human health and wellness. The company aims to create a significant global impact through investments in scalable medical technologies that leverage AI and engineering to develop personalized therapeutics and efficient drug discovery. Artis promotes an engineering-first approach, enabling the development of curative therapies and solutions across various health sectors. Their diverse team, representing over 30 countries, focuses on reshaping industries by backing companies that can pivot and adapt while providing lasting health solutions.
Contrary Capital
Founded in 2016, Contrary is a venture fund that supports the world's top early-career talent. Backed by founders of Tesla, Reddit, Facebook, and others, Contrary identifies top engineers, designers, and product minds emerging from universities, connects them with a close-knit, career-long support community, and invests in companies they start or join.
What's next for Power?
With its recent Series A financing, Power is poised to scale its operations and further enhance its patient-friendly platform for clinical trials. This strategic investment will likely fuel product development, expand market reach, and strengthen partnerships within the healthcare and pharmaceutical industries. The company's focus on patient advocacy and streamlining trial recruitment positions it for significant impact in accelerating medical innovation and improving patient outcomes.
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