Press Release (ePRNews.com) - ANN ARBOR, Mich. - Mar 15, 2019 - The University of Michigan MINTS has completed a $750,000 seed round investment in Ripple Science Corporation. The transaction closed on March 7, 2019. Along with this investment, the company’s board of directors elected Patti Glaza to the board, improving governance with the addition of a board member representing investors.
“I believe the company is well-positioned to leverage investor funds to expand the product and the team in order to drive growth,” shared Patti Glaza, Managing Director of Invest Detroit Ventures and Ripple Science board member.
The investment was approved through the University of Michigan’s Michigan Investment in New Technology Startups initiative (MINTS). MINTS, started in 2011 to invest directly in technologies and ideas developed by University of Michigan researchers, is overseen by the U-M Investment Office.
“With this round of financing, the University of Michigan Investment Office is pleased to join the capitalization of Ripple Science, an exciting company whose continued development we have been following,” commented Felicia David-Visser, Senior Manager of Investments. “Ripple Science’s software should significantly facilitate the recruitment, tracking and retention of subjects for clinical trials and other studies.”
“The MINTS investment provides significant runway which we intend to use to release new product features in order to expand and ramp sales in the second half of the year,” commented Ripple Science President and CEO, Peter Falzon. “In a little more than a year Ripple has been deployed at more than 75 academic and medical research centers. We average 150 to 200 research team member logins per day, so we know our tools are being put to good use. Requests from users for more features confirms that research teams want to use Ripple even more.”
About Ripple Science
Ripple Science accelerates clinical research with its secure HIPAA-compliant suite of tools. By adapting sales and marketing automation to the processes of patient recruitment and retention, Ripple helps our customers recruit more participants, faster and reduces patients lost to follow-up.
Ripple Science’s flagship product, Ripple SaaS, is currently being used by research investigators at more than 75 academic and research centers around the world, including Johns Hopkins University, Pennsylvania State University, University of California Los Angeles, the Brain Research Foundation Canada, University of East Anglia (UK), Cognito Therapeutics (Boston, MA) and the University of Michigan.
For more information, visit www.ripplescience.com.