HOBOKEN, N.J.--(BUSINESS WIRE)--Castor, a leading provider of decentralized and hybrid clinical trial solutions, today announced transformative growth with anticipated topline acceleration driven by the company’s momentous US market expansion and focus on life sciences enterprise sales. In 2021, the company reported 125% YoY growth, more than doubled its workforce, launched New York operations, and powered more than 2,500 studies across the globe.
Life sciences companies, digital health innovators, and researchers trust Castor to power their studies, evidenced by a 98% customer satisfaction rating and an increased customer base of 39% from 2020. Since 2014, Castor has supported over 8,500 studies across 100+ disease indications and reached over 3 million participants across more than 90 countries.
2021 milestones for Castor include:
- Named to the 2021 CB Insights Digital Health 150 -- List of Most Innovative Digital Health Startups
- Closed $45M Series B funding led by Eight Roads Ventures and F-Prime Capital with participation from existing investors Two Sigma Ventures and Inkef Capital
- Ranked leading DCT provider by Peak Matrix
- Partnered with Lightship to scale virtual clinical trials worldwide
- Partnered with Trialbee to simplify enrollment to clinical trials globally
- Hired two strategic leaders, Kimberly Tableman, focused on increasing diversity and improving the patient experience and Anna Wozniak to scale and accelerate business growth
"It can be difficult to find fit-for-purpose trial solutions for studies that vary in size, complexity and face different budget constraints. We have partnered with Castor because their solution is easy-to-use and easily scales across varying regulatory environments,” said David Shah, Manager, Clinical Data Management of Ethicon, a Johnson & Johnson company. “Ultimately, Castor provides us with the ability to set realistic timelines and deliver positive clinical trial experience for both internal, sponsor, and external, participants and sites, users."
In 2021, Castor continued to deliver on its mission of democratizing global research. During the COVID-19 pandemic, Castor donated its technology and ground-breaking clinical research solutions to more than 300 COVID-19 studies across 40 countries. The company provided free access to its CDMS/eSource and decentralized clinical trial (DCT) solutions for COVID-19 studies to empower researchers, and remove barriers to save lives.
Castor-supported COVID-19 studies include:
- World Health Organization’s Solidarity trial, the largest international randomized trial for COVID-19 treatments
- COVID-RED, the world’s first study to use machine learning in the diagnosis of COVID-19
- Lucira Health’s validation study of its PCR-quality molecular COVID test, which produces results in 30 minutes or less with 98% accuracy.
- ResApp Health’s pilot study for the collection of vocalized, individual digital cough sound recordings to screen for COVID-19 (covid-cough)
“2021 was a year of transformative growth, and our technology solutions powered the world’s leading COVID-19 projects and transformative studies into ‘digital’ cures for patients,” said Derk Arts, CEO and Founder of Castor. “We will continue to innovate to enable researchers to conduct more effective clinical trials while improving the patient experience, to bring new therapies to patients faster.”
Learn more about Castor’s expanding team here. If you’re interested in joining a passionate and collaborative organization bringing clinical trials into the 21st century, Castor is hiring.
About Castor
Castor is a leading provider of decentralized and hybrid clinical trial solutions to democratize research. With the highest-rated eClinical platform for decentralized and hybrid clinical trials, Castor’s plug-and-play platform offers rapid deployment at scale, enabling researchers to create a trial in a matter of clicks, with easy enrollment, eConsent, and real-world data capture. Castor is bringing human-centered design to the clinical trial process, from recruitment to analysis, and improving the quality, security, and reusability of data for researchers worldwide. For more information, visit www.castoredc.com. Follow us on Twitter at @castor.
