Complion collected funding from investors including the multi-university-backed Ohio Innovation Fund for its regulatory compliance software platform catered to sites conducting clinical research.
US-based regulatory compliance software developer Complion obtained $7m on Tuesday in a series B round backed by Ohio Innovation Fund, the venture capital firm backed by Ohio State University, Ohio University and Kent State University.
The round was led by investment firm Beringea and also included JumpStart and Ohio TechAngel Fund.
Founded in 2013, Complion has developed a cloud-hosted software platform that enables sites conducting clinical research to store and manage documentation required to meet legal regulations.
The software automatically builds an audit trail tracking all user actions and features a binder-like interface intended to imitate physical document management systems.
Complion will invest the cash in further product development as it looks to cement its position in the regulatory compliance market for clinical research.
Securities documents show the company had amassed $5.5m of equity and debt financing from prior rounds, and it had been added…
