Summit Partners invests in CluePoints

Summit intends to support CluePoints in boosting its growth, expanding its international presence and driving its products' development. Following the deal, Thomas Tarnowski, a managing director at Summit, will join the company's board of directors.

Founded in 1984, Summit is a global alternative investment firm with $21bn in assets under management. The firm invests in growth equity, fixed income and public equity opportunities across the world.

The GP is currently investing from Summit Partners Europe Growth Equity Fund III, which closed on its €1.1bn hard-cap in June 2020. The vehicle deploys equity tickets of €20-70m in Europe-based companies, operating across the technology, healthcare, financial services, consumer products and business services sectors.

In addition, the firm is also managing Summit Partners Venture Capital Fund V, which also held a $1bn final close in June 2020, and makes equity investments of $10-60m in growth-stage companies based primarily in North America.

Previous funding
CluePoints raised €6m in a series-A funding round in July 2015. The round was led by a group of private and public investors, including Société Régionale d'Investissement de Wallonie (SRIW), Belgian venture capital firms Theodorus and Nivelinvest, and CluePoints founder Marc Buyse.

Theodorus invested via Theodorus III, a €20.25m fund that deploys equity tickets in the €250,000-2m range in seed and early-stage rounds for life science, digital technology, health technology and biotech companies across Belgium.

Company
CluePoints is a provider of risk-based study execution (RBx) and data quality oversight software for detecting, managing and documenting risks that may impact the outcome of clinical trials.

Using patented statistical models to determine the quality, accuracy and integrity of clinical trial data, the company's cloud-based tools help companies to remotely monitor clinical and operational data in real time, to increase efficiency, improve patient safety and reduce costs.

CluePoints is headquartered in Louvain-la-Neuve, Belgium, with an additional office in Philadelphia, US. Since its launch in 2012, its software has been used in more than 600 clinical trials by pharmaceutical companies and contract research organizations around the world.

People
Summit Partners – Thomas Tarnowski (managing director).
CluePoints – François Torche (co-founder, CEO); Patrick Hughes (co-founder, chief commercial officer).

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• Topics
• Expansion
• Benelux
• Technology
• Healthcare
• Venture
• Summit Partners