Market Intelligence

Market Intelligence Firm Thrivable Raises $1.7M

B2B SaaS firm connects companies with patients to create better health care products and services.
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Real-time market research platform Thrivable announced today that it has closed $1.7M in funding. With an ever-increasing roster of more than 40,000 patients at the ready, Thrivable allows health care companies to complete surveys, interviews, usability studies, and more in just days compared to the industry standard of weeks and even months.

“We know that in today’s extremely competitive environment, the most patient-centric companies win,” notes Thrivable CEO David Edelman. “It’s why we enable on-demand access to quality panelists that companies need to make sure patient insights inform everyday decisions.”

Thrivable’s growing list of notable health care customers

Many of the world’s largest medical technology companies are counted among Thrivable’s growing list of customers who use the platform to ensure that the customer voice is a continuous driver of important business decisions. As John Mueckler, senior marketing research and analytics program manager at Medtronic, attests, “Having quick and easy access to our target audience has provided us a powerful tool for the business, allowing us to shorten the cycle for testing, making revisions, and re-testing.”

Innovative medtech startups, such as Diabeloop and Tandem Diabetes Care, also turn to Thrivable to engage with patients as early as possible in the product design and development process. “Thrivable pairs precision-targeting with a platform that automates hundreds of critical steps to make the research process effortless. In this sense, we’re democratizing access to patient insights for startups,” states Edelman.

Local, regional, and national investors participate in the funding round

Investors in this round include Allos Ventures, JumpStart, North Coast Ventures, and Early Light Ventures. The investment will allow Thrivable to immediately expand its global team of full-time employees with a focus on the areas of technology, research, data science, sales, and marketing.

“We see Thrivable as the answer to the unique challenges health care market researchers face today — getting the quality patient insights needed to be agile in an incredibly competitive market. We’re excited to be a partner as Thrivable continues to innovate its platform and expand the health conditions that it serves,” says Paul Ehlinger, principal at Allos Ventures.

Among the new members joining Thrivable’s board of directors are Brad OwenAlan Brenner, and Harris Drantch. Owen, who founded NeverBounce in 2014, served as vice president of product tools at ZoomInfo following its acquisition of NeverBounce. Brenner was previously a senior vice president of engineering at both Blackberry and Sun Microsystems. Currently a principal at Coppermine Capital LLC, Drantch previously held the roles of assistant vice president for private equity at Wafra Partners and investment banking analyst at Cain Brothers.

Also joining Thrivable in an advisory role are Royce Brunson, an operations executive who is the chief revenue officer at Health Recovery Solutions, and Michael Classen, an executive officer with Greenspring Associates.

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