Aetion Closes $110M Series C Funding Round Led by Warburg Pincus

On May 11, Aetion announced a $110 million Series C fundraise. The fundraise was led by growth equity firm Warburg Pincus, with additional funding from new investors B Capital and Foresite Capital and existing investors New Enterprise Associates (NEA) and Flare Capital Partners.

This additional $110 million brings Aetion’s total raised funding to $212 million. Aetion, a leader in the real-world evidence (RWE) space, nearly doubled its revenue and had a 100% customer renewal rate in 2020.

“In a post-COVID era, we have an imperative to use rapid, rigorous evidence to inform health care decisions,” said Carolyn Magill, CEO of Aetion. “This investment reinforces Aetion’s position as an RWE leader and our potential for future growth as we enable our customers to generate regulatory-grade evidence at scale.”

T.J Carella, Managing Director and Head of Healthcare at Warburg Pincus, lauded Aetion’s strong growth in 2020, the scaling of its platform, and recent industry-leading partnerships. “As the use of real-world evidence expands globally, we believe our investment will help advance Aetion’s technology and further inflect its growth,” he said.

As Aetion has also received an influx of recognition from the media over the last year, landing on several “top” lists:

Fast Company’s Top 10 Best Workplaces for Innovators
BuiltIn’s Best Places to Work in New York City and Boston
Rock Health’s 2021 Top 50 in Digital Health (CEO Carolyn Magill)
FiercePharma’s Most Influential People in the Fight Against COVID-19 (Co-Founder, President, and Chief Science Officer Jeremy Rassen)

Read the full press release on PR Newswire.

Additional coverage of Aetion’s $110M Series C Fundraise can be found here: