nPhase Inc

nPhase Inc

Value: Undisclosed

nPhase, Inc. is a SaaS-based software company which sells REDCap Cloud, a cloud-enabled, Part 11 certified clinical trials management software solution, to healthcare organizations deploying patient engagement-focused data capture strategies.

REDCap Cloud is used by pharmaceutical companies and contract research organizations (CROs) to collect, manage and report data for clinical research trials to be filed with the FDA and by healthcare providers to capture other patient-related data (such as patient reported outcomes data used for value-based pricing models).

REDCap Cloud was launched commercially in the fall of 2016 and uses (via an exclusive license) Vanderbilt University’s world renown, server-based REDCap electronic data capture application as its foundation. REDCap Cloud has established a solid and quickly growing customer base of pharmaceutical companies, CROs and other healthcare providers.

At transaction closing, REDCap’s Vanderbilt consortium(using the server-based software) was comprised of approximately 560,000 users at 2,400 institutions, including many of the most well-known academic research organizations in the world (e.g., Harvard, Yale, Stanford, Johns Hopkins, Duke, Mayo Clinic, Cleveland Clinic, Children’s Hospital of Philadelphia, Vanderbilt).

In May 2017, with the assistance of Cypress, nPhase successfully structured and closed a follow-on private placement of Series B Convertible Preferred Stock purchased by existing investors, including WRD Capital and Vanderbilt University.

In December 2015, with the assistance of Cypress, nPhase successfully structured and closed a private placement of Series A Convertible Preferred Stock purchased by WRD Capital, Selous Ventures, Solidus, and Vanderbilt University.

Cypress acted as placement agent to nPhase in connection with its Series A and Series B equity financing transactions.