4G Clinical Funding, Investors & Competitors

Benchling is a San Francisco-headquartered cloud platform for biotech R&D launched in 2012 that supports molecular biology workflows including DNA design, CRISPR editing, and experiment tracking. Adopted by Pfizer, Regeneron, and Moderna for vaccine development, it serves over 200,000 scientists at more than 3,000 organizations worldwide.

Iqvia is the result of the 2016 merger of Quintiles, a leading global contract research organization, and IMS Health, a leading healthcare data and analytics provider. The research and development segment focuses primarily on providing outsourced late-stage clinical trials for pharmaceutical, device, and diagnostic firms. The technology and analytics segment provides aggregated information and technology services to clients in the healthcare industry, including pharmaceutical companies, providers, payers, and policymakers, as well as data and analytics capabilities for clinical trials, including virtual trials. The company also has a small contract sales business.

Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx derives roughly 35% of its revenue from outside the United States.

GE HealthCare Technologies is a leading medical technology firm with leading market share in imaging and ultrasound equipment. The company reports four major segments: imaging (45% of revenue), advanced visualization solutions (26%), patient care solutions (15%), and pharmaceutical diagnostics (14%). The company’s sales are geographically diverse, with the United States, EMEA, China, and the rest of the world accounting for 46%, 26%, 11%, and 17% respectively. We estimate approximately half of its revenue is recurring, which consists of servicing (about one third of revenue), pharmaceutical diagnostics (about 10%-15%), and digital solutions (just over 5%).

Icon is a global late-stage contract research organization that provides drug development and clinical trial services to pharmaceutical, biotechnology, and medical-device firms. While the vast majority of its revenue comes from clinical research, Icon also offers ancillary services such as laboratory and imaging capabilities. The company is headquartered in Ireland.

Shanghai United Imaging Healthcare Co Ltd provides customers with high-performance medical imaging equipment, radiotherapy products, life science instruments, and medical digitalization and intelligent solutions. The company’s products include MRI systems, CT scanners, X-ray imaging equipment, molecular imaging systems, radiotherapy linear accelerators, and life science instruments.

Glaukos Corp is an ophthalmic pharmaceutical and medical technology company focused on developing novel, dropless therapies and commercializing associated products for the treatment of glaucoma, corneal disorders, and retinal diseases. It has commenced commercialization activities for iDose TR, a first-of-its-kind, long-duration, intracameral procedural pharmaceutical implant designed to continuously deliver glaucoma drug therapy inside the eye for extended periods of time. The company also offer commercially a proprietary bio-activated pharmaceutical therapy for the treatment of a rare corneal disorder, keratoconus. The company has three primary commercialized micro-scale surgical device products designed to treat glaucoma: the iStent, the iStent inject W, and the iStent infinite.

Schrodinger Inc is a healthcare-based software company. It offers software solutions designed to support and accelerate the discovery, design, and optimization of molecules. The company operates in two reportable segments: Software and Drug Discovery. The software segment is focused on selling software to transform drug discovery across the life sciences industry, as well as to customers in materials science industries. The drug discovery segment is focused on generating revenue from a diverse portfolio of preclinical and clinical programs, internally and through collaborations, that have various stages of discovery and development. The majority of the company's revenue is derived from the Software segment. Geographically, it derives the maximum revenue from the United States.

Dental Monitoring is a Paris-headquartered teledentistry company founded in 2014 offering AI-powered remote monitoring for orthodontic treatments. Its app enables patients to scan teeth via smartphone, analyzed by algorithms for 200-plus clinical criteria. The firm employs over 400 staff across Europe, the United States, Australia, Hong Kong, and Singapore, serving 3 million patients globally.

AcuityMD is a software platform that aggregates clinical utilization data to accelerate medical device commercialization for orthopedics and spine companies. Boston-headquartered, it analyzes procedure volumes and surgeon preferences from electronic health records across U.S. hospitals. The platform equips sales teams with market intelligence on over 10 million procedures, enabling targeted account planning and evidence-based launches.

BrightInsight is a San Jose-headquartered digital health platform supporting pharma and medtech companies with FDA-cleared solutions for connected drugs and devices. Founded in 2017, it powers patient apps for 10+ therapeutics including Novartis' Entresto and Abbott's FreeStyle Libre, integrating wearables and EHRs for adherence monitoring. The platform processes data from 1 million+ users, delivering insights via AWS cloud infrastructure under ISO 13485 quality systems. BrightInsight expanded to Europe in 2023 with CE marking for its IoT hub.

Nanjing Medlander Medical Technology Co Ltd is engaged in the research and development, production, sales, and service of related products in the field of pelvic floor and postpartum rehabilitation. Its products mainly include: biostimulation feedback instrument, color ultrasound diagnosis and evaluation system, magnetic stimulator, high-frequency evaluation electrocautery instrument, pelvic floor training instrument, portable postpartum recovery instrument, home pelvic floor rehabilitation therapy instrument, etc., which are widely used in obstetrics and gynecology, pelvic floor rehabilitation center, urology, anorectal department and other hospital departments.

Simulations Plus Inc is engaged in the software industry. It develops and produces software for use in pharmaceutical research and education, and provides consulting and contract research services to the pharmaceutical industry. The company's operating segments include Software and services. The company offers software products for pharmaceutical research such as ADMET (Absorption, Distribution, Metabolism, Excretion, and Toxicity). It generates maximum revenue from the software segment. Maximum revenue is earned from USA following EMEA and Asia Pacific.

Veeva is the global leading supplier of cloud-based software solutions for the life sciences industry. The company's best-of-breed offerings address operating and regulatory requirements for customers ranging from small, emerging biotechnology companies to departments of global pharmaceutical manufacturers. The company leverages its domain expertise to improve the efficiency and compliance of the underserved life sciences industry, displacing large, highly customized and dated enterprise resource planning systems that have limited flexibility. Its two main products are Veeva CRM, a customer relationship management platform for companies with a salesforce, and Veeva Vault, a content management platform that tackles various functions within any life sciences company.

Roper Technologies is a holding company focused on acquiring, managing, and developing niche market-leading technology businesses. The company operates a decentralized business model whereby each portfolio company operates independently from the others. Roper positions itself as a free cash flow compounder, whereby excess free cash flow generated by its portfolio businesses is repatriated to the parent company, which is then utilized to acquire additional businesses. Presently, the company operates 30 distinct businesses with over three-fourths of the revenue coming from software products and over two-thirds of the revenue coming from recurring and recurring sources.

Pro Medicus is a healthcare IT company specializing in radiology imaging software. Its main product, Visage 7, is a clinical desktop application that radiologists use to view, enhance, and manipulate images from any device and make a diagnosis. Its main customers are US private academic hospitals. In fiscal 2025, Pro Medicus earned 90% of revenue in North America, 8% from Australia, and the remaining 2% in Europe.

M3 Inc is a Japan-based company engaged in providing medical-related services through internet-based platforms and real-world operations. The company operates six reportable segments: Medical Platform, Evidence Solutions, Career Solutions, Site Solutions, Patient Solutions, and Overseas. Its businesses include online marketing for medical professionals, clinical trial support, human resources services for medical professionals, operational support for medical institutions, and patient support services. The Overseas segment offers similar services internationally, including in the United States, the United Kingdom, China, South Korea, India, France, Germany, and Spain.

Commure is a San Francisco-headquartered healthcare technology company that delivers an interconnected platform for hospital and health system operations. Its suite of applications includes ambient AI-assisted clinical documentation, revenue cycle automation, staff safety monitoring, and care coordination tools. The platform integrates seamlessly with electronic health record systems through partnerships like the MEDITECH Alliance and enables enterprise-wide AI deployments such as ambient scribing and clinician workflow automation. Commure supports provider networks by offering licensing, implementation services, and content integration to streamline clinical and administrative workflows across large-scale organizations.