CluePoints Acquisition, Valuation, Funding & Investors

CluePoints was acquired by EQT for $540M in June 2024.

CluePoints acquisition price

$540M

Acquired by EQT · Jun 2024

Cumulative funding CluePoints raised

$7M

across 1 funding round

Key investors in CluePoints

  • S.R.I.W.
  • Theodorus III
  • Nivelinvest

CluePoints Overview

About CluePoints

CluePoints is a risk-based monitoring solution for clinical trials, utilizing statistical algorithms to detect data anomalies and ensure integrity per ICH, FDA, and EMA guidelines. Deployed across pharmaceutical studies, it optimizes site monitoring and reduces submission risks through centralized data review.


Founded

2012

HQ

United StatesPhiladelphia, PA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$540M (acquired Jun 2024)

CluePoints Acquisition

CluePoints was acquired by EQT for $540M on 12 June 2024.

Before the acquisition CluePoints had raised $7M across 1 funding round.

CluePoints, founded in Belgium in 2012, provides a cloud-based software platform for Risk-Based Quality Management (RBQM) and data quality oversight in clinical trials, leveraging AI, advanced statistics, and machine learning to enable safer processes, improve data integrity, and ensure risk compliance, aligned with FDA, EMA, and ICH E6 (R2) guidelines. The platform supports central and on-site monitoring, medical review, and quality risk management across all trial phases, with recent product launches including SPOT (Site Profile and Oversight Tool), Intelligent Medical Coding (IMC), and Medical & Safety Review (MSR). Since receiving growth investment from Summit Partners in 2020, CluePoints achieved significant expansion through robust go-to-market development, new product introductions, market diversification, 50-60% ARR growth, 145% net revenue retention, 95% gross revenue retention, and strong customer NPS, culminating in a SaaS rule of 88 well above industry benchmarks. EQT, a Swedish global private equity firm managing over $230 billion in assets, acquired a majority stake in CluePoints in June 2024 through its Healthcare Growth and Technology Growth strategies, following an auction process where certain sellers including Summit Partners, Clinimetrics SA (co-founder), WE, Invest.BQ, and Theodorus reinvested, while others exited. The transaction, subject to customary approvals, closed in Q3 2024, with EQT securing all shares including UK and US subsidiaries, earning the Best Large Cap Private Equity Exit 2024 Award at the M&A Belgium Awards. EQT's strategic rationale leverages its 30-year healthcare investment track record, SaaS and AI expertise, in-house digital team, and global Industrial Advisors network to reinforce CluePoints' leadership in RBQM and clinical data analytics amid accelerating adoption driven by rising R&D spend, data complexity, patient safety focus, and regulatory scrutiny. The deal validates CluePoints' evolution from RBQM single-product startup to multi-product AI-driven data analytics leader, positioning it for expansion into adjacent markets with EQT's full platform support.

CluePoints acquisition details
AcquirerDateTypePrice
12 Jun 2024PE buyout$540M

CluePoints Funding History

CluePoints has raised a total of $7M across 1 funding round.

CluePoints funding rounds

CluePoints funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2015Series AS.R.I.W. (lead); Theodorus III; Nivelinvest$7MCluePoints secured a €6 million growth investment on July 23, 2015, from investors including S.R.I.W., Nivelinvest, Theodorus III, founder Marc Buyse, and former UCB CEO Roch Doliveux. The funding supports expansion of operations and business development in the U.S., technology innovation, and growth in the risk-based monitoring market for clinical trials. CluePoints provides Central Statistical Monitoring (CSM) software using patented SMART engine to detect anomalous data, improve clinical data quality, optimize on-site monitoring, and reduce regulatory submission risks.

Who has invested in CluePoints?

3 investors have backed CluePoints across its funding rounds, including S.R.I.W., Theodorus III and Nivelinvest.

Lead investors include S.R.I.W..


CluePoints Investors

Investors in CluePoints by funding rounds participated
InvestorHQRoundsRoleFirst check
S.R.I.W.BelgiumBelgium1LeadJul 2015

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CluePoints Competitors

CluePoints competitors include listed companies like Nanjing Medlander Medical and Simulations Plus, and private ones like Elligo Health Research, BrightInsight, Cloudnine Hospitals and AcuityMD.

Public and private companies comparable to CluePoints
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Elligo Health ResearchUnited StatesAustin, TXPrivate--$392M-
Nanjing Medlander MedicalChinaChinaPublicly listed$64M$20M$418M-
BrightInsightUnited StatesSan Francisco, CAPrivate--$750M-
Simulations PlusUnited StatesUnited StatesPublicly listed$79M($62M)$373M3.9x
Cloudnine HospitalsIndiaBangalorePrivate$101M-$321M3.2x
AcuityMDUnited StatesBoston, MAPrivate--$955M-

CluePoints Public Comps

CluePoints is no longer listed, but its public comps include Equasens, Claritev, Heren Health, Novartis India, Shang Gong Group, Veradigm, Evotec, RaySearch Labs, Weave Communications and Craneware.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Equasens$272M$75M1.9x1.8x7.0x6.7x
Claritev$965M$466M5.4x5.2x11.2x8.5x
Heren Health$65M$11M7.4x-42.4x-
Novartis India$37M$10M12.7x-47.4x-
Shang Gong Group$649M$27M1.0x-23.7x-
Veradigm$588M$54M0.9x0.9x9.8x6.8x
Evotec$908M$26M0.5x0.7x18.9x(10.9x)
RaySearch Labs$137M$59M4.4x4.2x10.1x9.3x

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Common questions about CluePoints

When was CluePoints founded?CluePoints was founded in 2012.
Where is CluePoints headquartered?CluePoints is headquartered in Philadelphia, PA, United States.
Is CluePoints publicly listed?No, CluePoints was acquired by EQT in June 2024.
Who acquired CluePoints?CluePoints was acquired by EQT in June 2024.
How much was CluePoints acquired for?CluePoints was acquired for $540M in June 2024.
How much funding has CluePoints raised?CluePoints has raised $7M across 1 funding round.
What was CluePoints' last funding round?CluePoints' last funding round was a $7M Series A in July 2015, led by S.R.I.W..
Who are CluePoints' investors?CluePoints' investors include S.R.I.W., Theodorus III and Nivelinvest.
Which companies are comparable to CluePoints?Companies comparable to CluePoints include Elligo Health Research, Nanjing Medlander Medical, BrightInsight, Simulations Plus, Cloudnine Hospitals and AcuityMD.

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