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- ConcertAI
ConcertAI Revenue, Valuation, Funding & Investors
ConcertAI is valued at $1.9B as of March 2022, a 9.5x multiple on its last reported $200M revenue.
Last ConcertAI valuation
$1.9B
Series C · Mar 2022
Last ConcertAI funding round
$150M
Series C · Mar 2022
ConcertAI revenue
$200M
Series C · Mar 2022
Key investors in ConcertAI
Maverick Ventures
Sixth Street
Declaration Partners
AllianceBernstein
SymphonyAI
About ConcertAI
ConcertAI is a Boston-headquartered company founded in 2018 that supplies AI-powered real-world evidence platforms for oncology research. It aggregates de-identified patient data from over 2 million cancer cases across U.S. health systems and delivers analytics for clinical trial design, site selection, and regulatory submissions. The firm partners with pharmaceutical companies like Pfizer and Bristol Myers Squibb to accelerate drug development.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$200M (Mar 2022)
Valuation
$1.9B (Mar 2022)
ConcertAI Valuation
ConcertAI is currently valued at $1.9B, based on its Series C in March 2022.
The $150M round was led by Sixth Street.
ConcertAI valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2022 | Series C | $1.9B | 9.5x |
ConcertAI Revenue
ConcertAI's latest recorded revenue is $200M, as of its Series C in March 2022. At a $1.9B valuation, that implies a 9.5x revenue multiple.
ConcertAI revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2022 | $200M | $1.9B | 9.5x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
ConcertAI Funding History
ConcertAI has raised a total of $300M across 2 funding rounds.
ConcertAI's first fundraising round was a $150M Series B in January 2020. The most recent completed round was a $150M Series C in March 2022.
ConcertAI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Series C | Sixth Street (lead) | $150M | $1.9B | ConcertAI, a leader in enterprise AI and real-world data solutions for life sciences and healthcare, closed a $150 million Series C funding round led by Sixth Street on March 29, 2022, achieving a $1.9 billion post-money valuation. Formerly known as Concerto HealthAI, the five-year-old Cambridge, Massachusetts-based company provides software-as-a-service and data products focused on oncology, serving over 45 healthcare and life sciences companies, contract research organizations, medical societies, and regulators across the US, Europe, and Japan. Its offerings support clinical trials, regulatory clearance, patient outcomes, precision medicine, and real-world evidence generation, with partnerships including Janssen, BMS, and the US FDA. The funding, bringing total capital raised to $330 million including a prior $150 million Series B in January 2020, will fuel product expansion, sales and marketing, AI enhancements, and acceleration of platform growth for biopharma collaborations. ConcertAI, part of the larger SymphonyAI group which acquired imaging AI firm TeraRecon in 2020, employs around 1,000 people and has supported approximately 40 new product launches, improving time on therapy by 10% and reducing clinical trial design and execution times by up to 25%. Sixth Street's investment validates ConcertAI's position in the rapidly growing oncology real-world data market, estimated at $1 billion and targeting hundreds of billions in healthcare spend. Key executives highlighted the company's ecosystem of biomedical innovators and providers, with Sixth Street placing Adam Kaye on the board and Lee Mooney as observer. ConcertAI aims to embed its solutions deeper into clinical trial processes, drug discovery, health economics outcomes research, and digital trial advancements to speed biomedical innovations and enhance patient outcomes. |
| Jan 2020 | Series B | Declaration Partners (lead); SymphonyAI; Maverick Ventures; AllianceBernstein | $150M | - | ConcertAI, previously known as Concerto HealthAI, is a provider of real-world data and AI-driven solutions for healthcare providers, life sciences, and biopharma, focusing on oncology, clinical trials, patient outcomes, and therapeutic lifecycle support. Around the 2020 Series B, ConcertAI had partnerships with major pharma like Janssen (cancer collaboration started early 2020, later expanded), Pfizer, and Bristol-Myers Squibb for study design, clinical trials, and real-world evidence. The company offered data-as-a-service and AI SaaS for biopharma, clinical decision support via TeraRecon, supporting over 40 product launches and partnerships with 45+ life sciences entities by 2022. ConcertAI achieved unicorn status with the 2022 Series C, bringing total funding to $320M over multiple rounds, with investors like Sixth Street joining prior backers. Earlier, a 2017 Series A had a post-money valuation of $83.16M. The firm grew to 1,000 employees by 2022, positioning as a leader in healthcare AI and real-world data. |
Who has invested in ConcertAI?
5 investors have backed ConcertAI across its funding rounds, including Maverick Ventures, Sixth Street, Declaration Partners, AllianceBernstein and SymphonyAI.
Lead investors include Sixth Street and Declaration Partners.
ConcertAI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Jan 2020 | ||
| 1 | Participant | Jan 2020 | ||
| 1 | Lead | Mar 2022 | ||
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Start Free TrialAcquisitions by ConcertAI
ConcertAI has acquired 2 companies to date.
Last acquisition by ConcertAI was on December 11th 2023. ConcertAI acquired CancerLinQ for undisclosed valuation.
Latest Acquisitions by ConcertAI
| Description | CancerLinQ is a clinical data platform accelerating oncology research and care quality. Washington, D.C.-based and launched by the American Society of Clinical Oncology in 2014, it aggregates de-identified records from 1.8 million patients across 250 practices for real-world evidence on immunotherapies and targeted agents. Tools enable benchmarking survival metrics and trial matching, with partnerships including Flatiron Health for genomic insights and Pfizer for drug lifecycle analysis. | TeraRecon is a Foster City-headquartered provider of advanced medical imaging software for CT, MR, and PET scans. The company delivers 3D visualization tools, image processing platforms like Aquarius, and AI-powered decision support systems. Founded in 1997, TeraRecon earned seven Frost & Sullivan awards, including Company of the Year for European Advanced Visualization in 2010 and North American Growth Leadership. It maintains offices in Frankfurt, Concord, and Tokyo, serving radiology departments worldwide with integrated workflow solutions. |
| HQ Country | ||
| HQ City | Washington, DC | San Francisco, CA |
| Deal Date | 11 Dec 2023 | 9 Nov 2021 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all ConcertAI acquisitions and their M&A valuation multiples. Start Free Trial | ||
ConcertAI Competitors
ConcertAI competitors include listed companies like Yidu Tech and Schrödinger, and private ones like EliseAI, Hippocratic AI, Abridge and Commure.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $122M | ($4M) | $449M | 1.2x | ||
| Private | $100M | - | $2.2B | 22.0x | ||
| Private | - | - | $3.5B | - | ||
| Private | $117M | - | $5.3B | 45.3x | ||
| Private | $200M | - | $7B | 35.0x | ||
| Publicly listed | $256M | ($96M) | $2.3B | 7.9x |
ConcertAI Public Comps
ConcertAI is still privately-owned, but its public comps include Qingdao Baheal Medical, Schrödinger, Shenzhen Ysstech Info, Omnicell, Indegene, Tieto, BigBear.ai, EverCommerce, Fractal Analytics and U.S. Physical Therapy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | $139M | 1.9x | 1.9x | 15.1x | 16.8x | |||
| $256M | ($96M) | 7.6x | 7.9x | (20.3x) | (14.0x) | |||
| $205M | $4M | 7.2x | - | 378.8x | - | |||
| $1.2B | $92M | 1.2x | 1.1x | 15.0x | 8.1x | |||
| $366M | $68M | 3.7x | 3.3x | 19.9x | 18.2x | |||
| $2.1B | $186M | 1.3x | 1.4x | 15.2x | 7.9x | |||
| $128M | ($295M) | 8.3x | 7.6x | (3.6x) | (27.8x) | |||
| $589M | $128M | 3.0x | 2.9x | 13.7x | 9.5x | |||
This data is available for Pro users. Sign up to see all ConcertAI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ConcertAI
| When was ConcertAI founded? | ConcertAI was founded in 2018. |
| Where is ConcertAI headquartered? | ConcertAI is headquartered in United States. |
| Is ConcertAI publicly listed? | No, ConcertAI is a private, VC-backed company. |
| What is ConcertAI's valuation? | ConcertAI was last valued at $1.9B in its Series C in March 2022. |
| How much funding has ConcertAI raised? | ConcertAI has raised $300M across 2 funding rounds. |
| What was ConcertAI's last funding round? | ConcertAI's last funding round was a $150M Series C in March 2022, led by Sixth Street. |
| Who are ConcertAI's investors? | ConcertAI's investors include Declaration Partners, SymphonyAI, Sixth Street, Maverick Ventures and AllianceBernstein. |
| What is ConcertAI's revenue? | ConcertAI's latest recorded revenue is $200M (March 2022). |
| What is ConcertAI's revenue multiple? | ConcertAI's latest valuation implies a 9.5x revenue multiple ($1.9B valuation on $200M of revenue). |
| Which companies are comparable to ConcertAI? | Companies comparable to ConcertAI include Yidu Tech, EliseAI, Hippocratic AI, Abridge, Commure and Schrödinger. |
| How many companies has ConcertAI acquired? | ConcertAI has acquired 2 companies, including CancerLinQ and Terarecon. |
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