Reify Health Valuation, Funding & Investors

Reify Health is valued at $4.8B as of April 2022.

Last Reify Health valuation

$4.8B

Series D · Apr 2022

Last Reify Health funding round

$220M

Series D · Apr 2022

Cumulative funding Reify Health raised

$479M

across 5 funding rounds

Key investors in Reify Health

  • Battery Ventures
  • Sierra Ventures
  • Coatue
  • ICONIQ Capital
  • Adams Street Partners
  • Asset Management Ventures (AMV)

Reify Health Overview

About Reify Health

Reify Health is a Boston-headquartered provider of cloud-based software for clinical trial operations. Its StudyTeam platform streamlines patient recruitment, site activation, and enrollment tracking for sponsors, CROs, and research sites. The system integrates with electronic health records and delivers real-time dashboards, used in trials across oncology, rare diseases, and neurology.


Founded

2012

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$4.8B (Apr 2022)

Reify Health Valuation

Reify Health is currently valued at $4.8B, based on its Series D in April 2022.

The $220M round was led by Altimeter Capital and Coatue, with participation from Adams Street Partners, Dragoneer, ICONIQ Capital, Battery Ventures and Olive Technology Ventures.

Reify Health's valuation has grown 2.2x from $2.2B at its Series C in August 2021 to $4.8B in April 2022, across 2 priced rounds.

Reify Health valuation by funding round

Reify Health valuation by funding round
DateStageValuation
Apr 2022Series D$4.8B
Aug 2021Series C$2.2B

Reify Health Funding History

Reify Health has raised a total of $479M across 5 funding rounds.

Reify Health's first fundraising round was a $1M seed round in March 2014. The most recent completed round was a $220M Series D in April 2022.

Reify Health funding rounds

Reify Health funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2022Series DAltimeter Capital (lead); Coatue (lead); Adams Street Partners; Dragoneer; ICONIQ Capital; Battery Ventures; Olive Technology Ventures$220M$4.8BReify Health raised a Series D funding round of $220 million on April 21, 2022, led by Altimeter Capital and Coatue, with participation from Adams Street Partners, Battery Ventures, Dragoneer Investment Group, ICONIQ Growth, and Olive Technology Ventures. Total funding across rounds reached approximately $483.64 million by that point, with prior Series C in August 2021 at a $2.2 billion valuation. The company develops software to optimize clinical trials, aiming to eliminate waiting times through platforms like OneStudyTeam, partnering with biopharma companies, research clinics, and healthcare organizations to accelerate drug development. Reify Health operates in the healthcare software space, focusing on trial infrastructure and accessibility, with headquarters in Boston and around 900 employees.
Aug 2021Series CCoatue (lead); Adams Street Partners; ICONIQ Capital; Battery Ventures; Sierra Ventures$220M$2.2BReify Health, a Boston-based company founded in 2012, develops software and services to streamline clinical trials, operating through StudyTeam for patient recruitment and enrollment across thousands of sites globally and Care Access for building trial sites and mobile patient engagement. The Series C funding round on August 10, 2021, raised $220 million led by Coatue Management, with participation from ICONIQ Growth, Adams Street Partners, Sierra Ventures, and Battery Ventures. This round achieved a $2.2 billion valuation, more than doubling from prior rounds and reflecting investor confidence amid rising demand for decentralized trials accelerated by the COVID-19 pandemic. StudyTeam supports biopharma companies like Amgen, AstraZeneca, and Eli Lilly at 4,000 research sites in 65 countries, with plans to expand into China and Russia, enhancing capabilities for end-to-end decentralized trial management. Care Access has established over 60 trial sites since 2015, deploying mobile site vehicles in the U.S. and preparing for international growth by integrating with local healthcare systems. The funding aims to scale both platforms globally, accelerate adoption, develop AI-driven tools, and optimize patient access to eliminate delays in clinical trials. Prior to Series C, Reify raised $30 million in a Series B in August 2020 led by Battery Ventures and Sierra Ventures. The company followed with a Series D in April 2022, raising another $220 million from Altimeter Capital, Coatue, Dragoneer, ICONIQ Growth, Adams Street Partners, and Battery Ventures, building on the momentum from the 2021 round. Total funding across rounds exceeded $478 million by 2022, positioning Reify against competitors like Science 37 in the evolving clinical trial infrastructure market.
Aug 2020Series BBattery Ventures (lead); Asset Management Ventures (AMV); Sierra Ventures$30M-Reify Health is a healthcare software company based in Boston, Massachusetts, focused on accelerating clinical trials through optimization software and infrastructure, including entities like OneStudyTeam and Care Access, partnering with biopharma, research clinics, and healthcare organizations to deliver trials to providers and patients. The company has raised substantial funding totaling around $483.64M across 9-10 rounds as of 2022, with investors including Battery Ventures. Subsequent rounds include Series C in August 2021 at $2,200M valuation and Series D for $220M in April 2022 with Battery Ventures and others like Altimeter and Coatue.
Dec 2018Series ASierra Ventures (lead)$8M-Reify Health raised a $7.5 million Series A funding round led by Sierra Ventures in December 2018. The company provides cloud-based software solutions to optimize clinical trial enrollment processes, connecting study sites, sponsors, and patients. Sierra Ventures highlighted Reify Health's capital efficiency and rapid growth trajectory following the initial investment.
Mar 2014SeedAsset Management Ventures (AMV) (lead); Tarun Upaday$1M--

Who has invested in Reify Health?

10 investors have backed Reify Health across its funding rounds, including Battery Ventures, Sierra Ventures, Coatue, ICONIQ Capital, Adams Street Partners and Asset Management Ventures (AMV).

Lead investors include Altimeter Capital, Coatue, Battery Ventures, Sierra Ventures and Asset Management Ventures (AMV).


Reify Health Investors

Investors in Reify Health by funding rounds participated
InvestorHQRoundsRoleFirst check
Battery VenturesUnited StatesBoston, MA3LeadAug 2020
Sierra VenturesUnited StatesSan Francisco, CA3LeadDec 2018
Adams Street PartnersUnited StatesChicago, IL2ParticipantAug 2021
ICONIQ CapitalUnited StatesSan Francisco, CA2ParticipantAug 2021
Asset Management Ventures (AMV)United StatesSan Francisco, CA2LeadMar 2014
CoatueUnited StatesNew York City, NY2LeadAug 2021
DragoneerUnited StatesSan Francisco, CA1ParticipantApr 2022
Tarun UpadayUnited StatesWashington, DC1ParticipantMar 2014

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Reify Health Competitors

Reify Health competitors include listed companies like Vitec Software, Doximity, Waystar and Topicus, and private ones like VIPKID and Abridge.

Public and private companies comparable to Reify Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Vitec SoftwareSwedenSwedenPublicly listed$371M$151M$1B3.5x
DoximityUnited StatesUnited StatesPublicly listed$645M$229M$4.7B6.2x
WaystarUnited StatesUnited StatesPublicly listed$1.1B$390M$5.1B5.2x
VIPKIDChinaBeijingPrivate$750M-$4.5B-
AbridgeUnited StatesPittsburgh, PAPrivate$117M-$5.3B45.3x
TopicusNetherlandsNetherlandsPublicly listed$1.8B$393M$5.4B3.0x

Reify Health Public Comps

Reify Health is still privately-owned, but its public comps include Doximity, Waystar, Topicus, CCC Intelligent Solutions, IPE Universal, Stride, East Buy, Privia Health, Tieto and Schrödinger.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Doximity$645M$229M6.3x6.2x17.7x11.9x
Waystar$1.1B$390M5.8x5.2x16.3x12.3x
Topicus$1.8B$393M3.4x3.0x15.3x10.6x
CCC Intelligent Solutions$1.1B$238M4.8x4.5x21.5x10.8x
IPE Universal$15M$3M236.1x-1350.5x-
Stride$2.5B$580M1.2x1.2x5.1x4.8x
East Buy$850M$98M3.0x2.8x26.3x22.4x
Privia Health$2.1B$44M1.0x0.9x50.2x15.3x

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Common questions about Reify Health

When was Reify Health founded?Reify Health was founded in 2012.
Where is Reify Health headquartered?Reify Health is headquartered in Boston, MA, United States.
Is Reify Health publicly listed?No, Reify Health is a private, VC-backed company.
What is Reify Health's valuation?Reify Health was last valued at $4.8B in its Series D in April 2022.
How much funding has Reify Health raised?Reify Health has raised $479M across 5 funding rounds.
What was Reify Health's last funding round?Reify Health's last funding round was a $220M Series D in April 2022, led by Altimeter Capital and Coatue.
Who are Reify Health's investors?Reify Health's investors include Battery Ventures, Sierra Ventures, Adams Street Partners, ICONIQ Capital, Asset Management Ventures (AMV), Coatue, Dragoneer, Tarun Upaday, Altimeter Capital and Olive Technology Ventures.
Which companies are comparable to Reify Health?Companies comparable to Reify Health include Vitec Software, Doximity, Waystar, VIPKID, Abridge and Topicus.

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