MedNet Solutions Receives $4 Million Investment for iMednet EDC Platform


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SDC's EDC partner, MedNet Solutions, received a $4 Million investment from Arrowroot Capital to accelerate iMedNet EDC sales, marketing and R&D initiatives.

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MedNet Solutions Receives $4 Million Investment for iMednet EDC Platform

  1. 1. For Immediate Release: July 14, 2014 ARROWROOT CAPITAL INVESTS $4 MILLION IN MEDNET SOLUTIONS Funds to Accelerate iMedNet™ EDC Sales, Marketing and R&D Initiatives Minnetonka, MN – MedNet Solutions, a global life sciences technology company specializing in clinical study management systems, is pleased to announce that Arrowroot Capital, a growth equity firm focused on software-as-a- service (SaaS) and Internet-based businesses, has made a $4 million investment in MedNet Solutions. This funding, representing the first major outside financing in the company’s history, will be instrumental in supporting the ongoing growth and development of both MedNet and iMedNet EDC, its flagship cloud-based eClinical technology platform. iMedNet EDC provides innovative, flexible solutions which enable clinical research professionals to quickly, easily and affordably construct their own studies. “MedNet is thrilled to be partnering with Arrowroot Capital,” said John M. (Rob) Robertson, President and CEO of MedNet Solutions. “Matt Safaii and his associates bring a wealth of SaaS experience and an outstanding track record of assisting companies like ours move to the next level. We’re extremely excited about our iMedNet EDC solution and how rapidly it is being accepted and implemented throughout the clinical research community. The timing is perfect to bring in a quality organization like Arrowroot that can provide access to the resources we need to fuel our continued growth.” “We are excited to partner with MedNet during its next stage of growth,” stated Matthew Safaii, Managing Partner of Arrowroot Capital. “Rob Robertson and his team have built a nimble, highly configurable and robust SaaS platform. The iMedNet EDC solution has demonstrated incredible traction among CROs and sponsors supporting clinical trials of all types and sizes. We’re looking forward to rolling up our sleeves and helping MedNet grow to its full potential.” Stay in touch with MedNet:  Check out our Blog  Watch us on YouTube  Visit us on LinkedIn  Follow us on Twitter About MedNet Solutions MedNet Solutions is a leading healthcare technology company specializing in electronic data solutions designed for the global life sciences community. MedNet’s proven, flexible and easy-to-use cloud-based eClinical systems dramatically improve the efficiency of clinical studies and registries of all types and sizes. Beyond simply electronic
  2. 2. data capture (EDC), MedNet’s solutions deliver the tools and dashboards required to expertly manage all aspects of clinical research. Since 2001, pharmaceutical, medical device, biotechnology and Contract Research Organizations (CROs) around the world have trusted MedNet to consistently deliver the technology innovation, experience and reliability they need for success. For more information, please visit About Arrowroot Capital Arrowroot Capital is a software-focused growth equity firm that invests in growing and healthy SaaS-based businesses across all industries. Due to Arrowroot’s business model expertise, the firm takes a hands-on approach in assisting portfolio companies reach their growth goals. Arrowroot typically targets investment opportunities of anywhere between $1 million and $15 million, but has access to larger pools of capital if needed. For more information, please visit MedNet Contact Information Dirk H. Nelson Director of Marketing MedNet Solutions 110 Cheshire Lane, Suite 300 Minnetonka, MN 55305 USA 763.258.2735 Arrowroot Contact Information Matthew J. Safaii Managing Partner Arrowroot Capital 100 Wilshire Blvd, Suite 1830 Santa Monica, CA 90401 USA 310.566.5966