Mural Health Technologies, a next-generation clinical trial participant management platform, has secured $8 million in seed funding, led by Bessemer Venture Partners, with participation from Virtue VC, Operator Partners, Arkitect Ventures, Correlation Ventures, and Project Mayhem Ventures.
Mural Health was founded in 2022 to modernize the clinical trial experience for participants, making it easier for them to take part in trials. The company’s software platform, Mural Link, provides a next-generation payment tech that is integrated with transportation, communication, and data collection functionalities.
Clinical trials can often be burdensome for participants, which can lead to reduced enrollment and retention. Mural Link addresses this issue by giving participants the power to choose how they receive payment, eliminating inactivity fees associated with prepaid debit cards. The platform also offers functionality to help patients arrive at site visits without incurring a cash expense through an Uber integration. Additionally, Mural Link facilitates secure participant messaging and real-time experiential feedback to optimize the trial experience.
Sam Whitaker, Co-CEO and Co-Founder of Mural Health, stated, “Participants in clinical trials often get overlooked as the industry, and the world, focuses on study results. But patients and their caregivers represent ground-zero. They are the source of data, and without their participation, new therapies cannot be safely brought to market.”
Mural Health’s platform serves participants well, leading to improved enrollment, retention, and protocol compliance. The company already has three of the top 15 pharmaceutical companies in the world as customers, along with several biotechs and research sites.
Steve Kraus, who led the investment for Bessemer Venture Partners, said, “Mural Health has become the clear product leader in its category, and I am excited to watch the story unfold and see what this very experienced and driven team is able to create.”
Mural Health’s innovative platform represents an important step in improving the clinical trial experience for participants and ensuring that the data necessary for the development of new therapies is collected effectively and efficiently.