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Phase Forward

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Provider of integrated data collection and data management solutions for clinical trials and drug safety

Waltham, United StatesFounded 1997Health
Valuation $500M–1B Last recorded · 2010
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Phase Forward and the history behind them.

About Phase Forward

Phase Forward, founded in 1997 by Paul Bleicher, was a key player in shifting the pharmaceutical clinical trial industry from paper-based data collection to web-based electronic data capture (EDC). Bleicher, a physician-scientist with an M.D. and a Ph.D. in Microbiology, transitioned from a career in academic medicine at Harvard Medical School to the private sector, aiming to apply data solutions to life sciences. His experience at an early contract research organization and a biotech startup informed his vision for Phase Forward.

The company specialized in providing integrated data collection and management solutions tailored for clinical trials and drug safety. Its primary clients included biopharmaceutical companies, medical device firms, contract research organizations (CROs), and regulatory agencies. Phase Forward operated on a Software-as-a-Service (SaaS) model, offering a suite of applications that managed the clinical development process, from early-phase trials through to regulatory submission and post-marketing surveillance. This business model provided recurring revenue and established the company as a mission-critical vendor in the life sciences sector.

Phase Forward's core offering was its Integrated Clinical Research Suite. A key product within this suite was InForm, an EDC platform that provided comprehensive data entry, real-time edit-checking, query management, and robust reporting capabilities. The InForm Global Trial Management (GTM) solution was designed for complex, global trials, featuring a user interface that streamlined workflows and supported multiple languages. Another significant product family was Empirica, which focused on pharmacovigilance and risk management. This included Empirica Trace for adverse event reporting and Empirica Study for detecting safety signals in clinical trial data. The company's technology was utilized in over 10,000 clinical trials, involving more than one million participants across hundreds of organizations worldwide.

A major milestone in the company's history was its acquisition by Oracle in April 2010 for approximately $685 million. The acquisition was a strategic move by Oracle to expand its Health Sciences Global Business Unit, integrating Phase Forward's applications to create a more comprehensive offering for the life sciences industry. Following the acquisition, Phase Forward's management and employees became part of this Oracle division.

Source: Dealroom company data

At a glance

Status
Acquired
Founded
1997
Headquarters
Waltham, United States
Employees
81
Open positions
None listed
Dealroom signal
53.6/100
Industry
Health
Sector
Health, Clinical, Medical Data, Tech for Biotech and Pharma, Hard Tech, Health It
Client focus
b2b
Investment activity
1 company, latest Apr 2009
Capital deployed
—
Preferred round
ACQUISITION

Funding history

4 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
ACQUISITION✓Exit Apr 2010 $685M $685M Oracle —
IPO✓Exit Jul 2004 $0 — Undisclosed —
Showing the latest 2 of 4 recorded eventsBook a demo for the full funding history →

Growth signals

Phase Forward website traffic

Latest recorded traffic for Phase Forward is 840 monthly website visits, down 63.5% over the last three months. Phase Forward's team declined 42.6% over the past year.

Latest monthly visits840 3-month web change-63.5% 1-year team growth-42.6%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

10 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later7 investors entered at this stage

  • HLM Venture Partners
  • SV Health Investors
  • Atlas Venture
  • Thomas Weisel Partners
  • Sprout Group
  • Bioventures Investors
  • Pacific Venture Group

Other known investors3 additional known investors

  • NEA
  • Oracle
  • Technology Pioneers | World Economic Forum
Team profiled 46 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
2 countries with
team presence
🇺🇸 United States50%
🇮🇳 India50%
2 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Phase Forward on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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