Evidence Partners Inc., the market leader in AI-enabled literature review automation software and creator of DistillerSR, announced that it has closed a $20 million growth financing round led by Thomvest Ventures with participation from Pender Ventures and Export Development Canada (EDC). Evidence Partners will use the funds to accelerate global growth and hire additional product, engineering, sales, marketing, and customer success talent.
Bootstrapped since its formation in 2008, Evidence Partners pioneered the development of AI-enabled literature review software through the development of DistillerSR, which has had double-digit growth since the platform’s launch in 2009. Literature reviews are the cornerstone of evidence-based research, but their production has traditionally been highly manual, time consuming and error prone. Today, more than 300 of the world’s leading research organizations, including more than 60 per cent of the largest pharmaceutical and medical device companies, trust DistillerSR to securely produce transparent, audit-ready and regulatory compliant literature reviews faster and more accurately than any other method.
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“This new funding will allow us to further accelerate product innovation, enabling our customers to continue to bring life-changing medical products and research to market faster,” said Peter O’Blenis, CEO of Evidence Partners. “As the market leader for AI-enabled literature review software, the company will further invest in go-to-market initiatives to ensure that the global research community is aware of and can access this important technology.”
“The Evidence Partners team has built an industry-leading product and a global customer base of institutions and enterprises — all without external capital,” said Andrew Pinkerton, Partner at Thomvest Ventures. “We are excited to partner with Evidence Partners as they enter their next phase of growth.”
With more organizations using DistillerSR to automate their systematic reviews, healthcare researchers can make more informed and time-sensitive health policy decisions, clinical practice guidelines and regulatory submissions, and deliver better overall research.
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