Auxilius Raises $10M in Funding and Expands Partnerships with Over 50 Biopharma Companies

Auxilius, a groundbreaking Clinical Trial Financial Management (CTFM) software, is making waves in the biopharma industry with its rapid growth and strong partnerships with over 50 innovative biopharma companies. The recent $10M fundraise led by SignalFire is a testament to Auxilius’s success, with annual recurring revenue growing by an impressive 800% year-over-year in 2023.

In an industry where cost management is crucial, Auxilius fills a critical gap by providing a solution to manage the largest cost in biopharma – clinical trials. With $250B spent on R&D annually, the need for efficient financial decision-making is more important than ever. Auxilius empowers its customers to manage clinical spend rigorously, mitigate risks, and improve team efficiency, ultimately driving business forward.

The impact of Auxilius goes beyond mere efficiency gains; it has the potential to revolutionize how clinical R&D expenses are managed, accelerating the pace of innovation in medical breakthroughs. Clients of Auxilius have seen significant improvements in efficiency and effectiveness, with a 75% reduction in time spent on monthly accounting tasks, a 40% improvement in study budget accuracy, and 80% of customers identifying vendor billing mistakes within their first 60 days on the platform.

With a diverse range of customers in terms of therapeutic focus, filing status, and geographic footprint, Auxilius continues to grow its customer base. The company has also strengthened its relationships with Big 4 accounting firms and other organizations to support biopharma companies in their digitization journey.

As Auxilius CEO and co-founder Adam Weisman states, “Our rapid growth and adoption is a testament to our underlying value proposition and the establishment of Auxilius as an essential part of the biopharma toolstack.” With ongoing innovation and a commitment to product excellence, Auxilius is poised to continue building momentum in the industry it is creating.

To learn more about Auxilius and how it is transforming the financial management of clinical trials in the biopharma industry, visit their website at www.auxili.us or follow them on LinkedIn at https://www.linkedin.com/company/auxilius/.