Fast-growing local tech firm Greenlight Guru has acquired Denmark-based Smart-Trial—Greenlight Guru’s first international acquisition and its third so far this year.
The acquisition closed May 16, and Greenlight Guru announced it Thursday morning. Financial terms were not disclosed.
Smart-Trial’s three founders and their 20-plus employees have now joined Greenlight Guru.
Greenlight Guru, which was founded in 2013, offers quality-management software that helps medical device makers navigate regulatory requirements. The company has 199 employees, 116 of whom are local and 83 of whom live elsewhere and work remotely.
Smart-Trial, also founded in 2013, offers data-collection tools that help customers comply with regulatory requirements for collection of clinical data.
Greenlight Guru says the acquisition will help it better serve its customers.
“Sixty percent of Greenlight Guru clients are currently running a clinical trial or are expecting to run one in the next two years, and over half of those are still using paper or Excel to manage the data,” Greenlight Guru CEO David DeRam said in a written statement. “That is not only costly but extremely risky given the increasingly strict regulations on clinical data quality.”
Smart-Trial is the latest in a series of acquisitions Greenlight Guru has recently completed. Last week, the company announced its acquisition of Zionsville-based data science company Vertex Intelligence. And in January, Greenlight Guru announced its acquisition of North Carolina-based software company CanvasGT.
In June 2021, Greenlight Guru received a $120 million investment from JMI Equity, an investment firm that has offices in both Baltimore and San Diego.