Condor Software, the Financial Intelligence Platform for life sciences, today announced it has closed a $24 million Series A funding round led by global software investor Insight Partners, with participation from Felicis, 645 Ventures, Pamir Ventures, SNR Ventures, Prebys Ventures, and Bramalea Partners. Condor has raised a total of $36 million in funding.
Pharmaceutical companies spend an estimated $300 billion annually on R&D. While AI is rapidly reshaping how drugs are discovered and developed, the financial infrastructure that determines which programs get funded still runs on spreadsheets that require manual reconciliation across disconnected CRO portals, ERP systems, and accounting tools. As a result, many promising trials are paused or cancelled because accounting, FP&A, and clinical operations teams lack real-time clarity on trial spend, budget performance, asset value, and whether additional investment is justified.
Condor’s Founder and CEO Jennifer Kyle built the accounting workflows that the pharmaceutical industry uses to manage clinical trial finances. She founded Condor, and built the company’s AI-powered Financial Intelligence Platform, to automatically consolidate clinical, operational, and financial data and enable life sciences teams to move faster, save money, and operate with confidence. Condor’s platform is built on proprietary clinical and financial ontologies that map the relationships between trial protocols, site-level activity, vendor contracts, and accounting rules. The platform’s knowledge architecture was developed over years with Big 4 accounting firms and embedded in audit-grade workflows. The platform features three core modules:
- Connect integrates clinical and financial data across the enterprise ecosystem into a single source of truth.
- Compass forecasts costs, models scenarios, and surfaces risk as programs evolve.
- Copilot automates accruals, reconciliations, and monthly close tasks.
Condor manages over $19 billion in R&D spend and is trusted by accounting, FP&A, and clinical operations teams at emerging biotechs and leading biopharma organizations, including Acadia Pharmaceuticals, Alumis Therapeutics, BridgeBio Pharma, and Madrigal Pharmaceuticals. The company’s customers report over 90 percent forecast accuracy, 70 percent faster month-end close, and 30 percent average budget savings.
Condor will leverage its Series A funding to accelerate the expansion of its platform, bolster its enterprise capabilities for industry-leading pharmaceutical companies, and scale its engineering, product, design, sales, and customer success teams, building upon a team that includes leaders with experience at Medidata, BenchSci, Oracle, Benchling, Salesforce Life Sciences, and EY.
Supporting Quotes
“I’ve seen firsthand that therapies save lives. Too often though, promising therapies are killed in budget meetings by data that’s months out of date. This isn’t a science problem; it’s a financial visibility problem. That’s why I founded Condor—to give life sciences companies the financial clarity they need to bring life-changing therapies to patients. When the economics become clear, good therapies find their way to success. Closing our Series A round underscores that we have a winning vision and platform. Now we must continue to attract and empower extraordinary talent to deliver even more value to clinical teams, expand our platform’s enterprise capabilities, and scale Condor globally.”
— Jennifer Kyle, Founder and CEO, Condor
“What drew me to Condor was the automation. Our team works with gigantic files, dozens of tabs, and thousands of rows of data. To automate all of that previously manual work is life changing. We expect Condor to boost our operating efficiency by thirty to forty percent.”
— Vince Barella, Director of Research and Development Accounting, Alumis
“Condor has built the financial intelligence layer underneath clinical trial management, which is where some of the most consequential decisions in drug development are made. Jennifer is creating a new category in financial products for pharmaceutical and life sciences companies, providing the foundation for AI-powered finance workflows. We’re thrilled to partner with her and the Condor team.”
— Alexander Leibowitz, Vice President at Insight Partners
“Clinical trial finance is one of the last major workflows in drug development that still runs on spreadsheets. In an industry that spends more on R&D than almost any other, the financial stakes are enormous. Condor moves the industry toward an AI-enabled future driving tremendous ROI.”
— Richard Matus, Principal at Insight Partners
