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Faro Health

Clinical trial design and collaboration platform

Overview

Faro Health provides a software platform that helps research teams design and run clinical trials more efficiently. It offers a single, flexible surface where users can manage data, documents, words, and team collaboration, consolidating protocols, spreadsheets, and workflow apps in one place. The platform works by centralizing all components needed for protocol design and trial execution, enabling teams to design, review, and implement trials with less back-and-forth and faster decision-making. Faro Health differentiates itself by offering an integrated, end-to-end environment focused on reducing operational cycle time and improving trial quality through centralized data and workflows, rather than scattering resources across separate tools. The company’s goal is to help research teams design and implement clinical trials more efficiently and effectively, shortening timelines and streamlining processes through a subscription-based software solution.

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About Faro Health

Simplify's Rating
Why Faro Health is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Enterprise SoftwareHealthcare

Company Size

51-200

Company Stage

Series B

Total Funding

$72.3M

Headquarters

San Diego, California

Founded

2019

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Simplify's Take

What believers are saying

  • Faro raised $37.3 million on August 26, 2026, extending runway and hiring capacity.
  • The 2026 BMS partnership validates enterprise demand across a top-tier drugmaker's development organization.
  • Faro's 2024 Merck study showed shorter, cheaper trials from its Study Designer tool.

What critics are saying

  • BMS and Merck concentration creates customer power risk if either renews slowly in 2027.
  • Microsoft, Veeva, and Oracle can bundle adjacent workflow features and compress Faro's pricing.
  • Agentic AI failures in protocol generation would damage trust, trigger audits, and stall enterprise adoption.

What makes Faro Health unique

  • Faro Health became Bristol Myers Squibb's system of record for structured protocol design in 2026.
  • Merck collaborated with Faro in 2024 to quantify lean trial-design improvements.
  • Faro's platform unifies protocols, spreadsheets, documents, and workflows into one clinical-development surface.

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Funding

Total Funding

$72.3M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Meet Average

Industry standards

$35M
$37.3M
$45M
$65M
$100M

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • Unlimited Paid Time Off
  • Paid Sick Leave
  • Paid Holidays
  • Training Programs
  • Hybrid Work Options
  • 401(k) Retirement Plan
  • Stock Options

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

-3%

2 year growth

1%
Access Newswire
Aug 26th, 2026
Faro Raises $37.3M Series B to Scale Agentic AI Across Clinical Development

Round co-led by Merck Global Health Innovation Fund and S32, with participation from all existing investors SAN DIEGO, CA / ACCESS Newswire / August 26, 2026 ...

EZ Newswire
Aug 26th, 2026
Faro Raises $37.3M Series B to Scale Agentic AI Across Clinical Development

Round co-led by Merck Global Health Innovation Fund and S32, with participation from all existing investors

Newswire
Jun 17th, 2024
Faro Health Inc. Appoints Vivian DeWoskin as Chief Strategy Officer

Faro Health Inc. appoints Vivian DeWoskin as Chief Strategy Officer.

PharmiWeb
Jun 17th, 2024
Faro Health Inc. Appoints Vivian Dewoskin As Chief Strategy Officer

Vivian joins Faro Health Inc. as the company aims to accelerate the growth and adoption of its market-leading SaaS platform for data-driven clinical development.SAN DIEGO, CA / ACCESSWIRE / June 17, 2024 / Faro Health Inc., the leading SaaS platform for data-driven clinical development, is pleased to announce the appointment of Vivian DeWoskin as Chief Strategy Officer.Vivian joins the Faro Health team as the company looks to significantly accelerate the market footprint for its AI-based platform, which aims to transform the clinical trial protocol development process by enabling data-driven, patient-focused decisions in protocol development. Vivian brings a unique combination of skills and experience gained across roles in consulting, sales, product strategy, and commercial leadership that will be essential in defining and solidifying Faro's leadership position in the market.Vivian's passion for the intersection of AI and healthcare began in her undergraduate education at Princeton University, where she studied cognitive and computational neuroscience and developed a deep appreciation for data and predictive modeling. She spent the early years of her career deeply immersed in all stages of drug development and commercialization at Trinity Life Sciences, gaining first-hand experience in the challenges of bringing new therapeutic innovations to market in an efficient and competitive manner. After pursuing her MBA at Berkeley-Haas, Vivian joined Komodo Health in 2019, where she would eventually serve as VP and Head of Strategy, situated at the intersection of commercial leadership and market strategy, as Komodo scaled their data and analytics software business to hundreds of life sciences customers. Most recently, Vivian returned to her neuroscience roots and deepened her passion for supporting Clinical Development as Chief Commercial Officer of NeuraLight, a digital biomarker company focused on neurodegenerative disease

PharmiWeb
May 29th, 2024
New Study Quantifies The Impact Of Improved Clinical Trial Design Using Faro Health’S Study Designer Tool

Digital tool gives real-time feedback on the impact of changes to clinical study protocols, helping clinical teams reduce the cost, duration and burden of studies on sponsors, sites and patients

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