Flywheel raises $22M, buys competitor

In a large clinical trial, a pharmaceutical company might collect information from hundreds of patients. But there are several steps in between collecting that data and making it usable for research.

Flywheel, a company helping automate these processes, raised $22 million in funding led by 8VC. It’s using a portion of the funds to acquire longstanding competitor Radiologics. Although the companies did not disclose the terms of the deal, Flywheel CEO Jim Olson said about half of the funds are for the acquisition, including equity, and the other half is to extend the combined company’s runway.