Evidence Partners Raises $20M in Growth Funding to Fuel Its Global Expansion and Talent Acquisition

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Double Digit Growth of Literature Review Software Platform, DistillerSR, Sparks Formation of Growth Investment Consortium Led by Thomvest Ventures

OTTAWA (ON), August 9, 2022 /CNW/ – Evidence Partners® Inc., the market leader in AI-based literature review automation software and creator of DistillerSR™, today announced the closing of a $20 million Growth financing round led by Thomvest Ventures with participation from Pender Ventures and Export Development Canada (EDC). Evidence Partners will use the funds to accelerate global growth and hire additional product, engineering, sales, marketing and customer success talent.

Started since its inception in 2008, Evidence Partners has pioneered the development of AI-based literature review software through the development of DistillerSR, which has seen double-digit growth since launching the platform in 2009. Literature reviews are the cornerstone of evidence-based research, but their production has traditionally been very manual, time-consuming, and error-prone. Today, more than 300 of the world’s leading research organizations, including more than 60% of the largest pharmaceutical and medical device companies, trust DistillerSR to securely produce transparent, audit-ready literature reviews and compliant, faster and more accurately than any other method. .

“This new funding will allow us to further accelerate product innovation, enabling our customers to continue to bring life-changing medical products and research to market faster,” said Peter O’Blenis, CEO of Evidence Partners. “As the market leader in AI-powered literature review software, the company will further invest in go-to-market initiatives to ensure the global research community is aware of this important technology and can access it.

“The Evidence Partners team has built an industry-leading product and a global customer base of institutions and enterprises, all without external capital,” said Andrew Pinkerton, partner at Thomvest Ventures. “We are delighted to partner with Evidence Partners as they enter their next phase of growth.”

With more and more organizations using DistillerSR to automate their systematic reviews, health researchers can make more informed and faster health policy decisions, clinical practice guidelines and regulatory submissions, and provide better overall research .

About proof partners

For more information about Evidence Partners and DistillerSR, visit www.evidencepartners.com.

About Thomvest Ventures

Thomvest Ventures is a multi-stage venture capital fund backed by Peter Thomson. The company focuses on financial technology and proptech, cybersecurity and cloud infrastructure, and sales and marketing technology. Thomvest Ventures has been investing in entrepreneurs for over 25 years through its offices in Silicon Valley and Toronto. The company is committed to helping our businesses become leaders in their fields through our partnership and our focus on understanding where value can be created in these industries. To find out more, visit Thomvest.com.

About Pender Ventures

Pender Ventures is the brand of Pender Private Equity Fund Management Inc. (“Pender Ventures”), which is the investment arm of the private technology company of PenderFund Capital Management (“PenderFund”). Pender Ventures is 100% owned by PenderFund, an independent and diversified asset manager based in Vancouver, BC. The PenderFund family of funds invests in private and public equity and fixed income securities. For more information, visit www.penderventures.com.

About Export Development Canada

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies make an impact at home and abroad. EDC has the financial products and knowledge Canadian businesses need to enter new markets with confidence, reduce financial risk and grow their business as they move from local to global. Together, EDC and Canadian businesses are building a more prosperous, stronger and more sustainable economy for all Canadians.

For more information and to find out how we can help your business, call us at 1-800-229-0575 or visit www.edc.ca.

® Evidence Partners is a registered trademark of Evidence Partners, Inc.
™ DistillerSR is a trademark of Evidence Partners, Inc.

SOURCE Evidence Partners

For further information: Evidence Partners Media Contact, Chris Wright, 613-315-7989, [email protected]

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