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"GoBalto, a startup offering cloud-based tools to help the\u00A0pharmaceutical, biotechnology, and medical device industries run clinical trials, has announced that it has raised $12 million led by EDBI (the Singapore's Economic Development Board's global investment arm)\u00A0and with participation from Qualcomm Ventures in a Series B round.\r\n\r\nExisting investors\u00A0Aberdare Ventures, West Health Investment Fund, and founding CEO\u00A0Jae Chung also took part in the round, which brings GoBalto's total funding to $21 million.\r\n\r\nAccording to today's announcement, the new funds will be used to expand the features offered by GoBalto &amp;quot;to\u00A0help support the demands of the growing clinical research market.&amp;quot; Additionally, EDBI intends to help expand GoBalto's international footprint \u2013 unsurprisingly prioritising Singapore.\r\n\r\nSan Francisco-based GoBalto was founded in 2008 and launched its Tracker product in 2011 as the first software-as-a-service\u00A0clinical research tool to enable clinical trial sponsors to collaborate with multiple partners on the Web in a way that is both transparent and compliant with relevant regulations.\r\n\r\nImage credit: Jeffrey Hamilton / Thinkstock"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/insider/2012/12/27/gobalto-12m-round/>