Flywheel, a Minneapolis-based software startup that manages data for medical researchers, has closed on a $22 million Series C round of fundraising the firm announced Wednesday.
The round was led by San Francisco-based 8VC. Other investors include St. Cloud-based Great North Labs, St. Louis, Mo.-based iSelect and Stanford-based Spike Ventures.
The funding supported Flywheel's acquisition of St. Louis-based Radiologics, which was also announced Wednesday.
Flywheel said the deal with Radiologics, which provides software for imaging-based clinical trials, allows it to offer more research and clinical applications to accelerate scientific discovery.
“We believe strongly that the future of R&D in life sciences will be rooted in collaboration and cross-border work,” said Craig Herron, managing partner at iSelect. “Not only does Flywheel’s platform enable researchers to tap the full power of their data to drive deeper insights, but the integration of Radiologics is helping to build on the collaborative potential of scientific discovery and support new breakthroughs that will impact all of our lives."
Flywheel was co-founded by Dr. Brian Wandell, a Stanford University researcher who needed a tool to better manage and organize neural-imaging data, as well as Chief Technology Officer Gunnar Schaefer and Board Chair Troy Kopischke.
The company has offices in the Bay Area, St. Louis and Budapest.
