How On Time Trials Is Using Finta To Raise

“Finta isn’t just a data room. It’s a fundraising CRM tool that helps you identify how much to raise and how to raise it, then motivates you to get it done.”

The clinical trials space involves some of the world’s most sophisticated corporations developing bleeding-edge technology that could make humans safer.

So it’s a deep irony that the process itself is extremely antiquated, as the continuum of drug developer, contract research organization, physician and patient is managed mostly through Excel files and institutional knowledge.

That’s where On-Time Trials comes in. Founded in 2021 by CEO Trevor Coughlan and COO Kishore Manoharan, the company’s digital platform is designed to speed up clinical trials by improving operational workflow and cost structure, utilizing purpose-built AI/ML algorithms.

When On-Time Trials was looking for software to manage its own need – their next funding round – it turned to Finta, a CRM tool that drives early-stage funding rounds toward completion. On-Time’s financial and business advisor, Kevin Futch, said many of the existing options targeting that market are simply data rooms, or “single bullet solutions for a single problem you may have.”

Finta, in the meantime, is a holistic solution for busy leaders on early startup teams. Those founders are often learning on the fly while making introductions, taking meetings, and ultimately tracking checks or wire transfers as they come through

You might say that game recognized game.

“Finta allows you to manage your interactions with prospective investors, track your marketing efforts and build a deal doc – all incredibly helpful tools that you typically don’t find in one place,” Futch said. “On top of that, the education center was extremely helpful for investors who aren’t used to early-stage investing, so that we had really clear messaging on the nature of the process.”

Futch, a fractional finance leader who works with several startups, said he’s begun introducing Finta to other companies who are raising early rounds of growth funding.

On-Time Trials has put about 90 people through its Finta investment funnel since the round launched in August, closing on a few hundred thousand so far. That will give  On-Time the runway it needs to execute against it's milestones. It will be an exciting era for On-Time Trials, which kicked off pilots in November. The customer, a medical device company, learned through On-Time that their CRO was overspending on headcount and underperforming on all of their deliverables. That’s the kind of clarity that could turn the company into a disruptive force with massive upside.

“We’re creating visibility to folks on the ground across multiple trials and multiple sites, giving stakeholders the ability to make data-based decisions,” Futch said. “This is a massive market opportunity that we’re just beginning to tackle.”

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