About Cytel
Cytel is a company based in Cambridge (United States) founded in 1987 by Cyrus Mehta and Nitin Patel was acquired by Nordic Capital in December 2020.. Cytel has raised $2 million across 8 funding rounds from investors including Merck, HHS and New Mountain Capital. Cytel has completed 5 acquisitions, including MTEK Sciences, Purple Squirrel and SDS Life Science. Cytel offers products and services including Trial Design Software, Axio Data Monitoring, and LiveSLR Software. Cytel operates in a competitive market with competitors including Charles River Laboratories, DNAnexus, LabCorp, Precision Medicine Group and Frontage Laboratories, among others.
- Headquarter Cambridge, United States
- Founders Cyrus Mehta, Nitin Patel
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Sectors
Healthcare
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Email
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Phone
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Website
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Social
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- Legal Name Cytel Statistical Software & Services Pr Ivate Limited
- Date of Incorporation 03 Apr, 2001
- Jurisdiction Pune, Maharashtra, India
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Annual Revenue
$17.87 M (USD)13.09as on Mar 31, 2023
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Net Profit
$2.87 M (USD)37.2as on Mar 31, 2023
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EBITDA
$3.19 M (USD)15.37as on Mar 31, 2023
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Total Equity Funding
$2 M (USD)
in 8 rounds
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Latest Funding Round
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Investors
Merck
& 5 more
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Employee Count
Employee Count
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Investments & Acquisitions
MTEK Sciences
& 4 more
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Acquired by
Nordic Capital
(Dec 21, 2020)
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Products & Services of Cytel
Cytel offers a comprehensive portfolio of products and services, including Trial Design Software, Axio Data Monitoring, and LiveSLR Software. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables simulation and optimization of clinical trial protocols.
Facilitates monitoring and analysis of clinical trial data.
Supports systematic literature reviews for research insights.
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Senior Team
82 people
Leadership Team
75 people
Principal Team
57 people
Data Analysis and Operations Team
35 people
Statistical Team
25 people
Software Development Team
16 people
Finance and Accounting
15 people
Product Management Team
8 people
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Funding Insights of Cytel
Cytel has successfully raised a total of $2M across 8 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Last Round
- First Round First Round
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2017 | Amount | Series A - Cytel | Valuation |
investors |
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| May, 2015 | Amount | Grant - Cytel | Valuation |
investors |
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| Jun, 2010 | Amount | Grant - Cytel | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Cytel
Cytel has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include Merck, HHS and New Mountain Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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New Mountain Capital manages investments in private equity, credit, and net lease strategies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Cytel
Cytel has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include MTEK Sciences, Purple Squirrel and SDS Life Science. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Provider of project management and quality assurance services for medical devices manufacturers
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2020 | ||||
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Software is developed for clinical study design and analysis.
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2017 | ||||
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Provider of market access services to biopharma sector
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Cytel
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cytel Comparisons
Competitors of Cytel
Cytel operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Charles River Laboratories, DNAnexus, LabCorp, Precision Medicine Group and Frontage Laboratories, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of drug discovery and preclinical development services
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| domain | founded_year | HQ Location |
Cloud-based genome informatics and data management are provided.
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| domain | founded_year | HQ Location |
Provider of laboratory tests for physicians
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| domain | founded_year | HQ Location |
Provider of clinical research, development, and commercialization services for life sciences
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| domain | founded_year | HQ Location |
Early drug development services are provided for pharma firms.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cytel
Frequently Asked Questions about Cytel
When was Cytel founded?
Cytel was founded in 1987 and raised its 1st funding round 7 years after it was founded.
Where is Cytel located?
Cytel is headquartered in Cambridge, United States. It is registered at Cambridge, Massachusetts, United States.
Who is the current CEO of Cytel?
Jovan Willford is the current CEO of Cytel.
Is Cytel a funded company?
Cytel is a funded company, having raised a total of $2M across 8 funding rounds to date. The company's 1st funding round was a Grant of $184.52K, raised on Apr 15, 1994.
What is the annual revenue of Cytel?
Annual revenue of Cytel is $17.87M as on Mar 31, 2023.
What does Cytel do?
Cytel was founded in 1987 and is headquartered in Cambridge, United States. Statistical solutions and data analytics are offered for the life sciences sector, focusing on clinical trial design, analysis, and real-world evidence generation. Software tools and services are supplied to support drug development processes, including regulatory submissions. Operations emphasize insights for pharmaceutical and biotech applications across global markets.
Who are the top competitors of Cytel?
Cytel's top competitors include DNAnexus, LabCorp and Charles River Laboratories.
What products or services does Cytel offer?
Cytel offers Trial Design Software, Axio Data Monitoring, and LiveSLR Software.
How many acquisitions has Cytel made?
Cytel has made 5 acquisitions, including MTEK Sciences, Purple Squirrel, and SDS Life Science.
Who are Cytel's investors?
Cytel has 6 investors. Key investors include Merck, HHS, New Mountain Capital, NIH SBIR/STTR, and Nordic Capital.
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