The Birmingham Business Alliance (BBA) proudly announces Birmingham-based Acclinate, a trailblazer in mobilizing diverse communities for enhanced health equity, has raised $7 million in Series A funding. Led by Cencora Ventures, with notable contributions from Labcorp and Latimer Ventures, the funding will enable Acclinate to scale its impact in the clinical trial diversity and health equity landscapes.
"This investment marks a significant milestone for Acclinate and underscores our commitment to revolutionizing health equity and clinical trial diversity at a larger scale," expressed Del Smith, CEO and Co-Founder of Acclinate. "With the backing of prominent healthcare organizations like Cencora and Labcorp, we are poised to accelerate tangible change in the healthcare industry and empower diverse communities to proactively manage their health."
Acclinate is focused on driving diversity in clinical trials with a unique community engagement platform trusted by top pharmaceutical clients to help make existing trials more inclusive and plan more diverse studies moving forward. Cencora Ventures, formerly known as AB Health Ventures, is the corporate venture fund originally started by AmerisourceBergen prior to becoming Cencora, a leader in global healthcare solutions. The fund both invests and provides commercial support to emerging healthcare startup companies and brings unparalleled expertise and resources to this strategic partnership. This funding will help fuel Acclinate’s expansion and enhance its already powerful Enhanced Diversity in Clinical Trials (e-DICT) platform. As Acclinate continues to pioneer initiatives aimed at inclusivity and equity in healthcare, this infusion of capital propels its mission forward, bringing us one step closer to a future where healthcare is truly accessible to all.
The BBA’s Growth team was supportive of Acclinate’s search for a headquarters from the onset in 2020 and assisted them with such.
"The Birmingham Business Alliance (BBA), and specifically Victor Brown, were instrumental in our decision to make Birmingham our headquarters three and a half years ago,” said Smith. “We were initially exploring other cities, but the BBA presented a strong case for Birmingham's growing health tech scene and support for minority-owned businesses. We're thrilled with our decision – Acclinate has thrived here, and we're proud to be part of this dynamic ecosystem."
As with Acclinate, BBA’s economic developers provide confidential, customized services for companies looking to expand or locate in the Birmingham region, including services such as real estate search, workforce availability and market research, tax analysis, relocation assistance, tax incentives, connection to partners and resources, as well as navigating regulatory processes, among others.
“Our team at the Birmingham Business Alliance sincerely congratulates Acclinate on the closing of its $7 million funding round,” said BBA CEO Steve Ammons. “The BBA has been actively involved with companies at all phases of Acclinate's life cycle, in every business sector. From a founder with an idea, to technology, we support and have a tremendous appetite for businesses like Acclinate that want to scale. We keep our eyes and ears open to identify founders like Dr. Del Smith and Co-Founder Tiffany Whitlow.”
The BBA works to increase job growth and capital investment within the seven-county region, attracting and retaining top talent from around the world. The BBA leverages Birmingham’s greatest assets, including innovation engines Southern Research, the University of Alabama at Birmingham (UAB) and Innovation Depot, to create a destination for entrepreneurs and companies looking to grow their business in a welcoming environment.
Since its founding in 2009, BBA has successfully convened thousands of community and business leaders, backing 700+ projects that have not only created over 33,000 new jobs but also spurred $8.5 billion in new capital investments, all while passionately advocating for the growth and prosperity of all businesses within the Greater Birmingham Region.
Acclinate relocated its corporate headquarters from Huntsville to Birmingham in 2020 and is a tenant of The Denham Building, where it occupies a 3,000-square-foot space.
About Acclinate
Acclinate is a digital health company that leverages a unique combination of sustained community engagement and predictive analytics to improve health equity. Acclinate’s community platform helps pharmaceutical companies increase diversity in their clinical trials and other healthcare organizations support inclusivity in their initiatives. For more information on Acclinate, visit http://www.acclinate.com/.
About Cencora
Cencora is a leading global pharmaceutical solutions organization centered on improving the lives of people and animals around the world. We partner with pharmaceutical innovators across the value chain to facilitate and optimize market access to therapies. Care providers depend on us for the secure, reliable delivery of pharmaceuticals, healthcare products, and solutions. Our 46,000+ worldwide team members contribute to positive health outcomes through the power of our purpose: We are united in our responsibility to create healthier futures. Cencora is ranked #11 on the Fortune 500 and #24 on the Global Fortune 500 with more than $250 billion in annual revenue. Learn more at www.cencora.com.
About Birmingham Business Alliance
The Birmingham Business Alliance (BBA) is the first stop destination for businesses currently operating or considering an operation in Birmingham. BBA is the economic development agency for the Greater Birmingham Region and local chamber of commerce for the city of Birmingham. Our mission is to help businesses start, stay and succeed in the Greater Birmingham Region. To learn more, visit www.birminghambusinessalliance.com