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Jstreetdata.com Closes $2.1 Million In Funding; Investment Reaffirms Value Of Online Medical Market Research To Healthcare Industry
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Jstreetdata.com Closes $2.1 Million In Funding; Investment Reaffirms Value Of Online Medical Market Research To Healthcare Industry
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WASHINGTON, DC -- (INTERNET WIRE) -- 01/02/2001 -- Jstreetdata.com Inc., an innovator of dynamic Web-based medical market research, today announced it has closed $2.1 million in Series A financing. The announcement, which comes in a challenging capital market, validates Jstreetdata.com's market strategy and solid business model. Investors include GreenSpring Ventures, ACI Korea, and Thorner Ventures.
"The new year promises to bring continuing challenges in the highly-scrutinized e-health space, but Jstreetdata.com distinguishes itself by delivering a highly sought-after service in the lucrative medical market research industry," said Jeremy Brody, Chief Executive Officer of Jstreetdata.com. "We've proven the long-term viability of our business model by adhering to our business plan and building a Web-based service that makes medical market research far faster and cheaper than it has ever been," said Brody.
Jstreetdata.com has demonstrated the value of its rapid research technology by conducting numerous online medical market research studies for some the world's most recognized pharmaceutical, medical device and biotechnology companies. Jstreetdata.com has also signed up more than 5,500 physicians and managed care payers to participate in medical market research on an as-needed basis, another factor that has made Jstreetdata.com especially attractive to medical market researchers.
"We've seen many e-business concepts surface in the life sciences space, but with strong and growing revenues, Jstreetdata.com has created a first mover advantage in the space," said Bruce Springer, Managing Partner of GreenSpring Ventures and former EVP and founder of WebMD. "Jstreetdata.com has certainly emerged as a dominant player in the online medical market research arena and is well-positioned for strong revenue growth," said Springer.
Jstreetdata.com will use its first round of venture capital funding to hire additional technology, sales and customer support staff. The funds will also be used to advance the features and functionality of Jstreetdata.com's proprietary survey technology and to increase the number of physicians and other medical decision makers willing to take part in medical market research through Jstreetdata.com.
In addition to securing additional funding, Jstreetdata.com added two members to its board of directors. They are Mir Imran, founder of medical device and Internet incubator In-Cube; and Sharon Lake, In-Cube's Vice President of Business Development. Imran is also the founder of Percusurge Inc., which was recently acquired by Medtronic Inc. (NYSE: MDT); and is the founder of Physiometrix Inc. (Nasdaq: PHYX) and Cardiac Pathways Corp. (Nasdaq: CPWY).
"The ability of Jstreetdata.com to quickly assess the opinions of hard-to-reach medical decision makers is invaluable to pharmaceutical, biotech and medical device companies," said In-Cube's Imran. "Jstreetdata.com's value has already been recognized within the life sciences industry, and I'm pleased to be joining the board as the company sees its growth potential reaffirmed by Series A funding," said Imran.
Jstreetdata.com's unique Web-based technology eliminates many time-consuming steps inherent in traditional market research. Using self-serve tools, market researchers can construct highly complex surveys as simply as writing an e-mail. As soon as a market researcher posts a survey, appropriate medical specialists automatically are invited to participate via e-mail and then survey responses are gathered and calculated in real-time. This rapid turnaround time enables life sciences companies to obtain the data they need to shape the development of pharmaceuticals, redesign medical devices, or change marketing strategies almost instantaneously.
Jstreetdata.com also saves researchers time and money by giving them immediate access to a panel of physicians and other industry experts willing to participate in medical market research. Panelists complete the surveys online, at their convenience, and get compensated each time they participate.
About GreenSpring Ventures
Established in July 2000, GreenSpring Ventures LLC (www.greenspring.net) is an early stage venture fund based in Atlanta, Ga. GreenSpring Ventures LLC was formed to assist early stage companies and entrepreneurs in building their businesses and rapidly moving them through the growth stages in their development life cycle. Focusing predominantly in the areas of Internet infrastructure, wireless infrastructure, services and technologies, Web-enabling technologies, and next generation platforms and software, GreenSpring Ventures LLC has invested in numerous early stage companies.
About Jstreetdata.com
Jstreetdata.com, an innovator in dynamic online medical market research, provides researchers self-serve tools to create and conduct live online medical studies. This unique technology, along with the company's panels of pre-screened medical professionals, enables life sciences companies to make real-time, data-driven decisions. For more information, visit www.jstreetdata.com or contact Keenan Howell or Jeff Heebner at 202-789-0004.
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Contact: Keenan Howell
Phone: 202-789-0004
Email: keenan@techcorpcom.com
Contact: Jeff Heebner
Phone: 202-789-0004
Email: jeffh@techcorpcom.com
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Source:
Internet Wire
www.internetwire.com
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