Condor Software Secures $24 Million Series A to Scale AI-Driven R&D Finance Platform for Biopharma

New updates have been reported about Condor Software.

Condor Software has raised $24 million in Series A funding, led by Insight Partners with support from Felicis, 645 Ventures, Pamir Ventures, SNR Ventures, Prebys Ventures, and Bramalea Partners, bringing total capital raised to $36 million. The company will use the funds to expand its AI-powered Financial Intelligence Platform for life sciences, deepen enterprise capabilities for large pharmaceutical clients, and grow its engineering, product, sales, and customer success teams.

Positioned as a financial infrastructure layer for drug development, Condor’s platform consolidates clinical, operational, and financial data to give biopharma leaders real-time visibility into trial spend, budget performance, asset value, and funding decisions. Built on proprietary clinical and financial ontologies co-developed with Big 4 accounting firms, the platform’s Connect, Compass, and Copilot modules integrate disparate systems, forecast costs and risks, and automate accruals, reconciliations, and month-end close, currently overseeing more than $19 billion in R&D spend and delivering customers up to 90% forecast accuracy, 70% faster close, and roughly 30% budget savings.

Founded by CEO Jennifer Kyle, who previously designed clinical trial accounting workflows widely used in pharma, Condor is directly targeting the industry’s reliance on spreadsheets in a $300 billion annual R&D spend environment. The new capital is expected to accelerate global scaling and support category creation in AI-enabled clinical trial finance, as the company builds on adoption by emerging biotechs and larger biopharma organizations such as Acadia Pharmaceuticals, Alumis Therapeutics, BridgeBio Pharma, and Madrigal Pharmaceuticals.

Investors from Insight Partners describe Condor as the financial intelligence layer beneath clinical trial management, enabling AI-powered finance workflows at a critical decision point in drug development. With biopharma R&D budgets under increasing scrutiny, Condor’s ability to automate large-scale financial data handling and improve operating efficiency by 30%–40% for customers positions the firm as a potential strategic enabler of capital allocation, portfolio management, and time-to-market for life sciences companies.

Kyle framed the raise as validation of Condor’s mission to prevent viable therapies from being halted by outdated financial data, emphasizing plans to attract additional talent and scale the platform globally. As AI transforms discovery and development but financial operations lag behind, Condor’s Series A marks a step toward modernizing a historically manual, high-stakes workflow that influences which programs advance and how biopharma R&D dollars are deployed.

By embedding audit-grade workflows and aligning financial logic with trial protocols and vendor contracts, Condor aims to reduce reconciliation risk and strengthen compliance while unlocking detailed, near real-time portfolio intelligence for executives. For stakeholders, the funding signals increased competition and innovation in R&D finance tooling, and suggests that sophisticated financial visibility is becoming a strategic requirement rather than a back-office function in life sciences.

The company’s focus on integrating with existing CRO portals, ERP systems, and accounting tools may also lower switching costs and accelerate adoption for global pharma enterprises facing complex, multi-trial portfolios. With Insight Partners’ operational support and a leadership team drawn from Medidata, BenchSci, Oracle, Benchling, Salesforce Life Sciences, and EY, Condor is positioned to pursue larger enterprise contracts and potentially influence standard practices in clinical trial financial management.

If the company executes on its roadmap, Condor could become a core system of record for R&D finance, informing decisions on trial continuation, termination, or expansion based on timely economics rather than delayed, manual reporting. For executives managing multi-billion-dollar pipelines, the platform offers the prospect of more disciplined capital deployment, better risk-adjusted returns on R&D, and improved alignment between scientific opportunity and financial strategy.