Power, Founded in Canada, Secures $16.3 Million CAD Series A to Facilitate Patient Access to Clinical Trials

Power, the San Francisco-based startup, was founded by Brandon Li and Michael 'Bask' Gill, both Canadian entrepreneurs. The company recently announced securing $16.3 million CAD ($12 million USD) in Series A funding, marking a significant milestone in its journey to enhance its clinical trial discovery platform.

The funding round, led by Kin Ventures and Contrary, with participation from other notable investors such as 20Growth, 14W, Common Metal, Otherwise Fund, Air Angels, ARTIS Ventures, and Footwork, closed in late December 2023. This substantial investment reflects confidence in Power's mission to modernize the process of discovering and accessing clinical trials, particularly in the United States.

Power's inception in 2021 was fueled by the founders' personal experiences and challenges in finding suitable treatment options for their loved ones diagnosed with cancer. Michael Gill shared his poignant journey of searching for clinical trials for his father, who battled multiple myeloma. This emotional journey inspired Li and Gill to create a platform that would assist patients in navigating the complex landscape of clinical trials, providing them with access to relevant trials based on location and individualized considerations, such as genetic markers.

The platform developed by Power aims to streamline the process of clinical trial discovery and access, empowering patients to explore treatment options tailored to their specific needs and circumstances. Through innovative technology and personalized algorithms, Power seeks to bridge the gap between patients and clinical research, ultimately improving patient outcomes and advancing medical research.

With the recent funding injection, Power is poised to accelerate its growth and expand its reach, furthering its mission to democratize access to groundbreaking therapeutic options for patients worldwide. The company's commitment to addressing disparities in clinical trial participation, particularly among underserved populations, underscores its dedication to promoting health equity and driving positive societal impact.

Before co-founding Power, Brandon Li and Michael 'Bask' Gill gained valuable experience in the startup world. They both worked at Toronto-based startup Setter, which was acquired by Thumbtack in 2020. During their tenure at Setter, Li served as head of revenue and operations, while Gill held the position of head of growth. Prior to Setter, Gill also worked as the director of performance marketing at CareGuide and currently serves as an advisor at Ada, an AI-powered customer service platform. Additionally, Li has co-founded two Toronto-based companies: Bolt Logistics and Suits U, a non-profit organization that connected students with professional clothing.

Since emerging from stealth mode in August 2022 with $7 million USD in seed funding, Power has achieved significant milestones. The startup reports that over 600,000 patients have utilized its platform to discover clinical trials, with 90 percent of them being previously unconnected with existing research sites. Moreover, Power is dedicated to addressing disparities in clinical trial participation by prioritizing the connection of underserved populations. Notably, 40 percent of its users identify as non-white.

In a statement, Power underscored its commitment to making groundbreaking therapeutic options accessible to all patients, regardless of their geographical location, ethnicity, or socioeconomic background. The startup's mission is to level the playing field in clinical research and ensure that innovative treatments are available to everyone, thereby advancing healthcare equity.