Faro Health

Name

Faro Health

Legal name

Faro Health, Inc.

Website

https://farohealth.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Clinical Trial Design Software

NAICS

Software Publishers (5132), Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Electronic Data Capture (EDC) Platforms (HLACAOAA)

akta.pro secondary industry

Site Data Management Support (EDC/Source/SDV Readiness) (HLAGACAL)

Keywords

• Clinical trial design
• Protocol optimization
• AI clinical development
• Biopharma software
• Clinical study automation

Headquarters

HQ city

La Jolla

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. SaaS Platform Subscription: Cloud-based software platform provided as a subscription service to biopharma and medical device companies. Customers access Study Designer, Document Authoring, and Workflow Automation modules on a per-seat or enterprise license basis.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Faro Health provides an AI-powered software platform for clinical development that converts static clinical trial protocols into structured, intelligent digital systems. The platform consists of Study Designer for protocol optimization, Document Authoring for AI-assisted protocol drafting in Microsoft Word, and Workflow Automation for downstream EDC builds, site budgets, and integrations. It is sold to biopharma and medical device companies to reduce trial costs, timelines, and patient burden.

Product overview

Faro Health offers a unified AI platform for clinical development consisting of three integrated modules: Study Designer (core product for intelligent protocol design and optimization), Document Authoring (module for AI-assisted protocol drafting directly within Microsoft Word), and Workflow Automation (module for downstream process automation including EDC builds and site budgets). The platform transforms static clinical protocols into structured, intelligent digital definitions that enable true AI-driven transformation and seamless data flow across the clinical development lifecycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Study Designer

Quantifiable outcome

• Reduces protocol drafting time by up to 2 weeks for typical Phase III studies
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature6 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• Bristol Myers SquibbflagshipStrategic or Co-development PartnerMulti-year collaboration (announced April 2026) to enhance clinical trial design using AI technology. Bristol Myers Squibb adopted Faro's digital protocol platform to improve efficiency, standardize protocols, and streamline clinical operations in drug development.
• MerckflagshipStrategic or Co-development PartnerPartnership (early 2024) to leverage Faro's Study Designer to measure trial complexity across six therapeutic areas. Identified over $130 million in potential cost reductions and over 160,000 patient-hours that could be saved, ultimately adopting changes that saved over $65 million and over 72,000 hours.
• RecursioncoreStrategic or Co-development PartnerPartnership (January 2025) to advance AI-powered clinical trial design. Collaboration focused on optimizing clinical protocol design using Faro's platform capabilities.
• Veeva SystemscoreTechnology or IntegrationIntegration partnership enabling one-click push from Faro Study Designer to Veeva EDC. Connects Faro's digital study definitions directly to Veeva EDC eCRF standards libraries for accelerated EDC builds.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Veeva Systems: Veeva provides a broad clinical suite (CTMS, EDC, eTMF, RIM) used by the same biopharma customers Faro targets. Faro's native Veeva EDC integration underscores Veeva as both a channel partner and the most direct competitive threat via potential AI-protocol bundling.
• Medidata Solutions (Dassault Systèmes): Medidata offers the Rave platform spanning EDC, CTMS, RTSM, and patient cloud, serving most large pharma sponsors. It is the dominant incumbent in clinical trial technology and the most credible competitor to add AI-driven protocol design at scale.
• IQVIA: IQVIA combines clinical research services with technology (e.g., EDC, analytics, AI for trial design) and serves most large pharma sponsors. Its size, data assets, and services-plus-software model make it a broad incumbent against which Faro must position.
• Oracle Health Sciences: Oracle's Clinical One and broader Health Sciences portfolio (acquired from Cerner/Phase Forward) compete across EDC, RTSM, and clinical trial management. It is a large, entrenched vendor with deep relationships at top pharma sponsors.

Direct peers

• ArisGlobal: ArisGlobal's LifeSphere platform covers clinical, regulatory, and safety workflows for life sciences, including AI-augmented study and document management. It is a direct peer in digitized clinical/regulatory operations for mid-to-large biopharma.
• Trial Library: Trial Library is a venture-backed AI platform focused on protocol design intelligence and feasibility for clinical trials. It overlaps most directly with Faro's Study Designer in applying data and AI to protocol optimization for sponsors.
• Signant Health: Signant provides eCOA, ePRO, and clinical technology solutions to biopharma, including protocol and patient-experience tools. It targets the same sponsor clinical-operations buyers as Faro and competes for adjacent workflow budgets.

Emerging players

• Saama Technologies: Saama applies AI to clinical development workflows, including study design, data management, and analytics for life sciences sponsors. It is an emerging AI-native peer competing for similar AI-in-clinical-trials budgets.
• Mendel: Mendel offers an AI platform for structuring clinical and biomedical data, with applications spanning clinical trial design and real-world data. It is an emerging peer intersecting Faro's protocol and biomedical-concept data layer.
• Deep 6 AI: Deep 6 AI focuses on AI-driven clinical trial feasibility and patient matching for sponsors and CROs. It targets similar AI-in-clinical-development use cases at the protocol and feasibility stage, overlapping with Faro's customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Faro Health