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Conshohocken’s Suvoda LLC, a SaaS provider of clinical trial software, has secured a $40 million minority equity investment from Philadelphia-based private equity firm LLR Partners. LLR’s investment is the first institutional capital invested in Suvoda and is set to be used to support the company’s continued growth and the expansion of its product offerings.

Suvoda offers an SaaS solution that helps pharmaceutical and biotechnology companies manage complex trial designs and helps optimize the supply chain across the clinical trial continuum, from small investigator-sponsored trials to large global Phase III studies. In just six years, Suvoda has grown organically from a six-person startup to a multi-national company with a staff of 386 in four offices in the U.S. and Europe serving customers and end-users in 62 countries.