Is Reify Health profitable in 2026?

No public revenue or profit figures exist since Reify Health is privately held. Its last confirmed valuation was over $4.8 billion from an April 2022 Series D round of $220 to $230 million co-led by Altimeter Capital and Coatue Management. No new priced funding round has been reported since.

Who owns Reify Health?

Reify Health is privately held and venture-backed, not owned by a single parent. Investors include Coatue Management, Altimeter Capital, Battery Ventures, ICONIQ Growth, Dragoneer, Adams Street Partners, and Sierra Ventures, following rounds through April 2022's Series D.

Could AI replace Reify Health's StudyTeam platform?

StudyTeam's core enrollment-tracking and forecasting workflow is exposed to AI commoditization. Rival Medidata (Dassault Systèmes) launched its own Acorn AI module in April 2019. Reify's StudyTeam for Sites Terms of Service only began referencing 'artificial intelligence functionality' as of April 1, 2026, with no named shipped feature confirmed yet.

Who is Reify Health's biggest competitor?

Medidata, a Dassault Systèmes subsidiary acquired for $5.8 billion in 2019, and publicly traded Veeva Systems (NYSE: VEEV) are Reify Health's main incumbent competitors in clinical-trial technology, both listed as direct rivals as of a July 2026 ZoomInfo profile.

Has Reify Health raised any new funding since its $4.8 billion valuation?

No new priced funding round has been publicly reported since the April 2022 Series D of $220 to $230 million that pushed valuation over $4.8 billion, according to a 2023-11-14 Forge Global IPO timeline report. Total funding raised across all rounds is estimated at roughly $477 to $490 million.

What is Reify Health's current valuation?

Reify Health was last valued at over $4.8 billion following an April 2022 Series D round of $220 to $230 million co-led by Altimeter Capital and Coatue Management, per pharmaphorum's April 21, 2022 report. No subsequent valuation update has been publicly confirmed.

United States · United States

Reify Health

Reify Health builds StudyTeam, software that speeds patient enrollment in clinical trials.

Losing its protection

Assessed 29 July 2026 · Evidence as of 29 July 2026

The structural protection is eroding.

On the recordSince 29 July 2026 · Checkable from 6-12 months · Every call on the record Checkpoint: Next funding round or disclosure after 4+ years of silence since the Series D

The call

Reify Health still sits deep inside major trial operations, but its valuation has not moved in years while Medidata's AI tools are already live in the same workflows.

Reify Health helps run medical studies faster by connecting drug companies and research sites with better scheduling and enrollment tools. The company has deep relationships with seven of the top ten drug makers and thousands of hospital sites, which is hard to break up overnight. However, larger companies like Medidata and Veeva have the resources and reach to copy Reify's main tools, and AI programs are starting to do enrollment forecasting automatically and more cheaply. The key thing to watch is whether Reify raises new money soon and whether it can build AI-powered predictions on its own trial data faster than its competitors can.

Why

AI pressure: Medidata Acorn AI (Dassault Systèmes). Acorn AI already offers AI enrollment forecasting inside Medidata's platform; Reify has no named AI feature to match it yet. Could AI do the core job? Only partly.

Bigger players: Veeva Systems. Veeva keeps expanding its eClinical suite toward the same sponsor and site workflows StudyTeam covers. Could a giant copy it? Probably.

What protects it. StudyTeam sits inside daily workflows at 7 of the top 10 biopharma sponsors and thousands of trial sites, which makes ripping it out mid-trial costly.

What would change this call

Reify announces a new priced funding round (Series E) within 12 months. Shows whether capital markets still back the $4.8B valuation.
Reify publicly ships a named, benchmarked AI enrollment-prediction feature. Shows whether Reify can match Medidata Acorn AI's AI capability.
A top-20 biopharma sponsor adopts Medidata or Veeva AI enrollment modules over StudyTeam. Would show incumbents converting Reify's sponsor base.

Key numbers

$4.8B valuation from April 2022 Series D (2022-04-21)
7 of top 10 global biopharma sponsors use StudyTeam (2021-08-10)
Sanofi trial saw 21% more patients enrolled per site (n.d.)

Named risks

No new priced funding round since April 2022, valuation stale over 4 years as of mid-2026. Severity: medium
Incumbents Medidata and Veeva can copy StudyTeam analytics with shipped AI already in market since 2019. Severity: high
2025 NIH grant terminations cutting active trial volume (383 trials, 74,000+ participants affected). Severity: medium
Conflicting public headcount estimates (roughly 50 to over 900) suggest reporting or structural ambiguity. Severity: low
Prior litigation exposure tied to trial operations (Gilman case, settled May 2023). Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Medidata (Dassault Systèmes)	contesting	Shipped Acorn AI enrollment module in April 2019, years before Reify's April 2026 ToS AI reference
Veeva Systems	contesting	Publicly traded (NYSE:VEEV) life-sciences cloud incumbent listed as direct Reify competitor as of 2026-07-22
AI-native decentralized trial startups	gaining on	Targeting enrollment-matching and forecasting workflows core to StudyTeam's value proposition

Questions people ask

Is Reify Health profitable in 2026?: No public revenue or profit figures exist since Reify Health is privately held. Its last confirmed valuation was over $4.8 billion from an April 2022 Series D round of $220 to $230 million co-led by Altimeter Capital and Coatue Management. No new priced funding round has been reported since.
Who owns Reify Health?: Reify Health is privately held and venture-backed, not owned by a single parent. Investors include Coatue Management, Altimeter Capital, Battery Ventures, ICONIQ Growth, Dragoneer, Adams Street Partners, and Sierra Ventures, following rounds through April 2022's Series D.
Could AI replace Reify Health's StudyTeam platform?: StudyTeam's core enrollment-tracking and forecasting workflow is exposed to AI commoditization. Rival Medidata (Dassault Systèmes) launched its own Acorn AI module in April 2019. Reify's StudyTeam for Sites Terms of Service only began referencing 'artificial intelligence functionality' as of April 1, 2026, with no named shipped feature confirmed yet.
Who is Reify Health's biggest competitor?: Medidata, a Dassault Systèmes subsidiary acquired for $5.8 billion in 2019, and publicly traded Veeva Systems (NYSE: VEEV) are Reify Health's main incumbent competitors in clinical-trial technology, both listed as direct rivals as of a July 2026 ZoomInfo profile.
Has Reify Health raised any new funding since its $4.8 billion valuation?: No new priced funding round has been publicly reported since the April 2022 Series D of $220 to $230 million that pushed valuation over $4.8 billion, according to a 2023-11-14 Forge Global IPO timeline report. Total funding raised across all rounds is estimated at roughly $477 to $490 million.
What is Reify Health's current valuation?: Reify Health was last valued at over $4.8 billion following an April 2022 Series D round of $220 to $230 million co-led by Altimeter Capital and Coatue Management, per pharmaphorum's April 21, 2022 report. No subsequent valuation update has been publicly confirmed.

Timeline

2026-03-31StudyTeam for Sites Terms of Service updated to reference AI functionality in Services
2025-11-18Report: 2025 NIH grant terminations hit 383 clinical trials, 74,000+ participants
2025-09-09Care Access publishes peer-reviewed decentralized trial model study in Frontiers in Medicine
2023-05-30Gilman v. Care Access Research and Reify Health lawsuit settled in Rhode Island
2022-04-21Series D closes: $220-230M co-led by Altimeter and Coatue, valuation over $4.8B
2021-08-10Series C closes: $220M led by Coatue Management, valuation $2.2B
2020-08-12Series B closes: $30M led by Battery Ventures
2012Company founded in Boston, originally named ZeroSum Health

Revision history

29 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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