STAT and Boston Globe Media Partners help pave the way for Applied XL’s inaugural event detection and real-time alerting platform.
BOSTON— Today, STAT, the leading media company reporting on health, science, and medicine, announced its participation in the most recent fundraising round of Applied XL, a real-time information company tracking disruptions to the health of people, places, and the planet. The company has raised $3.5M in seed funding, led by Hearst Ventures with the participation of Boston Global Media Partners, New England’s largest news-gathering organization, and STAT, which are owned by the Henry Family. Funds will be used to expand the company’s ground-breaking event detection and real-time alerting platform, starting by serving pharma and biotech professionals.
“Over the past few years, STAT has developed an incredible relationship with Applied XL that has allowed us to personalize and revolutionize the way we share information. Today’s investment is a commitment to the future of health, science, and technology. We are thrilled to be supporting Applied XL’s newest undertaking,” said Rick Berke, co-founder and executive editor of STAT.
“Since the launch of STAT in 2015, Boston Globe Media Partners has already seen the impact of a specialized product targeting small but influential audiences and charging them for high-end news, information, and insights,” added Linda Pizzuti Henry, chief executive officer of Boston Globe Media Partners. “And now, we’re excited to build on this work by investing and partnering with Applied XL to continue developing its technology and provide industry leaders with the data-driven insights to inform critical business decisions that will allow them to grow and remain competitive.”
Earlier this year, STAT, in collaboration with Applied XL, launched STAT Trials Pulse, a first-of-its-kind artificial intelligence platform that monitors clinical trials. Users include professionals spanning pharmaceutical, health care, biotech, and financial services companies who use the data to inform regulatory strategy, clinical development, and investment decisions.
“Professionals in this sector are overwhelmed with an ever-growing amount of unstructured data, missing out on crucial information and slowing down their decision-making. We are developing event detection algorithms that replicate the rigorous research process of biotech journalists in order to surface important signals and deprioritize noise,” said Applied XL’s CEO and co-founder, Francesco Marconi. “We are deeply grateful to STAT and Boston Globe Media Partners for supporting our vision of building smart systems for eliminating information overload.” The latest round of funding brings Applied XL’s total funds raised to date to $5M in the last 12 months.
Applied XL was launched in 2020 through the Newlab Venture Studio by computational journalists who formerly led artificial intelligence efforts at the Wall Street Journal and Associated Press.
Founded in 2015, STAT is a national digital media brand that focuses on delivering fast, deep, and tough-minded journalism about the life sciences industries to over six million monthly site visitors and an additional 20 million readers on the Apple News app. STAT takes you inside academic labs, biotech boardrooms, and political backrooms, casting a critical eye on scientific discoveries, scrutinizing corporate strategies, and chronicling the roiling battles for talent, money, and market share. With an award-winning newsroom, STAT provides indispensable insights and exclusive stories on the technologies, personalities, power brokers, and political forces driving massive changes in the life sciences industry — and a revolution in human health.
About Boston Globe Media Partners, LLC:
Boston Globe Media Partners, LLC provides news and information, entertainment, opinion and analysis through its multimedia properties. BGMP includes STAT, The Boston Globe, Globe.com, Boston.com, and Globe Direct.
About Applied XL:
AppliedXL is a real-time company tracking disruptions to the health of people, places, and the planet, so decision makers can act faster and plan ahead. Applied XL develops event detection systems powered by machine learning and editorial algorithms to find early signals before they become news. Learn more at https://www.appliedxl.com/.
About Hearst Ventures:
Hearst Ventures is the global venture capital division of Hearst. Founded in 1995, the group has grown to become one of the most active and successful corporate venture funds with more than $1 billion invested to date.