Troutman Pepper represented Blue Heron Capital in a $20 million Series B funding in Authenticx, the new standard in health care for listening to customer voices at scale. Blue Heron Capital was joined by Beringea, Indiana Next Level Fund/50 South Capital Advisors, High Alpha, Mutual Capital Partners, Signal Peak Ventures, Allos Ventures, Elevate Ventures, and M25. Read a company press release about the financing.

The investment comes after a significant year of growth for Authenticx, which saw a 2.5x increase in ARR in 2022 and 64 new employees since July 2021, many of whom joined product innovation and sales departments. Additionally, Authenticx’s customer base doubled over the last year, with its client portfolio now including five of the top 10 leading global pharmaceutical companies.

The Troutman Pepper team advising Blue Heron Capital included Dan Sieck, Michael McCann, and Thomas Walker.