Industrifonden announces successful exit in Trialbee to Varsity Healthcare Partners

Industrifonden today announces a successful exit in Trialbee, following a strategic growth investment by Varsity Healthcare Partners. As part of the transaction, Industrifonden sells the majority of its shares to Varsity Healthcare Partners, while remaining a minority shareholder in the company.

Trialbee, a global leader in technology-driven patient recruitment for clinical trials, has secured a majority investment from Varsity Healthcare Partners to accelerate the continued scaling of its Honey Platform™ and global delivery capabilities. The investment enables Trialbee to further strengthen its position as a category leader in global patient recruitment, supporting biopharma sponsors across increasingly complex clinical development programs.

Industrifonden has been a long-term backer of Trialbee since its early days and has supported the company throughout its journey from inception to international scale.

“As long-term backers of Trialbee from inception, we are pleased to see the global scaling of the business and the strong position Trialbee has taken as a category leader in global patient recruitment. We are excited to welcome Varsity Healthcare Partners as a new partner to Trialbee to continue scaling the business”, said Patrik Sobocki, Senior Investment Director at Industrifonden.

Over the past year, Trialbee has significantly expanded its platform capabilities and global reach, surpassing 1.5 million patients screened in 2025 and supporting more than 6,000 research sites across 50 countries and 66 languages. The company’s Honey Platform™ centralizes and standardizes patient recruitment activities across channels, providing sponsors, CROs and sites with greater predictability, speed and transparency.

“Industrifonden wants to thank CEO Matt Walz and the entire Trialbee team for a fantastic journey and wish them the very best of luck on the continued journey”, added Sobocki.

Matt Walz, CEO of Trialbee, commented on the partnership with Industrifonden:

“I, and the entire Trialbee team, are grateful to Industrifonden as our first institutional and long-term backer. Their support has been instrumental in building Trialbee into the global platform it is today, and we look forward to continuing to scale the company in its next phase of growth.”

Varsity Healthcare Partners invests in healthcare services and technology companies that enable clinical operations at scale, with a focus on strengthening operating infrastructure and accelerating growth. Existing investor MTIP will also remain a minority shareholder following the transaction.