Portfolio

Ostra: Clinical trial recruitment in weeks, not months

Acquired by Calder Health, 2025

Finding patients is the slowest part of most clinical trials. Ostra matches trial eligibility criteria against de-identified records from partner hospital networks, then works through each patient’s own physician to make the introduction. Sponsors using Ostra have filled oncology trials in an average of 11 weeks, against an industry norm of six months or more.

Rachel had run trial operations at a mid-sized biotech and lost count of the studies held up by slow enrolment, while Ben had built data systems for a large hospital group. We led the seed round in 2019, and Amira joined the board as the company grew its network to 90 health systems across the United States.

Calder Health acquired Ostra in 2025 to bring recruitment into its contract research business. Rachel now leads Calder’s patient access division, and the Boston team has more than doubled since the deal.

Founders

  • Rachel Okoro

    Co-founder and CEO

  • Ben Hartley

    Co-founder and CTO

Funding history

$71M raised across 3 rounds

  1. Seed · $4M

    Northwood invested

    Led by Northwood

  2. Series A · $19M

    Northwood invested

    Led by Harbourline Capital

  3. Series B · $48M

    Northwood invested

    Led by Sablepoint Capital

  4. Acquired by Calder Health

Ostra in the journal

Investor letters

Second-quarter letter, 2026

Our letter to the partners in our funds for the second quarter of 2026: two new Fund V investments, early results at Amperra and Kiln, and where Fund III stands after Ostra.

Grant Holloway and Sofia Ortega

Investor letters

Annual letter, 2025

Our annual letter to the partners in our funds: closing Fund V, the sale of Ostra, Tidewater's first year as a public company, and the first five Fund V investments.

Nadia Mensah and Theo Marchetti

A receptionist in grey scrubs using a tablet at a clinic front desk

News

Ostra joins Calder Health

Ostra, which helps hospitals find and enrol patients for clinical trials, has been acquired by Calder Health. A note on what the company built.

Amira Haddad