# Ledger Run

Ledger Run is an Asset Manager based in Tiburon, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Tiburon, United States
- **Region:** North America
- **Address:** Tiburon, CA, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** ledgerrun.com
- **LinkedIn:** https://www.linkedin.com/company/ledger-run

## Regulatory record

- **Reports private funds:** No

## About

Ledger Run is a healthcare technology company founded in 2018 in Belvedere Tiburon, California. It offers the ClinRun platform, which automates clinical trial agreement processes. ClinRun serves the clinical trial industry, connecting sponsors, CROs, and investigator sites.

## Sectors

- Enterprise Software
- FinTech

## People

- Jeff Bell — CEO
- Stephen Ryan — COO

## Questions

### Who runs investment decisions at Ledger Run?

Ledger Run is founder-led and has raised growth capital from Atlantic Street Capital, a Connecticut-based private equity firm, in 2020. Jeff Bell remains CEO and sets the strategic direction, with Stephen Ryan serving as COO.

### What specific problem does Ledger Run's software address?

The platform addresses the unautomated financial workflow between pharmaceutical study sponsors and clinical trial sites — specifically investigator grant calculation, site budget negotiation, payment scheduling, and regulatory-compliant disbursement. Most processes it replaces are manual spreadsheet-and-ACH workflows prone to error and delay. The software also handles country-specific tax and currency rules for multi-site global trials.

### Does Ledger Run manage patient payments or stipends directly?

Ledger Run focuses on institutional payments between sponsors and clinical trial sites, which include investigator fees and site overhead. The firm has not publicly announced a patient-facing stipend or direct-to-participant payment product.

### How is Ledger Run differentiated from Oracle's clinical trial management products?

Oracle's Clinical One and Siebel CTMS platforms offer broad clinical operations functionality, while Ledger Run focuses exclusively on the financial and payment administration layer. It is designed to integrate with existing CTMS rather than replace the full operational suite.

### Which types of biopharma companies use Ledger Run?

The firm targets mid-size and large pharmaceutical companies with active global clinical trial portfolios. Its configurability for multi-jurisdiction payment complexity makes it most relevant for sponsors running Phase II-III trials across multiple countries.

## Related profiles

- [Katapult Ocean](https://altss.com/profile/katapult-ocean)

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Last updated: 2026-06-03T20:00:00.000Z

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