Qualifyze, a Frankfurt, Germany-based company which specializes in supply chain risk management in the Life Sciences industry, raised $54M in Series B funding.
The round was led by Insight Partners, with participation from existing investors HV Capital, HarbourVest Partners, H14 and Cherry Ventures.
The company intends to use the funds to expand its operations into the US market, continue investing in its go-to-market strategy, and enhance its technology to improve supplier risk management globally.
Founded in 2019, Qualifyze specializes in supply chain risk management in the Life Sciences industry. Its suite of digital solutions connects manufacturers, suppliers, and a global network of more than 250 auditors and quality experts for a more streamlined collaboration. The platform provides a centralized system to manage every aspect of audits (GxP, ESG, ISO, etc.), including planning, execution, and CAPA follow-ups and closure. By leveraging a large database of pre-existing audit reports and real-time supplier data, Qualifyze allows the quality, procurement, and supply chain functions to assess supplier performance and enable more accurate supplier risk profiling. This enhances overall operational transparency and regulatory adherence and significantly reduces the time and administrative burden typically associated with these processes. The solution is used by over 1,200 pharmaceutical and healthcare companies globally such as Merck, Moehs, DSM, Olon, Siegfried, Teva, CordenPharma, Cipla, Dr. Reddy’s Laboratories, Sun Pharmaceuticals, Sandoz and Mallinckrodt Pharmaceuticals, with a track record of over 3,000 audits across 85+ countries.
FinSMEs
10/09/2024