Qualifyze Raises $54M to Transform Supplier Risk Management with Audit Technology
Investment Overview:
- Amount Raised: $54 million
- Investment Round: Series B
- Company Name: Qualifyze
- Industry: Life Sciences
- Geography: Germany
Technologies Used:
- Analytics and Real-Time Data: Provides actionable insights based on supplier performance data from over 3,000 audits conducted worldwide.
- Quality Compliance Rating (QCR): A proprietary scoring system to help drug manufacturers identify reliable suppliers based on compliance standards.
ESG/Sustainability Issues Addressed:
- Supply Chain Transparency: Ensures responsible sourcing and supplier accountability, promoting more ethical and sustainable supply chains.
- Regulatory Compliance: Helps companies meet stringent safety and environmental regulations, reducing the risk of non-compliance in global supply chains.
Relevant SDGs:
- SDG 9 (Industry, Innovation, and Infrastructure): By offering advanced audit management and compliance solutions, Qualifyze fosters innovation and builds resilient infrastructure in the Life Sciences industry.
- SDG 12 (Responsible Consumption and Production): Enhanced supplier risk management reduces wastage and inefficiencies, promoting sustainable production patterns.
- SDG 3 (Good Health and Well-being): Ensures quality control in drug manufacturing, contributing to improved health outcomes by enhancing supply chain safety.
Investment Details:
The Life Sciences industry faces increasing pressure to ensure safe and compliant supply chains, especially as drug manufacturers must meet evolving regulatory requirements. A key challenge in the industry is managing supplier risks effectively. Many companies struggle to maintain visibility across complex, global supply chains, leading to inefficiencies and potential risks that can impact the safety of pharmaceutical products. Traditional auditing systems often fail to keep up with the fast-paced demands of the industry, resulting in delays and increased costs.
Qualifyze, a leading provider of supplier risk management solutions, addresses these challenges with its advanced integrated audit management platform. By offering a centralized digital platform that streamlines compliance audits (GxP, ESG, ISO), Qualifyze helps Life Sciences companies enhance their operational transparency and regulatory compliance. The platform allows companies to manage the entire audit process, from planning to follow-ups, significantly reducing administrative burdens while improving supplier risk profiling.
With over 3,000 audits conducted globally and a network of over 250 auditors, Qualifyze’s solution provides access to one of the largest databases of audit reports and real-time supplier performance data. These insights help drug manufacturers quickly assess the reliability of suppliers and make informed decisions, reducing time-to-market, lowering costs, and improving overall operational efficiency.
Qualifyze’s recent $54 million Series B funding, led by Insight Partners and supported by HV Capital, HarbourVest Partners, H14, and Cherry Ventures, will fuel its expansion into the US market and further enhance its audit management platform. The company is also introducing the Quality Compliance Rating (QCR), a proprietary scoring system designed to accelerate supplier qualification by providing a clear indication of compliance standards across supply chains.
Qualifyze’s innovative technology not only improves compliance in Life Sciences but also addresses important sustainability challenges, such as reducing inefficiencies in supply chains and promoting responsible production practices. By supporting drug manufacturers in managing supplier risks more effectively, the company contributes to building a safer, more sustainable Life Sciences industry.
Investors:
- Insight Partners (USA)
- HV Capital (Germany)
- HarbourVest Partners (USA)
- H14 (Italy)
- Cherry Ventures (Germany)
Source: PR Newswire
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