Qualifyze secures $12 million to optimize pharmaceutical supply chain compliance

Qualifyze secures $12 million to make drug supply chains safer. Technology and data help improve testing. Investors support further development.

Frankfurt - Amid increasing regulatory pressure on pharmaceutical manufacturers to make their supply chains compliant, Qualifyze announces a $12 million funding round. The funding will be used to improve supply chain compliance in the pharmaceutical industry using technology and audit data.

Qualifyze is a cloud-based platform for audit data and applications. With a broad customer base of over 1,000 companies, Qualifyze has built a database of validated quality and compliance audit statistics within the pharmaceutical industry.

HV Capital commits

The $12 million investment round was made possible by existing investors such as HV Capital and Rheingau Founders, as well as new investors such as HarbourVest Partners and H14. The funds received will be used to drive international expansion and further product development. The latest $12 million investment round is a significant milestone for the company, which has a 100% year-over-year growth rate and is on track for annual revenue growth of more than $10 million.

Since its inception in 2019, Qualifyze has audited many suppliers and is moving beyond the traditional method of audit reports. By capturing audit data at scale and providing a digital audit management platform, Qualifyze has helped over 1,000 pharmaceutical manufacturers improve their supply chain compliance and reduce supplier qualification costs.

Recently, Qualifyze launched its "Supplier Intelligence" suite, which provides pharmaceutical companies with statistics on supplier compliance levels and audit results. This enables the prediction of trends and the development of strategies to mitigate compliance risk.

Our rapid expansion and continued success is a testament to the value we create for our customers. This funding will help us accelerate our mission to transform healthcare supply chain compliance in a sustainable and data-driven manner.

Dr. David Schneider, CEO & Founder of Qualifyze

Qualifyze already has about 80% of its customers outside of Germany and about 20% outside of Europe. This underpins the existing model for international operations. The additional capital will continue to be used for expansion in existing and in new geographic markets to become the preferred supply chain compliance data platform for the pharmaceutical industry.