Insight Partners led Germany-based Qualifyze’s $54 million series B investment round.
Qualifyze, which operates in the pharmaceutical industry, received an investment of 54 million dollars. Insight Partners led the company’s $54 million series B investment round. Germany-based Qualifyze’s investment round included HV Capital, HarbourVest Partners, H14 and Cherry Ventures.
Qualifyze announced that it will use the new investment to grow in the US market, develop artificial intelligence and analytics technologies, and expand its product portfolio.
Founded in 2019 by David Schneider and Florian Hildebrand, Qualifyze modernizes quality assurance and supply chain management in the pharmaceutical industry. The company’s goal is to make supply chains in the pharmaceutical industry more transparent, efficient and harmonized, both reducing costs and improving quality.
Qualifyze uses a network and database to ensure quality in the supply chain of pharmaceutical companies. The company works with a large database of suppliers and buyers and uses analytics and artificial intelligence tools to monitor the performance of the supply chain. These tools are used to anticipate problems and manage risks in the supply chain. Qualifyze provides technology solutions to make the processes of pharmaceutical manufacturers and other supply chain participants more efficient and harmonized.
The company’s initial idea was to create a B2B marketplace to source components and other supply chain products needed for drug development. However, this model later evolved into its current model, which focuses on understanding whether suppliers meet quality and regulatory requirements.
