TraceLink will also use the funds to further reinforce its R&D and services organizations to support its rapidly growing customer base of more than 930 pharmaceutical manufacturers, contract manufacturing organizations (CMOs), wholesaler distributors, third party logistic providers (3PL), hospitals and pharmacies.
"As we continue to execute on our vision to build the digital supply chain, we are making strategic investments in machine learning, artificial intelligence and blockchain, ultimately delivering an open development platform for information sharing and predictive analytics," said Shabbir Dahod, president and chief executive officer, TraceLink. "Georgian Partners' deep expertise will significantly aid our efforts in bringing global information-sharing applications to market, driving the entire industry forward to solve critical business challenges through supply chain digitalization."
Tyson Baber, partner, Georgian Partners, said, "The pharmaceutical industry is at a digital tipping point and TraceLink is in the ideal position to drive major advancements in this transformation with its information-sharing network platform. We are very excited to partner with TraceLink on its next phase of growth and look forward to helping guide the company on its journey to shape the future of the digital drug supply network, leveraging our experience and clients' collective expertise in artificial intelligence and machine learning."