Qualifyze, a supplier risk management company in the Life Sciences industry, announced $54 million in Series B funding from Insight Partners. Existing investors HV Capital, HarbourVest Partners, H14, and Cherry Ventures also participated.
With this new funding round, Qualifyze plans 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. Known for its global coverage of reliable and high-quality auditing services, Qualifyze provides an integrated audit management platform that streamlines compliance audits for Life Science companies. With a network of 250+ auditors and quality professionals worldwide, the company has ensured the highest quality compliance standards for over 1,200 companies to date by working alongside industry leaders like Merck, Moehs, DSM, Olon, Siegfried, Teva, CordenPharma, Cipla, Dr. Reddy’s Laboratories, Sun Pharmaceuticals, Sandoz and Mallinckrodt Pharmaceuticals.
Qualifyze’s platform offers a centralized system to manage every aspect of audits (GxP, ESG, ISO, etc.), including planning, execution, and CAPA follow-ups and closure. By utilizing one of the world’s largest databases 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. And this enhances overall operational transparency and regulatory adherence and significantly reduces the time and administrative burden typically associated with these processes.
Qualifyze drew on data from 3,000+ audits conducted in over 85 countries to launch its first analytics solutions in 2023. And this positioned the company as a key partner in strategic risk management, providing unique insights into global compliance trends and supply chain quality. These tools help drug manufacturers meet compliance standards, gain valuable insights into supplier performance, and manage risks, ultimately resulting in faster time-to-market, lower inventory levels, and reduced Costs of Goods Sold.
Qualifyze started issuing a proprietary Quality Compliance Rating (QCR) certificate to accelerate supplier qualification and selection this year. And the QCR functions like a scoring system, enabling drug manufacturers to quickly identify the most reliable partners while allowing those partners with superior compliance to stand out from their competitors.
Along with expanding operations, this new funding will accelerate Qualifyze’s mission to become the key partner for strategic supplier risk management in Life Sciences by collecting actionable audit data from every supplier in the world, centralized within one digital platform.
KEY QUOTES:
“We have come a long way from our roots as a third-party auditing organization. Expanding into the US market, forging strategic partnerships, and scaling our global operations are just the start. We’re doubling down on enhancing our platform to deliver even more powerful insights for Quality, Procurement, and Supply Chain teams. With this funding, we’re positioned to not only lead in supplier risk management but also set new industry standards, driving long-term value and innovation for our clients worldwide.”
– Dr. David Schneider, Founder and CEO of Qualifyze
“Qualifyze has established itself as a trusted partner for Life Sciences companies by transforming how supplier risk management is approached. We are excited to support David and the Qualifyze team as they expand into the US market and further develop their audit management platform, delivering insights that drive operational excellence and compliance in a complex industry.”
– Ryan Hinkle, Managing Director at Insight Partners. As part of the transaction, Hinkle will join Qualifyze’s board of directors
