- Redica Systems — a cloud-based data intelligence platform serving FDA-regulated industries — announced it has raised a $30 million Series B round of funding. These are the details.
Redica Systems — a cloud-based data intelligence platform serving FDA-regulated industries — announced it has raised a $30 million Series B led by Savant Growth with participation from existing investor Rock Creek Capital. And Redica will use this round to extend its lead as a quality and regulatory intelligence (QRI) platform and fuel product innovation which will accelerate customer value and expand the company’s total addressable market.
Redica Systems’ unique platform enables quality and safety professionals in the pharmaceutical, medical device, and food industries to take a risk-based approach to decision making and regulatory compliance. And utilizing Redica’s proprietary data sourcing and machine learning (ML) models – combined with purpose-built visualizations – customers gain immediate access to actionable, high-quality data analytics and insights. Now 19 of the top 20 pharma companies and 9 of the top 10 medical device firms rely on Redica’s platform to improve their Quality Unit and regulatory compliance.
KEY QUOTES:
“Redica serves as a strategic partner to our customers, and as market dynamics continue to change, Redica is committed to delivering the capabilities that make it easy to keep up with the evolving regulations and enforcement. The investment led by Savant Growth will help accelerate our development efforts to meet the growing demands of the FDA-regulated industries we serve.”
— Michael de la Torre, Chief Executive Officer at Redica Systems
“The Redica Systems platform is a fundamentally different approach to industry compliance. Redica’s ability to generate and surface high-quality datasets and make organizational information possible is what sets the company apart. We are excited to help Redica continue its market momentum and growth.”
— Javier Rojas, founder, and managing partner at Savant Growth
