INSUBCONTINENT EXCLUSIVE:
TraceLink,a nine-year-old, software-as-a-service platform for tracking pharmaceuticals and trying to weed out counterfeit prescription drugs
in the process, has raised $93 million in Series D funding
Most of the money — $60 million — was used to buy primary shares, with another $33 million used to buy up the shares of previous
shareholders.Georgian Partners led the round, with participation from Vulcan Capital and Willett Advisors, along with all of the company
These include Goldman Sachs, whose growth equity arm had led the company&s$51.5 million Series C roundlast year, as well as FirstMark
Capital, Volition Capital and F-Prime Capital.As TC had reported at the time of that last round, TraceLink helps pharma companies comply
with country-specific track-and-trace requirements through their supply chain, which has grown increasingly important following the passage
of theDrug Supply Chain Security Actin 2013
The consumer-protection measure aims toprevent individuals& exposure to drugs that could be counterfeit, stolen, contaminated or otherwise
harmful.At the time of its enactment, it also gave the industry one decade beforeunit-level traceabilitybecomes enforced, meaning the clock
is ticking.Like Uber, WeWork and a small-but-growing number of private companies, TraceLink also appears to be preparing for life as a
publicly traded outfit by releasing some of its financial metrics, including, in TraceLink case, quarterly revenue and customer growth
numbers.Just last week, the company published its &financial growth highlights,& which include a 62 percent year-over-year increase in its
second quarter revenue; a42 percent year-over-year increase in all bookings over the same period; and two-year revenue compound annual
growth rate of 71 percent.In June, we reported on TraceLink initial $60 million of funding after spying an SEC form relating to its
The company, based in North Reading, Ma., has now raised $167 million altogether.
