US pharmaceutical tracking company TraceLink has raised $93m to develop its software-as-a-service platform, which also identifies counterfeit prescription drugs. The series D round was led by Georgian Partners and involved Vulcan Capital, Willet Advisors and investors from earlier funding. In a blog post, the firm said it had been working with TraceLink, an online pharmacy that allows users to compare prices of drugs in their local area, for more than two years. TraceLink released limited financial results in a move analysts said appeared to be preparing it for an IPO. The firm said second quarter revenue was 62% up.
US pharmaceutical tracking company TraceLink has raised $93m to develop its software-as-a-service platform, which also identifies counterfeit prescription drugs. The series D round was led by Georgian Partners and involved Vulcan Capital, Willet Advisors and investors from earlier funding. The company helps pharmaceutical firms meet country-specific tracking rules which have become more important since the Drug Supply Chain Security Act in the US which said unit-level traceability would be introduced within a decade. TraceLink released limited financial results in a move analysts said appeared to be preparing it for an IPO. The firm said second quarter revenue was 62% up.