Apprentice.io Raises $24M Series B Led by Insight Partners to Scale Intelligent Pharma Manufacturing System
JERSEY CITY, N.J., November 19, 2020 (Newswire.com) - Apprentice.io, an intelligent software company for life science manufacturing that is helping to increase the speed to market on a number of COVID-19 vaccines, announced today a $24M Series B round, led by Insight Partners. Pacific Western Bank, Pritzker Group Venture Capital, GFR Fund and The Venture Reality Fund also joined the round. This round brings Apprentice's total capital to over $40M.
Insight Partners previously invested in Apprentice during the early days of the COVID-19 pandemic to deploy the company's platform that would help manufacture the first COVID vaccines heading for clinical trials. As customers began to scale from clinical to commercial manufacturing, Apprentice began scaling as well. The company has since seen a 20x increase in usage and 11x growth in site deployments.
This additional capital will ensure that Apprentice can continue to assist customers as they ramp up production. The company expects customer expansions to dramatically increase over the next six months as more global life science organizations look to adopt Pharma 4.0 manufacturing solutions that lead to greater reliability and speed to market.
"We are helping customers meet this once in 100-year challenge," said Angelo Stracquatanio, CEO & Co-Founder of Apprentice.io. "By allowing them to better manage and analyze critical data, execute batches reliably, and connect remotely, manufacturing is safer and faster than ever before."
Unlike traditional pharmaceutical software systems, which are inflexible and cumbersome, the Apprentice System is a dynamic, end-to-end platform with a suite of intelligent software applications designed to streamline batch-based manufacturing and remote collaboration.
Solutions include intelligent batch execution, augmented procedures/workflows, predictive resource management, event tracking, remote collaboration, line clearance and immersive training. The platform grows more intuitive over time, using artificial intelligence, machine learning and augmented reality to help organizations improve yield and quality, reduce costly deviations, and increase speed to market.
"We support Apprentice's mission to help the life science industry at a time when humanity is relying on it the most," said Nikhil Sachdev, Managing Director at Insight Partners. "They have a trusted solution and a clear plan for shaping the future of pharma manufacturing. We couldn't be more excited to continue our investment and journey with the Apprentice team."
Apprentice pledges to help their life science customers not just survive the pandemic, but to establish a system that's built for the future. The New Jersey-founded company supports Fortune 100 clients in life sciences and other complex, compliance-driven verticals across the U.S., Asia, South America, and Europe. To learn more about Apprentice visit www.apprentice.io.
About Apprentice.io
Apprentice.io delivers the life science industry's only intelligent manufacturing execution system built to help teams scale faster - from COVID to cancer. From small and large molecule to cell and gene therapy, Apprentice's cloud-based system leverages artificial intelligence, augmented reality and Pharma 4.0 to increase an organization's speed to market. Run your entire batch campaign and leverage your data for continuous process improvement while taking your existing procedures and making them smart. Optimize your entire supply chain, performing predictive consumable and raw material management, smart equipment tracking and preventive maintenance scheduling. Elevate your teams' potential using language-independent, global collaboration tools in or out of the lab and suite to increase speed to resolution and decrease travel. Apprentice takes an end-to-end approach to manufacturing so you can scale faster with greater flexibility on a system that's ergonomic and intuitive, not outdated, cumbersome or complicated. From batch execution to global collaboration, Apprentice's end-to-end system helps manufacturing teams deliver lifesaving drugs to market faster, for the people who need them the most. For more information about Apprentice, visit www.apprentice.io or follow us on Twitter @apprentice_io
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
Media Contact:
Kristen Kucks
Email: kristen.kucks@apprentice.io
Source: Apprentice.io
