TraceLink Raises $93M Series D
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.
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 the Drug Supply Chain Security Act in 2013. The consumer-protection measure aims to prevent individuals’ exposure to drugs that could be counterfeit, stolen, contaminated or otherwise harmful.Read the full article on TechCrunch