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Apprentice.io Raises $24M Series B to Scale Intelligent Software Platform

Format: article

Topics: company news

PRESS RELEASE  

JERSEY CITY, N.J.Nov. 19, 2020 /PRNewswire/ — 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 executionaugmented procedures/workflowspredictive resource management, event tracking, remote collaboration 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., AsiaSouth America, and Europe. To learn more about Apprentice, visit www.apprentice.io.