#USA #Cambridge #Life Sciences #Ketryx #AI Compliance

Ketryx Secures $39M in Series B Funding

Ketryx, a pioneering platform specializing in AI-driven compliance solutions, has recently announced a significant financial boost through a $39 million Series B funding round. Led by Transformation Capital, this round also saw contributions from various reputable investors, including Lightspeed Venture Partners and MIT's E14 Fund. This successful funding round has now propelled Ketryx's total funding to over $55 million, underscoring the company's potential to influence the life sciences sector dramatically.

Founded with a clear mission, Ketryx addresses one of the most pressing challenges in the life sciences industry: the urgent need for swift product innovation without compromising regulatory compliance and safety. As companies race to integrate artificial intelligence into their workflows, Ketryx positions itself as a vital partner in navigating the complicated compliance landscape that accompanies this technological advancement.

Erez Kaminski, the CEO and founder of Ketryx, highlighted the necessity of accelerating AI adoption in healthcare, stating, "It's time to ensure AI is safe, reliable, and ready for regulated environments." Life sciences teams are currently grappling with the pressure of adhering to stringent compliance demands while striving to innovate rapidly. The pace of change is unprecedented, and Ketryx's solutions aim to streamline this process significantly.

Ketryx's innovative platform automates essential compliance functions and regulatory workflows to streamline the product development lifecycle. With automation covering crucial aspects like validation and documentation, teams utilizing Ketryx experience up to a 90% reduction in documentation time and report release cycles that are more than ten times faster than traditional methods. Such enhancements are crucial in an industry where the balance between innovation and safety is paramount.

Industry experts, including Bill Hawkins, the former CEO of Medtronic and a new investor in Ketryx, recognize the significance of such innovations. Hawkins expressed confidence in Ketryx’s ability to merge compliance and drive technological progress, reinforcing its essential role in the future of regulated software.

Ketryx has already forged strong partnerships and its solutions are integrated into operations at three of the five largest global medtech firms, along with several Fortune 500 companies. This wide-scale deployment indicates Ketryx’s emergence as a key player in providing the necessary AI-driven infrastructure for regulated industries.

Vinay Shah, a partner at Transformation Capital, echoed the sentiments surrounding Ketryx’s impact on patient outcomes through improved compliance technologies, suggesting that the platform proves that compliance can serve as a catalyst for innovation rather than a barrier. This vision resonates with the broader goal of enhancing safety and regulatory compliance through AI applications.

The backing by Transformation Capital not only reinforces Ketryx's financial position but also equips it with vital industry insights and networks necessary for scaling healthcare technology ventures. The company plans to utilize this funding to accelerate its global expansion, enhance its product offerings, and significantly increase its workforce in both Boston and Austria.

With real-time documentation and traceability now at the forefront of its platform, Ketryx provides teams with the agility to release products safely and efficiently—redefining product development timelines and compliance expectations in life sciences. Ketryx's mission to transform the product lifecycle and expedite the path to safer healthcare solutions continues to gain momentum, establishing it as a crucial player in the future of AI and healthcare compliance.

About Ketryx

Ketryx specializes in redefining the product lifecycle within the life sciences sector by delivering faster and safer products. Their AI-powered compliance platform integrates seamlessly with existing tools, enabling automation in documentation and regulatory processes. The efficiency promised by Ketryx's technology underscores its commitment to elevating both the quality and speed of product releases, ultimately benefiting patients across the globe. To learn more, visit www.ketryx.com.