THE BOSTON TIMES, December 11, 2018. PERTH, April 5, 2023 /PRNewswire/ -- Ketryx, a provider of the first and only connected application lifecycle management software specifically designed for the life sciences industry, today announced that it has raised $14 Million in Series A funding.. As a result of this round of funding led by Lightspeed Venture Partners, as well as participation from existing investors such as MIT's E14 Fund and Ubiquity Ventures, the total funding raised so far has reached over $18 million.. Guru Chahal, a partner of Lightspeed, will join the board of directors. With the new funds, the company will be able to accelerate the development of new products and expand its commercial operations
With the new funds, the company will be able to accelerate the development of new products and expand its commercial operations
A growing number of healthcare professionals are adopting software as a means of improving patient outcomes, including the use of Artificial Intelligence/Machine Learning (AI/ML) technology. As a result, companies are grappling with how to maintain quality assurance and regulatory compliance as more frequent software updates are required and software complexity grows.
It is our mission to improve the safety and reliability of medical software, reducing recalls, and improving patient outcomes through the use of our platform. "As software and artificial intelligence are rapidly permeating the healthcare industry, quality assurance is becoming increasingly complicated," said Ketryx founder and CEO Erez Kaminski. "Our partnership with Lightspeed is an exciting opportunity for us to expand access to our platform, meet the increasing market demand, and further our mission."
In addition to being inadequate, traditional manual approaches to software quality assurance are increasingly prone to human error, which can result in injury or death in some instances. It is possible to solve the problem by integrating automation and the enforcement of quality processes within the software development lifecycle and quality processes. As a result, teams follow best practices as well as are empowered proactively to identify and mitigate risks before they affect performance in a negative way.
Ketryx has assembled a team of experts in software development, regulation, and artificial intelligence/machine learning with this objective in mind. It includes professionals from the FDA, Wolfram Research, creator of the world's largest AI-knowledge engine; and quality leaders from Amgen, one of the world's leading biotechnology companies that is renowned for its high-quality practices.
The Ketryx team spent years designing its solutions around FDA regulations and quality standards when creating these solutions. Consequently, a purpose-built Connected Lifecycle Management platform has been created that automates and aligns many of the manual processes and tasks that medical software development and quality teams are faced with, including traceability.

Source prnewswire