12/6/2023 0 Comments Cloud iconiq growth 3bThis architectural shift will cause their install base to face considerable change. 5000 and Deloitte Fast 500 as one of the fastest-growing companies in America.Įxisting providers of manufacturing technology were built with on-premise architecture and will soon begin migrating their software to the cloud. This financing caps off a stellar year for the company with 3.4x YoY Tempo revenue growth, 218% net customer retention, inclusion in Gartner's Manufacturing Execution System Magic Quadrant, and recognition on the Inc. We're thrilled to be partnering with the Apprentice team to extend their impact globally." "We firmly believe that Apprentice's cutting-edge solutions can accelerate the life sciences industry into the modern era and facilitate the transition to the therapeutics of the future. "Apprentice's growth is a testament to the critical role of advanced technologies in expediting the delivery of life-saving therapeutics to patients in need," said Caroline. As part of the investment, Caroline Xie, General Partner at ICONIQ Growth, will join as a Board Advisor. The funding follows a Series C round raised in January 2022, bringing Apprentice's total funding to $207 million. New Funding to Win the Pharma Manufacturing Technology Market "With CMN, our new funding, and our partnership with ICONIQ Growth, we have the product, services, and expertise to help customers thrive in a more complicated operating environment and make the cutting-edge medicine today's patients need." "Technology has finally advanced enough to meet the unique regulatory and quality requirements of the pharma industry," said Angelo Stracquatanio, CEO & Co-founder of Apprentice. Collaborate better with external partners with shared digital access to production runs and workflows for batch review and signoff.Expedite new product introduction by digitally conducting technical transfer.Accelerate the drug product pipeline with centralized recipe management and optimization.Manage production across multiple internal and external manufacturing sites with real-time visibility.Using CMN, companies can now connect all sites together to view, manage, and accelerate the end-to-end drug production lifecycle. Tempo improves operations at the site level by coordinating the materials, equipment, recipes, and personnel needed to plan, execute, test, and release a batch from one shared system. As a result, pharma manufacturing is more decentralized than ever. Existing infrastructure built for traditional modalities is rapidly becoming capacity and capability constrained. Innovation in drug modalities like biologics and cell and gene therapies offer incredible new treatments but are meaningfully more complex and costly to produce. The Connected Manufacturing Network (CMN) is the newest addition to the company's product suite, the Tempo Manufacturing Cloud, and the first of its kind in-market. The leading cloud-native platform for pharma manufacturing execution also announced a $65 million investment led by new investor ICONIQ Growth, with meaningful participation from existing investors, Alkeon Capital Management and Insight Partners.Īnnouncing the Connected Manufacturing Network Apprentice.io, provider of one platform for life science manufacturers to turn molecules into medicine, today announced a new addition to the Tempo Manufacturing Cloud, the Connected Manufacturing Network.
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