TraceLink Inc. Acquires SupplyScape Corporation; Plans Growth in Pharmaceutical Traceability Business
TraceLink, Inc., a developer of supply chain traceability and business process collaboration solutions, today announced that it has acquired the assets of privately-held SupplyScape Corporation. The acquisition includes SupplyScape's E-Pedigree and Product Authentication product traceability solutions, in addition to the company's Nexus collaboration platform and related technologies. The new startup, created by SupplyScape's original founders and funded by FirstMark Capital, helps businesses ensure the authenticity and accountability of product movement and shared business processes across the global life sciences industry.
Woburn, MA (PRWEB) September 2, 2009 -- TraceLink, Inc., a developer of supply chain traceability and business process collaboration solutions, today announced that it has acquired the assets of privately-held SupplyScape Corporation. The acquisition includes SupplyScape's E-Pedigree and Product Authentication product traceability solutions, in addition to the company's Nexus collaboration platform and related technologies.
TraceLink was created by the original founders and leaders of SupplyScape to help companies address the business and financial challenges brought on by today's global pharmaceutical supply chain environment. The globalization of pharmaceutical operations, the increase in product line diversity driven by the reduction of blockbuster launches and the growth in generics development, and the increase in pharmaceutical manufacturing and distribution complexity due to expanded outsourcing through contract manufacturing (CMO) and packaging (CPO) combine to put pressure on companies to improve visibility and coordination across shared business processes. Given this environment, TraceLink's focus is to enhance supply chain traceability and business process collaboration to meet the global and broader 'track and trace' needs of the full pharmaceutical supply network.
FirstMark Capital invested in TraceLink to help the company improve support for current SupplyScape customers and products while accelerating the development of an expanded suite of traceability solutions across a variety of business processes. This investment marks the next phase of a long-standing relationship between FirstMark, its CEO and managing director Lawrence D. Lenihan, Jr. and founders of TraceLink. Over the past decade, Mr. Lenihan has invested in several companies previously led by the current TraceLink team.
"TraceLink's vision is to help companies gain real-time visibility into the authenticity and accountability of each step in the business processes executed by their supply chain partners and this acquisition is a key part of achieving this vision," said Shabbir Dahod, president and CEO of TraceLink and a venture partner at FirstMark Capital. "Almost 100 companies rely on SupplyScape's solutions to help them address product security and regulatory challenges they face because of a lack of visibility in the supply chain. We are dedicated to fully supporting these customers while leveraging SupplyScape's innovative technology to provide a strong foundation in pursuit of our larger pharmaceutical traceability vision."
"The TraceLink team is a recognized leader in creating innovative solutions to help life science companies gain insight into and control over their supply chain networks," added Lawrence D. Lenihan, Jr. "This kind of pioneering insight combined with a practical approach to delivering solutions providing immediate, tangible business results fits well with our investment philosophy. As the stakes rise to drive operational excellence on a global basis, TraceLink is well positioned to help these life sciences companies turn business challenge into real opportunity."
For additional information on the subject of this release, contact Brian Daleiden or visit www.tracelinkinc.com.
TraceLink enhances financial performance and operational agility in the global pharmaceutical supply chain through software applications that enable complete traceability of products and business processes on an easy-to-use web-based network platform. Using TraceLink solutions, pharmaceutical companies and their contract manufacturing, contract packaging and distribution channel partners in the global supply network gain real-time visibility into the authenticity and accountability of each step executed across shared business processes and enable true supply network collaboration. For more information, please visit www.tracelinkinc.com.
About FirstMark Capital:
Based in New York City, FirstMark Capital has established itself as a venture leader with a strong, national reach over its thirteen year history. FirstMark invests in companies that are creating new markets with innovative technology solutions or rethinking existing markets by applying a novel business model. With nearly $2 billion in capital commitments, FirstMark's team of investment and operations professionals have decades of real-world experience and leadership in core technology markets, making the firm uniquely qualified to offer industry insight, relationships and the operational expertise to build lasting businesses. Select historical investments include: Netgear, Inc. (NASDAQ: NTGR); First Advantage Corp. (NASDAQ: FADV); StubHub, Inc (Acquired by eBay, Inc.); Netegrity, Inc. (Acquired by CA Inc); Flarion, Inc. (Acquired by Qualcomm, Inc.); OutlookSoft Inc. (Acquired by SAP AG); Analex Corp. (Acquired by QinetiQ); Vallent (Acquired by IBM); Syndesis (Acquired by Subex) and Navic (Acquired by Microsoft). For more information, please visit www.firstmarkcap.com.