Redica Systems Announces $30M Series B Led by Savant Growth to Bring New Analytics and Compliance Platform to FDA-Regulated Life Sciences Companies
PLEASANTON, Calif., Dec. 17, 2021 /PRNewswire/ — Redica Systems, a cloud-based data intelligence platform serving FDA-regulated industries, announced it has secured a $30 million Series B led by Savant Growth, with participation from existing investor Rock Creek Capital. Redica will use this round to extend its lead as a quality and regulatory intelligence (QRI) platform and fuel product innovation which will accelerate customer value and expand the company’s total addressable market.
Redica Systems’ unique platform enables quality and safety professionals in the pharmaceutical, medical device, and food industries to take a proactive, risk-based approach to decision making and regulatory compliance. Utilizing Redica’s proprietary data sourcing and machine learning (ML) models, combined with purpose-built visualizations, customers gain immediate access to actionable, high-quality data analytics and insights. Currently, 19 of the top 20 pharma companies and 9 of the top 10 medical device firms rely on Redica’s platform to improve their Quality Unit and regulatory compliance.
“Redica serves as a strategic partner to our customers, and as market dynamics continue to change, Redica is committed to delivering the capabilities that make it easy to keep up with the evolving regulations and enforcement,” said Michael de la Torre, Chief Executive Officer at Redica Systems. “The investment led by Savant Growth will help accelerate our development efforts to meet the growing demands of the FDA-regulated industries we serve.”
“The Redica Systems platform is a fundamentally different approach to industry compliance,” said Javier Rojas, founder, and managing partner at Savant Growth. “Redica’s ability to generate and surface high-quality datasets and make organizational information possible is what sets the company apart. We are excited to help Redica continue its market momentum and growth.”
Existing Redica Systems investors include Rock Creek Capital.
About Redica Systems
Redica Systems is a data and software company that provides regulatory and quality intelligence to FDA-regulated industries. Today we serve almost 200 pharmaceutical and medical device firms, helping them stay ahead of global regulatory changes, access extensive enforcement and inspection intelligence, monitor supplier risk, and improve team collaboration. Our extensive data feeds, proprietary site and inspector profiles, push-button reports, and white-glove client service transform the way our users discover, decide, and act on regulatory intelligence. Redica’s headquarters are in Pleasanton, CA. More information is available at www.redica.com.
About Savant Growth
Savant Growth is a data-first growth equity firm that invests in bootstrapped, founder-led, high-growth B2B SaaS and tech-enabled services businesses. The firm combines 30 years of investment experience with a data-driven, entrepreneurial approach to bring together talent, companies, and capital for transformational outcomes in large, high-growth markets. Savant Growth brings unique operating leverage to portfolio companies with its proprietary natural-language processing and machine learning software and services for prospect identification (SaleSavant) and engineering resources to augment development initiatives (DevSavant).
Savant Growth currently has $578 million in assets under management across ten active portfolio companies: Conversica, CrossBorder Solutions, experience.com, FileCloud, Fulcrum, Impartner, IntelePeer, Mineral, Onfleet, and Redica Systems. Based in the San Francisco Bay Area, the firm collaborates with Kennet Partners to manage its Kennet V U.S. investment program and connect founders seeking to expand their global market leadership. For more information, please visit www.savantgrowth.com.
View original content:SOURCE Redica Systems
