NORTH READING, Mass., Feb. 14, 2017 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting
the life sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced financial and company results for the fourth quarter of 2016.
Quarterly and annual growth highlights for 2016 include:
- A 209 percent increase in Q4 new sales bookings year-over-year;
- A 108 percent increase in new sales bookings for 2016 over 2015;
- A two-year revenue compound annual growth rate (CAGR) of 79 percent; and
- A 97 percent increase in customer growth year-over year with 261 new customers added by the end of Q4, for a total of 530 TraceLink customers as of December 31, 2016.
"Our primary goal in 2016 was to expand our business globally across each segment of the supply chain. The sales momentum we achieved worldwide in the fourth quarter and for the year, demonstrates how our leadership position is accelerating," said Shabbir Dahod, president and CEO, TraceLink. "Through our market leadership, innovative digital supply chain network, and outstanding customer service, we will continue to partner with our customers and the industry to address their challenges in achieving regulatory compliance for all of the global markets they serve."
Additional growth highlights for 2016 include:
- Demonstrating the largest customer base and track and trace network in the industry – hitting a milestone of 530 customers and 247,000 trading partners on the TraceLink Life Sciences Cloud. TraceLink customers span the entire life sciences supply chain, including:
- 31 percent representing pharmaceutical and contract manufacturers;
- 9 percent representing wholesale distributors; and
- 60 percent representing dispensers.
- Serving serialization customers across multiple global regions – including the following:
- 77 percent in the United States;
- 20 percent in Europe, the Middle East and Africa (EMEA);
- 3 percent in the rest of the world.
- Surpassing 2,000 individual members participating in the TraceLink Cloud Community – a unique industry forum providing members with the opportunity to interact with their global the pharmaceutical supply chain peers including:
- More than 850 individuals from over 115 pharmaceutical companies;
- More than 150 individuals from over 30 contract manufacturing organizations (CMOs);
- More than 140 individuals from over 40 wholesale distributors; and,
- More than 840 individuals from over 300 pharmacies and hospitals.
- Executing unprecedented serial number volumes –commissioning more than 150 million serial numbers in 2016, a 109 percent increase from the number of serial numbers commissioned in 2015.
- Releasing the industry's first Global Drug Supply, Safety & Traceability Report – including insights from 331 survey respondents across all segments of the supply chain on the challenges with US lot-level implementation and global serialization readiness.
- Demonstrating a proven and EMVO-tested solution for EU FMD Compliance – processing compliance reports for more than 240,000 units of product into the EU Hub for its customers that are live on the network and meeting EU FMD compliance regulations, more than two years ahead of the region's regulatory deadline.
- Delivering country compliance modules for South Korea and India – enabling TraceLink customers to comply with complex South Korea compliance and data management regulations and a range of serialization, reporting and compliance requirements established by the India Directorate General of Foreign Trade (DGFT).
- Contributing to recently published GS1 US guideline – with Elizabeth Waldorf, Director, Global Traceability and Standards at TraceLink, serving as the technical co-author on the guideline "Applying GS1 Standards for DSCSA and Traceability (R1.2)."
- Joining the Open Serialization Communication Standard (Open-SCS) Working Group – participating on a steering committee of healthcare providers to directly address the industry's product serialization regulations over the next decade.
- Securing $51.5 million in Series C funding led by led by Goldman Sachs – enabling the company to further its commitment to serving the global track and trace market and advancing its innovative Life Sciences Cloud platform.
About TraceLinkTraceLink is the World's Largest Track and Trace Network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses, including 16 of the top-20 global pharmaceutical companies, trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. A winner of numerous industry awards including Deloitte's Technology Fast 500 (ranked number 293 in 2015), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedIn, Twitter and Facebook.
TraceLink is funded by FirstMark Capital, Volition Capital, F-Prime Capital, and Goldman Sachs.
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