Compliance solution provider LighthouseAI has announced a significant $2.25 million seed round investment, led by Healthy Ventures with participation from Bertelsmann Next.
This funding, part of an ongoing $3.25 million seed round, will fuel the growth and development of the flagship LighthouseAI product suite to serve the pharmaceutical industry. LighthouseAI is a first-mover, category-defining product suite engineered to automate pharmaceutical supply chain compliance for professionals who are responsible for compliance with federal and state regulations.
Regulation of the pharmaceutical supply chain has expanded extensively over the past decades as fallout from counterfeit schemes, tragedies resulting from poor compounding practices, the opioid epidemic, drug pricing expansion, drug shortages and more have brought extensive public and political scrutiny.
Pharmaceutical supply chain professionals grapple with critical and ever-evolving challenges in maintaining regulatory compliance. LighthouseAI’s sophisticated product suite, rooted in the rapidly growing RegTech space, is specifically designed to overcome these hurdles to reduce risk and cost associated with compliance.
We are excited to support the Lighthouse team’s commitment to bring intelligent automation to an archaic, manual regulatory challenge dragging the life science industry
- Enmi Kendall, General Partner at Healthy Ventures
LighthouseAI Intelligence utilises artificial intelligence to identify facility-specific requirements and automate regulatory surveillance across all state and federal jurisdictions, tailored to a user’s exact business model and product portfolio. As the intelligence product solution identifies these requirements, LighthouseAI Management provides a robust system for efficient tracking and handling of responses, including secure uploading and storage of crucial documents, task management, and activity-level tracking, enabling the user to manage all related activities and obligations.
“With this investment, we’re enhancing our technology offerings and shaping the future of pharmaceutical compliance,” said Sumeet Singh, CEO of LighthouseAI. “Our momentum is strong, leveraging our seven years of thought leadership in this space with new clients adopting our technology and current clients transitioning to our latest solutions.”
The investment funds will be directed to enhance features and functionalities of LighthouseAI, scale operations to better serve the market, penetrate new segments within the industry, and solidify LighthouseAI’s position as an industry innovator.
Enmi Kendall, General Partner at Healthy Ventures, said: “We are excited to support the Lighthouse team’s commitment to bring intelligent automation to an archaic, manual regulatory challenge dragging the life science industry. We see tremendous potential in their approach and are eager to support their growth.”