Ketryx, a company providing special software for the healthcare industry, has successfully raised $14 million in Series A funding. This round was led by Lightspeed Venture Partners, with participation from existing investors like MIT’s E14 Fund and Ubiquity Ventures, bringing the total funding raised to over $18 million.
The new funds will be used to speed up product development and expand commercial operations.
In the healthcare sector, the use of software, including Artificial Intelligence/Machine Learning (AI/ML), is on the rise to improve patient outcomes. However, companies are facing challenges in maintaining quality assurance and regulatory compliance as software updates become more frequent and software complexity increases.
Ketryx’s mission is to enhance medical software safety and reliability, aiming to reduce recalls and improve patient outcomes. With the growing complexity of quality assurance in the healthcare industry due to the rapid integration of software and AI, Ketryx seeks to address these challenges.
Traditional manual methods for software quality assurance are now insufficient and prone to errors. Ketryx aims to integrate automation and quality process enforcement into the software development lifecycle, ensuring teams follow best practices and identify and mitigate risks proactively.
The Ketryx team includes experts with backgrounds in software development, regulation, and AI/ML, including professionals from the FDA and quality leaders from prominent biotechnology companies like Amgen.
Ketryx has developed a Connected Lifecycle Management platform, aligning and automating many manual tasks required in medical software development. This platform provides a single source of truth for the entire product lifecycle, ensuring FDA compliance.
As the importance of software in healthcare grows, so does the need for regulation, especially in areas impacting human health and safety. Ketryx’s platform aims to help companies develop software faster while maintaining safety and compliance with regulations.
The company is assisting leading medical device manufacturers worldwide in streamlining their regulated development processes, delivering safer software faster for various medical applications.
Ketryx, using its own software, regularly builds and releases FDA-compliant cloud-based validated software, attracting early customers with its promise of improved efficiency, quality, and compliance.