TraceLink Funding, Investors & Competitors

TraceLink has raised $230M across 5 funding rounds, most recently a $93M Series D in August 2018.

Last TraceLink funding round

$93M

Series D · Aug 2018

Cumulative funding TraceLink raised

$230M

across 5 funding rounds

Key investors in TraceLink

  • FirstMark
  • F-Prime
  • Volition Capital
  • Goldman Sachs
  • Vulcan Capital
  • Georgian
  • Goldman Sachs Growth Equity
  • Willett Advisors LLC

TraceLink Overview

About TraceLink

TraceLink is a Wakefield, Massachusetts-headquartered provider of supply chain digitalization platforms for life sciences. The Opus Platform connects manufacturers, distributors, and healthcare providers through multienterprise networks for serialization, track-and-trace, and cold chain management. It facilitates compliance with global regulations like DSCSA and EU FMD. TraceLink maintains offices across North America, Europe, South America, and Asia, serving pharmaceutical giants including Pfizer and Merck.


Founded

2009

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

TraceLink Funding History

TraceLink has raised a total of $230M across 5 funding rounds.

TraceLink's first fundraising round was a $6M Series A in February 2014. The most recent completed round was a $93M Series D in August 2018.

TraceLink funding rounds

TraceLink funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2018Series DGeorgian (lead); Willett Advisors LLC; Volition Capital; FirstMark; F-Prime; Goldman Sachs; Vulcan Capital$93MTraceLink, a North Reading, Massachusetts-based company founded in 2009, provides a SaaS platform that operates the world's largest track-and-trace network for the life sciences supply chain, connecting over 270,000 drug companies, wholesalers, third-party logistics providers, parallel importers, repackagers, hospitals, and pharmacies to enable real-time information sharing, compliance with regulations like the U.S. Drug Supply Chain Security Act, and reduction of issues such as drug diversion, counterfeit drugs, revenue leakage, and operational inefficiencies costing the industry over $100 billion annually. The company serves more than 930 direct customers, including contract manufacturing organizations, and focuses on digital supply chain solutions leveraging serialization data. On August 21, 2018, TraceLink closed a $93 million Series D investment round led by Georgian Partners, with participation from new investors Vulcan Capital and Willett Advisors LLC, and all existing investors including Goldman Sachs, FirstMark Capital, Volition Capital, and F-Prime Capital. This round brought the company's total funding since inception to $167 million. Of the $93 million, $60 million was for primary shares and $33 million for secondary shares of previous shareholders. Georgian Partners' Tyson Baber joined the board. TraceLink plans to use the proceeds to accelerate expansion of its information-sharing network platform, invest in machine learning, artificial intelligence, blockchain, and an open development platform for predictive analytics, and extend into areas like supplier collaboration, patient communities, personalized medicine, predictive care, gene therapies, supply chain and inventory management, global product recalls, and enhanced R&D and services. The funding supports growth amid a digital tipping point in the pharmaceutical industry, positioning TraceLink to evolve from a track-and-trace specialist toward a comprehensive supply chain orchestration platform similar to an SAP for life sciences. Around the time of the round, TraceLink reported strong financial growth highlights, including a 62% year-over-year revenue increase in Q2 2018, 42% year-over-year growth in all bookings for the same period, and a two-year compound annual revenue growth rate of 71%, alongside customer and network expansion.
Jun 2018Series DVolition Capital; FirstMark; F-Prime; Goldman Sachs; Vulcan Capital$60MTraceLink is a digital supply chain platform providing real-time information sharing and serialization solutions for the life sciences industry. The company experienced rapid growth throughout 2018, achieving 55% year-over-year revenue growth in Q3 2018, 62% growth in Q2 2018, 69% growth in Q1 2018, and 59% growth in Q4 2018. By the end of Q3 2018, the company had 1,016 customers across 44 countries, representing 46% year-over-year growth, with 63% of customers in pharmaceutical and contract manufacturing.
Nov 2016Series CGoldman Sachs Growth Equity (lead); Volition Capital; FirstMark; F-Prime$52MTraceLink is the world's largest track and trace network connecting the life sciences supply chain to eliminate counterfeit prescription drugs. It provides a SaaS platform for tracking and tracing pharmaceuticals to help businesses comply with regulations like the Drug Supply Chain Security Act while achieving benefits beyond compliance. The company raised $51.5 million in a Series C funding round on November 30, 2016, led by Goldman Sachs Growth Equity, with participation from existing investors FirstMark Capital, Volition Capital, and F-Prime Capital. Jason Kreuziger from Goldman Sachs and Amish Jani from FirstMark Capital joined the board. The funding was aimed at accelerating growth, expanding services, scaling operations, and enhancing supply chain orchestration capabilities to meet increasing demand in healthcare and life sciences sectors. TraceLink had previously raised in Series A ($5.5 million in February 2014 led by FirstMark) and Series B ($20.2 million in February 2015 led by Volition Capital). TraceLink continued growth post-2016, raising additional rounds including a Series D in August 2018 at a $657 million post-money valuation (though not part of this specific round). The company acquired SupplyScape and ROC IT Solutions, focusing on pharmaceutical supply chain management, and made its services available on AWS in 2022. Total funding exceeded $234 million by later reports, with investors including Goldman Sachs and others driving expansion in product, customer base, and geographic reach.
Feb 2015Series BVolition Capital (lead); FirstMark; F-Prime$20MTraceLink, a supply chain orchestration platform focused on the healthcare and life sciences industries, raised $20 million in a Series B funding round on February 18, 2015, led by Volition Capital with participation from F-Prime Capital and FirstMark Capital. The funds were intended to scale operations and meet growing demand in sectors requiring compliance with drug tracking regulations like the Drug Supply Chain Security Act. This followed a Series A round of approximately $5.5 million in February 2014 led by FirstMark. To date at that time, TraceLink had raised about $27.2 million in total equity financing. The company provides a network platform that enables multi-enterprise applications to digitize supply chains, particularly for pharmaceuticals, helping to track drugs, prevent counterfeiting, ensure compliance, improve delivery, and reduce costs. Recognized with awards such as Deloitte’s Technology Fast 500 (ranked 293 in 2015), Amazon AWS Global Start-Up Challenge Grand Prize, and Edison Award for Innovation in Health Management, TraceLink positioned itself as a leader in life sciences cloud solutions. Total funding raised across rounds exceeded $234 million by later reports, with investors like Volition focusing on high-growth software firms.
Feb 2014Series AFirstMark (lead); Lawrence Lenihan$6MTraceLink raised $5.5 million in a Series A funding round in February 2014 led by FirstMark Capital with participation from Lawrence Lenihan to expand its network and enhance supply chain orchestration capabilities in the life sciences sector. The company provides a SaaS platform for pharmaceutical serialization, track and trace, and supply network solutions connecting manufacturers, distributors, and other participants to combat counterfeits and ensure compliance. In 2013 leading up to the round, TraceLink experienced rapid growth with revenue more than doubling due to new customer wins, alongside broad adoption of its Life Sciences Cloud platform and management of over $6 billion in new pharmaceutical products from 14,000 manufacturing batches. The financing supported global expansion and further platform investments amid network effects in the pharmaceutical supply chain.

Who has invested in TraceLink?

9 investors have backed TraceLink across its funding rounds, including FirstMark, F-Prime, Volition Capital, Goldman Sachs, Vulcan Capital and Georgian.

Lead investors include Georgian, Goldman Sachs Growth Equity, Volition Capital and FirstMark.


TraceLink Investors

Investors in TraceLink by funding rounds participated
InvestorHQRoundsRoleFirst check
FirstMarkUnited StatesNew York City, NY5LeadFeb 2014
Volition CapitalUnited StatesBoston, MA4LeadFeb 2015
F-PrimeUnited StatesUnited States4ParticipantFeb 2015
Goldman SachsUnited StatesNew York City, NY2ParticipantJun 2018
Vulcan CapitalUnited StatesSeattle, WA2ParticipantJun 2018
Willett Advisors LLCUnited StatesUnited States1ParticipantAug 2018
GeorgianCanadaToronto1LeadAug 2018

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by TraceLink

TraceLink has acquired 1 company to date.

Last acquisition by TraceLink was on August 1st 2017. TraceLink acquired ROC IT Solutions for undisclosed valuation.


Latest Acquisitions by TraceLink

ROC IT Solutions
Description
ROC IT Solutions is a U.S.-based specialist in edge computing for pharmaceutical supply chain serialization and track-and-trace systems. The company deploys hardware and software for label printing, aggregation, and verification at warehouses, integrating with ERP systems, EPCIS standards, and warehouse management software. ROC IT Solutions supports compliance with FDA and EU regulations for serialized drug distribution across North America.
HQ CountryUnited States
HQ City
Rochester, NY
Deal Date1 Aug 2017
Valuationundisclosed
EV/Revenue
EV/EBITDA

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TraceLink Competitors

TraceLink competitors include listed companies like Manhattan Associates, Descartes Systems Group and Ingram Micro, and private ones like Meicai, RELEX Solutions and Workato.

Public and private companies comparable to TraceLink
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Manhattan AssociatesUnited StatesUnited StatesPublicly listed$1.1B$288M$12B10.6x
MeicaiChinaBeijingPrivate--$7B-
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$6.8B8.1x
Ingram MicroUnited StatesUnited StatesPublicly listed$53B$1.1B$6.3B0.2x
RELEX SolutionsFinlandHelsinkiPrivate--$5.8B-
WorkatoUnited StatesSan Francisco, CAPrivate$30M-$5.7B190.0x

TraceLink Public Comps

TraceLink is still privately-owned, but its public comps include Manhattan Associates, Descartes Systems Group, Ingram Micro, HopeRun, Wuchan Zhongda Group Co, Kinaxis, SPS Commerce, Xiamen Xiangyu Co, GigaCloud Technology and Infomart.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Manhattan Associates$1.1B$288M11.2x10.6x42.2x29.7x
Descartes Systems Group$729M$305M8.8x8.1x21.1x17.7x
Ingram Micro$53B$1.1B0.2x0.2x8.7x6.6x
HopeRun$594M$42M7.1x6.4x100.0x-
Wuchan Zhongda Group Co$89B$1.5B0.1x0.1x8.5x7.3x
Kinaxis$548M$102M5.9x5.3x31.7x20.3x
SPS Commerce$752M$182M3.6x3.5x15.0x10.6x
Xiamen Xiangyu Co$61B$523M0.1x0.1x13.8x10.4x

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Common questions about TraceLink

When was TraceLink founded?TraceLink was founded in 2009.
Where is TraceLink headquartered?TraceLink is headquartered in Boston, MA, United States.
Is TraceLink publicly listed?No, TraceLink is a private, VC-backed company.
How much funding has TraceLink raised?TraceLink has raised $230M across 5 funding rounds.
What was TraceLink's last funding round?TraceLink's last funding round was a $93M Series D in August 2018, led by Georgian.
Who are TraceLink's investors?TraceLink's investors include FirstMark, Volition Capital, F-Prime, Goldman Sachs, Vulcan Capital, Willett Advisors LLC, Georgian, Lawrence Lenihan and Goldman Sachs Growth Equity.
Which companies are comparable to TraceLink?Companies comparable to TraceLink include Manhattan Associates, Meicai, Descartes Systems Group, Ingram Micro, RELEX Solutions and Workato.
How many companies has TraceLink acquired?TraceLink has acquired 1 company, including ROC IT Solutions.

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