Just as there is an app for everything, there’s also a platform for everything. In the life sciences manufacturing sector, Apprentice.io, a Jersey City-based life sciences manufacturing platform that helps manufacturers turn molecules into medicine, announced a new addition to its Tempo Manufacturing Cloud product suite — the Connected Manufacturing Network.
The cloud-native platform for pharma manufacturing execution also announced a $65 million investment led by new investor ICONIQ Growth, with meaningful participation from existing investors Alkeon Capital Management and Insight Partners.
Using CMN, companies can now connect all sites together to view, manage and accelerate the end-to-end drug production lifecycle.
The funding follows a Series C round raised in January 2022, bringing Apprentice’s total funding to $207 million. As part of the investment, Caroline Xie, general partner at ICONIQ Growth, will join as a board adviser.
“Apprentice’s growth is a testament to the critical role of advanced technologies in expediting the delivery of life-saving therapeutics to patients in need,” Xie said. “We firmly believe that Apprentice’s cutting-edge solutions can accelerate the life sciences industry into the modern era and facilitate the transition to the therapeutics of the future. We’re thrilled to be partnering with the Apprentice team to extend their impact globally.”
This financing caps off a stellar year for the company, with 3.4x year-over-year Tempo revenue growth, 218% net customer retention, inclusion in Gartner’s Manufacturing Execution System Magic Quadrant, and recognition on the Inc. 5000 and Deloitte Fast 500 as one of the fastest-growing companies in America.
Apprentice will focus this new investment on expanding the sales, marketing and customer success functions needed to help these companies make the transition from traditional on-premise providers to the Tempo Manufacturing Cloud.