menu
177 Huntington Ave,
16th Floor Boston, MA 02115
+1 617 830 2100
Volition
Nov 21, 2019

Tracelink Proves Continued Success in Global Customer and Network Growth in Q3 2019

Read Press Release on PRNewswire

NORTH READING, Mass., Nov. 21, 2019 /PRNewswire/ — TraceLink Inc., a network-based platform company with the world’s largest integrated digital supply network, today announced financial and company results for the third quarter of 2019.

Financial growth highlights for Q3 2019 include:

  • A 59 percent increase in new year-to-date bookings in the U.S.;

  • A 37 percent increase in year-to-date revenue, including growth in the following regions:

    • 52 percent revenue growth in EMEA;

    • 73 percent revenue growth in APAC; and,

    • 66 percent revenue growth in India.

  • A two-year revenue compound annual growth rate (CAGR) of 54 percent;

  • More than 1,250 customers by the end of Q3 across 50 countries:

    • 64 percent representing pharmaceutical and contract manufacturers;

    • 6 percent representing wholesale distributors, 3PLs and repackagers; and,

    • 30 percent representing pharmacies, hospitals, clinics and health systems.

  • Over 570 employees worldwide at the end of Q3.

“This quarter, TraceLink continued to help customers around the globe meet critical regulatory requirements, resulting in strong growth in several markets. Beyond that, we also collaborated with companies across the supply chain to help them understand the value that can be realized from their serialization investments by leveraging the power of the TraceLink network,” said Shabbir Dahod, president and CEO, TraceLink. “This is a very exciting time for TraceLink and the industry, as we continue to drive transformation with the announcement of the Digital Network Platform which will be a game-changer, breaking down existing barriers and providing hundreds of thousands of innovators within the industry with the power and insights to dramatically improve patient health.”

Recent Company growth highlights and milestones include: 

  • Announcing TraceLink’s Digital Network Platform – built on top of the TraceLink Digital Supply Network, the platform is designed for the rapid development of applications utilizing its multi-enterprise collaboration and data sharing capabilities, further transforming the global pharmaceutical supply chain.

  • Demonstrating growth in serial numbers commissioned on the TraceLink network totaling 6 billion serial numbers commissioned to date, demonstrating unparalleled network scalability.

  • Experiencing immense growth on TraceLink’s Digital Network with over 10,700 connections allowing network members to seamlessly exchange data.

  • Leading the market with the industry’s most serialization-ready customers with more than 700 companies on the TraceLink network that are live with serialization.

  • Hosting FutureLink Nashville – the only global drug supply chain industry event of its kind, with more than 260 attendees from companies across the life sciences industry.

  • Showcasing industry innovation through TraceLink’s pilot with Merck KGaA Healthcare – leveraging the TraceLink Digital Network Platform to improve supply-and-demand forecasting and reduce shortages of critical immune-oncology drugs.

  • Expanding its presence in Russia – partnering with Excellis Health Solutions to provide local implementations services for TraceLink’s Russia compliance solution, helping pharmaceutical companies comply with complex track and trace requirements.

  • Facilitating industry collaboration with TraceLink’s Customer Community – with 5,645 members representing more than 1,350 companies across 25 countries, the Community provides a platform for networking, innovation, and education that is shaping the future of an integrated digital supply network.

Read more about why Volition Capital invested in TraceLink 

Photo Credit by Kendal on Unsplash

Post tags: ,
Similar Articles
  • Volition
    Perspectives
    The SaaS-Enabled Network Effect
    The Network Effect The network effect is a concept that we hear often when speaking with both B2C and B2B technology companies. Conceptually, the network effect relies on a framework where the more users are using a product or platform, the stronger the value add becomes for other users, and this virtuous cycle feeds on … Continued
    Read more
  • Volition
    Perspectives
    The 10-Slide Investor Pitch Deck and How to Use It
    In his blog, Thinking on Thinking, Volition Capital Managing Partner, Larry Cheng, writes about how much he loves meeting with new companies. “To me,” he says, “it’s the oxygen of this business and the most energizing aspect of the job.” The one thing that can take the energy right out of an introductory meeting? A 20-40 page … Continued
    Read more