LighthouseAI Closes $4.6m Seed Round
Oversubscribed round fuels growth of compliance automation solutions for pharmaceutical supply chain
LOS ANGELES, October 24, 2023 (Newswire.com) - LighthouseAI™, an industry leader in compliance solutions for the pharmaceutical supply chain with over 8 years of experience and over 700 clients engaged, today announced the closing of an oversubscribed $4.6 million seed round. This new capital will further accelerate the development and growth of their flagship LighthouseAI product suite of compliance automation solutions for the pharmaceutical supply chain. The oversubscribed round reflects strong investor confidence in LighthouseAI's vision and potential as a first-mover, category-defining company engineered to automate pharmaceutical supply chain compliance for professionals responsible for adherence to regulations.
The round was led by Healthy Ventures and BluePointe Ventures, and had participation from Eileses Capital, Bertelsmann Next, The Legal Tech Fund, and additional angel investors.
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. LighthouseAI Intelligence™ utilizes 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.
"We are thrilled by the overwhelming investor support for our seed round," said Sumeet Singh, CEO of LighthouseAI. "The success of this raise signals confidence in our experienced team, innovative technology, and the large market opportunity. This funding enables us to scale rapidly and solidify our leadership in pharmaceutical supply chain compliance."
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 LighthouseAI 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."
LighthouseAI specializes in AI-driven solutions to navigate the complex landscape of regulatory compliance in the life sciences supply chain. With over 8 years of experience, 700 clients, and recognition as thought-leaders, LighthouseAI delivers a SaaS solution that ensures seamless alignment with life sciences compliance regulations, protecting revenue and reducing costs and risks. By eliminating human error and delivering quick, efficient compliance solutions, LighthouseAI revolutionizes the traditional methods of adherence to life sciences regulations. Learn more about how LighthouseAI is shaping the future of regulatory compliance at www.LighthouseAI.com.