What is ConsortiEX?
ConsortiEX specializes in DSCSA Compliance and IV Workflow Management Systems, offering tailored solutions for health system and hospital pharmacies. Their platform is designed to streamline adherence to the Drug Quality and Security Act, thereby enabling healthcare providers to enhance patient safety. With a client base exceeding 1,000 hospitals, ConsortiEX provides a distinctive compliance guarantee, covering any incurred fines. Their integrated software facilitates the management of pharmaceutical ordering, distribution, and tracking within a unified system, positioning them as a key player in pharmaceutical supply chain integrity.
How much funding has ConsortiEX raised?
ConsortiEX has raised a total of $5.5M across 6 funding rounds:
Debt
$250K
Unspecified
$1M
Angel/Seed
$625K
Private Equity
$2.6M
Unspecified
$750K
Debt
$350K
Debt (2014): $250K with participation from Wisconsin Economic Development Corporation
Unspecified (2015): $1M led by Open Prairie Ventures
Angel/Seed (2015): $625K, investors not publicly disclosed
Private Equity (2016): $2.6M, investors not publicly disclosed
Unspecified (2016): $750K backed by Serra Ventures
Debt (2020): $350K with participation from PPP
Key Investors in ConsortiEX
Open Prairie Ventures
Open Prairie Ventures is a private equity fund management firm with a strong focus on agriculture and rural America, aiming to enhance capital accessibility in underserved markets and managing diverse investment portfolios.
Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) spearheads economic development efforts for the state by advancing opportunities for businesses in Wisconsin.
Serra Ventures
Serra Ventures is a venture capital firm that focuses on funding early-stage technology startups, particularly in the AgTech sector, managing multiple funds to support innovation in technology and agriculture.
What's next for ConsortiEX?
The recent major strategic investment signals a pivotal growth phase for ConsortiEX. This capital infusion is expected to fuel further development of their DSCSA compliance and IV workflow solutions, potentially expanding their market reach within the healthcare sector. The company's focus on a critical regulatory area, coupled with a unique financial guarantee, positions them for sustained expansion and increased market share in the competitive health tech landscape. Future endeavors will likely involve enhancing their platform's capabilities and forging new partnerships to solidify their role in ensuring pharmaceutical safety and compliance.
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