Funding enables SaaS solutions provider to accelerate development of AI-enabled software platforms for the global life sciences industry
Axtria, a global cloud software and data analytics provider that helps life sciences businesses bring therapeutics to market faster, today announced that it has received a $150 million growth investment from Bain Capital Tech Opportunities. The funding will enable Axtria to consolidate its strong position in cloud software and artificial intelligence (AI) by rapidly expanding its suite of life sciences focused SaaS platforms.
“In choosing Bain Capital Tech Opportunities to be our growth partner, we have found a firm that believes in our vision of leveraging technology to help the life sciences industry accelerate therapeutic commercialization and has an exceptional track record of scaling enterprise SaaS companies,” said Jassi Chadha, CEO of Axtria. “With this significant funding, we are doubling down on our commitment to make the industry future-ready with record investments in our SaaS products. AI and Machine Learning driven advanced analytics will be embedded across all levels allowing companies to engage their customers through omnichannel strategies.”
With the life sciences and healthcare industry undergoing a significant acceleration in data-driven digital transformation, there is a strong push to leverage software technology and AI to effectively scale global commercial operations. The crisis created by the COVID-19 pandemic further accelerated this need. More than ever, companies are looking to replace archaic and ad hoc systems with digital data enablement, analytics at scale, and omnichannel software to deliver improved customer experience. Serving this impending need, Axtria has emerged as a disruptive and innovative leader with a robust suite of AI-powered platforms – Axtria DataMAx for data management, Axtria InsightsMAx for analytics, and Axtria SalesIQ and Axtria CustomerIQ for omnichannel commercial operations.
“Axtria’s mission-critical solutions impact millions of patients and foster better health outcomes, faster. Jassi, Navi and their talented team have been enormously successful in building the business into an industry leader and a trusted partner for life sciences and healthcare companies. We are thrilled to be their partner as the company embarks on its next phase of global expansion,” said Darren Abrahamson, Managing Director of Bain Tech Opportunities. “We look forward to supporting Axtria through organic growth initiatives and M&A opportunities and helping them drive new product development that delivers a unique value proposition to customers.”
“The industry is not just looking for consultants and custom-built solutions but for partners that will help them bring therapeutic drugs to market faster and efficiently,” added Chadha. “Over the years, we have made significant investments to develop life sciences-focused software platforms that significantly improve strategic and day-to-day global operations. With this new investment, Axtria will further solidify its leadership position of enterprise products that help customers drive better patient outcomes globally.”
Axtria supports more than 100 life sciences companies, including 12 of the top 20 global leaders with its cutting-edge software solutions. The company has been recognized for its growth in the Inc. 5000, Deloitte Technology Fast 500™, NJBIZ Fast 50, SmartCEO Future 50 and Red Herring 100 rankings.
Bain Capital has deep experience across the life sciences ecosystem, having invested in the growth of Cerevel Therapeutics, Atea Pharmaceuticals and SpringWorks Therapeutics. The firm has also scaled a wide range of healthcare technology companies including HST Pathways, IQVIA, Waystar and Zelis.
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.
