Funding enables SaaS solutions provider to accelerate development of AI-enabled software platforms for the global life sciences industry
Berkeley Heights, New Jersey - May 13, 2021
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.
About Bain Capital Tech Opportunities
Bain Capital Tech Opportunities (https://www.baincapitaltechopportunities.com/) aims to help growing technology companies reach their full potential. We focus on companies in large, growing end markets with innovative or disruptive technology where we believe we can support transformational growth. Our dedicated, tenured team has deep experience supporting growing technology businesses—bringing together differentiated backgrounds in private and public equity investing as well as technology operating roles. We invest behind fundamental long-term tailwinds as technology penetrates across industries, creating a large and growing number of investment opportunities. Bain Capital Tech Opportunities focuses on five priority sub-verticals: Application Software, Infrastructure & Security, Fintech & Payments, Healthcare IT, and Internet & Digital Media.
Axtria is a global provider of cloud software and data analytics to the life sciences industry. Axtria helps life sciences companies transform the product commercialization journey to drive sales growth and improve healthcare outcomes for patients. Axtria has a strong focus on sales and marketing operations in the life sciences industry. With customers in over 75 countries, Axtria is one of the biggest global commercial solutions providers in the life sciences industry.
Axtria helps customers improve operational effectiveness with solutions that leverage Big Data, cloud software, predictive analytics, and machine learning. Axtria DataMAxTM, Axtria InsightsMAxTM, Axtria SalesIQTM, and Axtria CustomerIQTM are cloud based software platforms that enable customers to efficiently manage data, leverage data science to deliver insights for sales and marketing planning, and manage end-to-end commercial operations. For more information, go to www.axtria.com.
Axtria, Axtria SalesIQTM, Axtria CustomerIQTM, Axtria InsightsMAxTM and Axtria DataMAxTM are trademarks or registered trademarks of Axtria. Other names may be trademarks of their respective owners.