Veratrak

Veratrak is a UK-based software company developing solutions for the life sciences supply chain, founded in 2017 by Jason Lacombe and Matthew Wilson. The founders, who met at the University of Oxford, identified significant inefficiencies and security risks in the largely paper-based and fragmented communication systems within the pharmaceutical industry. CEO Jason Lacombe's background as a health economist and his doctoral studies in population science at Oxford fueled his ambition to make medicines more affordable and transparent. Co-founder Matthew Wilson brought expertise in product management and technology, including experience with an early Electronic Medical Records blockchain project.

The company operates on a Software-as-a-Service (SaaS) business model, charging clients a monthly, volume-based license fee. Veratrak serves pharmaceutical companies and their external partners, such as contract development and manufacturing organizations (CDMOs), contract packaging organizations (CPOs), and third-party logistics providers (3PLs). The firm targets the operational blind spots and manual handovers that create compliance risks and increase costs. Veratrak has raised a total of $8.11 million over three seed funding rounds, with the latest in January 2023 bringing in $6.56 million, led by Crane Venture Partners.

Veratrak's core product is the 'Hub,' a supply chain collaboration platform designed to function as an integration and orchestration layer between life sciences companies and their outsourced partners. The Hub provides a single, secure channel to automate the extraction, synthesis, and visualization of partner performance metrics. A key feature is its use of a private blockchain to create an immutable audit trail for all document and data exchanges, ensuring data integrity and compliance with industry standards like GxP, FDA 21 CFR Part 11, and EU GMP Annex 11. The platform is system-agnostic, supporting various file formats and communication protocols, which allows it to connect with clients' existing ERP systems and onboard new partners with reduced time and cost. This streamlined integration helps reduce operational risk, improve visibility across the supply chain, and enable real-time monitoring through customized dashboards and reports. Keywords: life sciences supply chain, pharmaceutical manufacturing, supply chain collaboration, SaaS, blockchain in pharma, Jason Lacombe, Matthew Wilson, GxP compliance, data integrity, contract manufacturing organization (CMO), third-party logistics (3PL), clinical trial supply, pharma logistics, supply chain visibility, operational efficiency, regulatory compliance, document management software, ERP integration, digital transformation in healthcare, pharmaceutical packaging