Ketryx raises $18M to accelerate software development cycles in the medical industry
This article originally appeared in SiliconANGLE on December 5, 2024.
Ketryx Corp., a startup that offers connected application lifecycle management software that’s tailor-made for the life sciences and medical industries, said today it has closed on a $14 million early-stage round of funding.
Today’s Series A round was led by new investor Lightspeed Venture Partners, with participation from existing backers MIT E14 Fund and Ubiquity Ventures, bringing the startup’s total amount raised to date to $18 million.
Like most other industries today, the healthcare sector has become reliant on rapid software development, and it has had an enormous beneficial impact on patient outcomes. However, software development takes place at such speed that much of the new code created by the industry is buggy. What’s more, the code is becoming increasingly complex at a time when life sciences firms are looking to explore the potential of artificial intelligence-based applications.
Considering the especially complex regulations that healthcare companies must adhere to, it’s no surprise that software development is becoming a significant challenge for the industry to keep up with. In particular, software quality assurance has become an “inhuman task,” the startup says. It has traditionally always been done manually, but given the potential for harm if medical applications are vulnerable to risks, the industry desperately needs a more efficient solution.
