Sware, a leading provider of comprehensive software validation solutions for progressive life sciences enterprises, has announced a successful Series B funding round, securing $6 million in investment. This latest funding round, led by First Analysis, brings Sware’s total raised capital to $26 million, with continued support from existing investors such as LRVHealth, New Stack Ventures, and Insight Partners.
The infusion of capital will be allocated towards advancing the research and development of Sware’s flagship computer systems validation (CSV) platform, Res_Q. This investment aims to further enhance the platform’s capabilities through the integration of artificial intelligence (AI), streamlining processes, and bolstering the company’s sales team. The goal is to extend the reach of Res_Q to more organizations grappling with validation debt—a term encompassing the accrued costs associated with release, testing, GxP compliance, and business requirements.
As part of the funding agreement, Matt Nicklin, managing director at First Analysis, will join Sware’s board of directors, bringing valuable expertise to the company’s strategic direction.
The life sciences and biotechnology sectors are experiencing unprecedented innovation, with record numbers of drug approvals and thousands of medicines in development worldwide. Technological advancements, including cloud computing and AI, have propelled this surge in innovation but have also introduced new regulatory challenges.
Regulatory bodies, such as the FDA, mandate the validation of computer systems used in development and manufacturing to ensure data integrity, security, and reliability. However, this task has become increasingly complex as software development adopts agile methodologies and continuous delivery practices.
Ellen Reilly, CEO of Sware, emphasizes the critical need for automation to address validation debt: “Every technological adoption or product update introduces additional validation requirements, leading to time delays and unforeseen expenses. Automation is key to eliminating validation debt, and our Res_Q platform is designed to address these challenges.”
According to Gartner®, CSV can add up to 30% to overall project costs in the life sciences industry, while McKinsey and Company estimates that quality assurance costs affect 12% to 18% of medical device industry revenue.
Sware’s Res_Q platform empowers pharmaceutical, medical device, and biotechnology companies to automate, integrate, and scale their validation processes. With its cloud-based architecture and open API framework, Res_Q enables organizations to manage all validation processes—from IT systems to manufacturing and lab systems—within a unified system. Intelligent risk assessments initiate workflows and allocate workloads based on risk profiles, prioritizing quality without compromising efficiency.
Alvin Coleman, vice president of information technology at G1 Therapeutics, highlights Sware’s expertise and flexibility in meeting industry requirements: “What sets Sware apart is their deep domain understanding and associated expertise of the relevant requirements and technology.”
Matt Nicklin of First Analysis underscores the importance of software quality assurance in ensuring product quality and patient safety within the life sciences industry. He expresses confidence in Sware’s ability to address validation challenges and accelerate innovation: “We’re investing in Sware because its proven technology can help companies escape the growing challenges of validation debt and more importantly, empower them to bring new innovations to market more quickly, efficiently and safely.
