Healthcare-focused supply chain company Field Intelligence Inc. raised $6.7 million as it tries to raise over $10 million, according to a filing with the U.S. Securities and Exchange Commission.
The raise brings the company’s total funding to at least $10.3 million, based on previous SEC filings. There were 14 investors participating in the most recent raise. The company did not immediately respond to requests for comment on the investment.
Founded in 2015, Field Intelligence assists governments and businesses primarily in Africa manage medicine with its pharmaceutical supply-chain technology. It was founded by CEO Michael Moreland and chief technology officer Justin Lorenzon.
The SEC filing says the company is based in Marietta, but its website indicates its only offices are in Nigeria, Germany and Kenya.
The company signed an exclusive collaboration with Nigeria’s National Union of Road Transport Workers to become its official platform in 2016, according to its website. The following year, Nigeria’s National Supply Chain Integration Project adopted its Field Supply service as the country’s health logistics management information system.
It has also worked with UNICEF, the International Federation of Red Cross & Red Crescent, the Bill & Melinda Gates Foundation and McKinsey & Co.
In May 2022, the company ranked 24th on the Financial Times’ inaugural list of Africa’s fastest-growing companies with an absolute growth rate of 178.7% and revenue of $2.3 million between 2017 and 2020.
Field Intelligence has managed over 4,000 medical products and has had $1.5 billion in products ordered through its platform, according to its website.
