New Merger Underlies SaaS Offering For Specialty Chemicals Industry. Alchemy has acquired dryTools’ technology platform and hired its entire team. Alchemy targets the speciality chemical industry with an industry-leading, cloud-based product development platform.
The specialty chemical industry is “set to generate USD 1,273 billion by 2024” [ Nasdaq, GlobeNewswire ]. Product development is a core business process for every specialty chemical company. Yet each company has a unique structure and proprietary business processes. Alchemy’s software-as-a-service platform brings the complete product development cycle of specialty chemicals formulation into one holistic cloud-based platform.
“The merger between Alchemy and dryTools combines vast market and sales experience on one hand with powerful technology for software development on the other,” says Sasha Novakovich, CEO of Alchemy. “Together, we provide our customers with an extremely configurable product development platform. Alchemy creates an efficient digital path from customer need or product concept to final chemistry.”
“We view this merger with Alchemy as a great opportunity to showcase dryTools’ technical capabilities at scale. Our dev tools were designed to generate enterprise-grade SaaS code”, says Marko Gacesa, former CEO of dryTools and newly appointed Chief Product Officer of Alchemy. “And, we are thrilled to partner with Sasha and the Alchemy team. Their passion for making exceptional enterprise SaaS solutions is well known. It’s an honor to be able to design software alongside a team that equally values product and technology.”
Alchemy is based in San Francisco and has offices in both San Francisco and Novi Sad. Sasha Novakovich is the company’s CEO, Marko Gacesa its Chief Product Officer, and Dusko Vesin and Nikola Milinkovic its co-CTO’s with Nikola more focused on platform development and Dusko on tooling development.
South Central Ventures, was the lead investor in dryTools and will do its follow-ons in Alchemy. SC Ventures predominantly invests in SaaS-related startups. “We were attracted to the technical brilliance of the dryTools founders and the demonstrable ROI of their developer tools. The Alchemy partnership is very exciting. We believe dryTools are especially well suited for deployment into an industry, the magnitude and complexity of specialty chemicals.” says Jan Kobler, Managing Partner of South Central Ventures.
dryTools is a software development company that has built robust developer tools to streamline the software delivery process. dryTools help development teams address rapidly evolving product needs and deliver more value to customers by allowing developers to model applications through specifications and by working in fast delivery loops.
Alchemy is cloud-based software for the nearly $1 trillion global specialty chemical industry that facilitates the commercialization of new formulations. Alchemy’s configuration engine enables the rapid digitization of a company’s unique best practices. With an efficient digital path from customer need or product concept to final chemistry, specialty chemical companies can commercialize products faster and more efficiently. To learn more, visit Alchemy webpage