Israeli life sciences quality and compliance platform company Dot Compliance today announced the completion of a $23 million Series B financing round led by Israel Growth Partners (IGP), with participation from existing investors Vertex Ventures, and TPY Capital. This round brings the total amount raised by the company to $33 million.
The round will allow Dot Compliance to continue rapidly expanding to meet the demand for its quality management system (QMS). The company delivers cost-effective out-of-the-box solutions, allowing life sciences customers to quickly deploy flexible and scalable solutions. Powered by the Salesforce.com platform, Dot Compliance solutions include an extensive set of off-the-shelf ready quality and compliance best practice processes that enable life-sciences organizations to deliver life-saving, innovative products faster, safer, and more efficiently by providing them with ready-to-use and end-to-end SaaS solutions to manage their all quality and compliance needs.
Dot Compliance founder and CEO Doron Sitbon said, "Dot Compliance has shaken up a traditionally slow-moving space, setting a new standard for easy-to-deploy QMS solutions. - The additional funds will allow us to advance our efforts in enabling life sciences organizations to quickly automate their development and manufacturing processes while ensuring compliance."
"Innovative quality and compliance solutions have become invaluable to the modern life sciences organization," said Yoni Levy, Venture Partner at IGP. "Dot Compliance has positioned itself as the technology-defining industry leader and has rapidly expanded its client roster. We are thrilled to partner with this seasoned team on its mission to make quality easier, faster, and cheaper for life sciences companies - freeing them to do their important work of making us all healthier."
The round is the latest in a series of milestones for the company, including triple digit annual growth over three consecutive years, exceeding 200 customers in more than fifteen countries, and establishing a global network of partners across the life sciences ecosystem."
Published by Globes, Israel business news - en.globes.co.il - on July 20 2022.
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