Dot Compliance, a ready-to-use quality and compliance platform, has raised $23 million in Series B funding led by Israel Growth Partners (IGP) with participation from existing investors Vertex Ventures, and TPY Capital, the company announced Wednesday.
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"Dot Compliance has shaken up a traditionally slow-moving space, setting a new standard for easy-to-deploy QMS solutions," said Doron Sitbon, the founder and CEO of Dot Compliance. "We are excited about the partnership with IGP and their trust in our vision. 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."
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 15 countries, and establishing a global network of partners across the life sciences ecosystem.
"Digital transformation has finally reached the life sciences industry, and with it comes a need for companies of all sizes to leverage new technologies in their approach to quality and compliance," said Rosalind Beasely, VP Innovation at Dot Compliance.
With women comprising more than 50% of the company's headcount, Dot Compliance believes that establishing a diverse, global team encourages innovative thinking and delivering superior products to its customers.
