Dot Compliance, a Phoenix, AZ-based provider of AI-enabled quality management system (QMS) solutions, raised $17.5M in Series B funding.
The round, which brought the total amount to $50M, was led by IGP Capital and Vertex Ventures with participation from TPY Capital.
The company intends to use the funds to accelerate its AI software solutions, drive continued product innovation and customer acquisition, and meet escalating market demand for AI-driven solutions that help life sciences organizations improve quality management and dynamic compliance requirements.
Led by Doron Sitbon, Founder and CEO, Dot Compliance offers a ready-to-use quality management system empowered by the Salesforce.com platform. Its suite includes an extensive set of off-the-shelf ready QMS and compliance pre-configured practice processes, enabling customers to deploy quickly and cost effectively. The solutions are used by life sciences companies, both large and small, and are fully compliant with 21 CFR part 11, EU-Annex 11 and support ISO 9001, 13485, 14791 and 27001.
Commenting on the news, Doron Sitbon said: “This funding will allow us to accelerate our momentum and double down on our AI solution. We are thrilled to be able to offer a solution that makes AI-powered insights accessible to all in the life sciences industry, regardless of what data sources they currently use. Dot Compliance is transforming into a data company as we create a new category of AI-driven compliance.”
FinSMEs
15/04/2024