- Qualio — a trusted cloud quality management system software for the entire life sciences ecosystem — announced recently that it raised $50 million in Series B funding. These are the details.
Qualio — a trusted cloud quality management system software for the entire life sciences ecosystem — announced recently that it raised $50 million in Series B funding led by Tiger Global. Menlo Ventures also joined this round along with existing investors Frontline Ventures, MHS Capital, Operator Partners, Sorenson Ventures, and Storm Ventures.
This funding round will support Qualio’s efforts to expand the accessibility of their electronic quality management software (eQMS) and services for life sciences customers at a global scale and also fuel significant investment in product and engineering team growth. And so far, Qualio has raised over $63 million.
As modern life sciences companies have been looking to accelerate industry innovation and disruption, they cannot afford to have inefficient quality management slow down product accessibility. And this is creating a surge in demand for new technologies that unite disparate teams, tools, and data in a seamless virtual work environment. Qualio’s cloud quality management software supports life sciences organizations with technology and services that allow them to seamlessly manage critical quality processes across their entire supply chain.
In the past year, Qualio has experienced unprecedented customer demand, including more than 260% revenue growth year-over-year. And to support this demand, Qualio has focused on value-driven hiring — including tripling the size of their team in 2020.
Now the company has over 250 customers across the globe, spanning the medical device, pharmaceutical, biotech, and contract service provider markets. And customers include notable organizations such as Medable, Paula’s Choice Skincare, Proscia, and Ginkgo Bioworks.
Qualio is an all-remote company that was founded with the belief that culture and competency matter more than geography. And this means finding the best people to support their mission wherever they live. In order to support significant product development and customer growth goals, Qualio is looking to expand their global team by 300 percent by the end of 2021 with key roles in product development and engineering.
KEY QUOTES:
“With Qualio, life sciences companies can safely scale and accelerate availability of life-saving products. Modern-day life sciences companies need state-of-the art, easy-to-use tools to address what consumers have come to expect — to be able to trust that the products we put in or on our bodies are safe and effective and will work consistently to improve health and well-being.”
— Robert Fenton, Founder and CEO, Qualio
“Qualio has proven its ability to support life sciences organizations in bringing life-saving products to market faster without jeopardizing quality. Their modern, scalable, and user-friendly software married with their best-in-class services represents the future of accelerated product development in the highly regulated life sciences sector.”
— John Curtius, Partner, Tiger Global
