- Salesforce-based Enterprise Quality Management System (EQMS) ComplianceQuest announced it raised $36 million in Series A funding
ComplianceQuest — a Salesforce-based Enterprise Quality Management System (EQMS) — announced that it raised $36 million in Series A funding led by Insight Partners to accelerate the company’s continued global growth.
ComplianceQuest’s unified suite of applications are known for supporting end-to-end quality management processes in the Life Sciences and Manufacturing verticals for driving exceptional business value. And the company emphasizes on quality and risk management across the entire value chain from sourcing to manufacturing to supply-chain. As a Salesforce-native application suite, ComplianceQuest leverages built-in AI capabilities of the Salesforce platform to help its customers see further value by not just predicting actions, but also automating mundane, repetitive, and complex tasks.
With this round of funding, ComplianceQuest is going to expand its commercial footprint globally, enter new markets, expand the capabilities of the product suite, and scale its customer success group.
“We are excited to partner with Insight as we share a vision for further accelerating the strong growth that we have seen over the last three years,” said ComplianceQuest co-founder and CEO Prashanth Rajendran. “We look forward to bringing significant value to our customers in the quality, compliance, risk and safety space which is so essential to the well-being of product end-users as well as the financial health of manufacturers and service providers alike. EQMS is a rapidly growing industry, predicted to exceed USD 13.9 billion by 2025, according to a recent report by Grand View Research, Inc and we believe there is a big opportunity to build a market-leading company in this fast-growing and important cloud space.”
In conjunction with this round of funding, Insight Partners managing director Peter Sobiloff and vice president Jonathan Rosenbaum is joining the company board of directors.
“This strategic investment will spur additional innovations in CQ solutions that leverage AI, Predictive Analytics and the Salesforce Platform,” added Atulya Risal, the co-founder and CTO of ComplianceQuest. “We will realize our product vision at a more rapid pace as we strengthen our research, product, service, and support team.”
