Qualio Secures $50 Million in Series B Funding To Help Innovative Life Sciences Companies Unite Speed with Quality
Latest funding round will support customer expansion at global scale, as well as significant investment in product and engineering
SAN FRANCISCO, May 25, 2021 /PRNewswire/ -- Less than one year since the announcement of their $11 million Series A, Qualio — the trusted cloud quality management system software for the entire life sciences ecosystem — today announced their $50 million Series B funding round led by Tiger Global. Menlo Ventures also joined this round, alongside the following current Qualio investors: Frontline Ventures, MHS Capital, Operator Partners, Sorenson Ventures, and Storm Ventures.
This latest round of funding will support Qualio's efforts to expand accessibility of their electronic quality management software (eQMS) and services for life sciences customers at global scale and also fuel significant investment in product and engineering team growth. To date, Qualio has raised more than $63 million.
As modern life sciences companies look to accelerate industry innovation and disruption, they cannot afford to have inefficient quality management slow down product accessibility. 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.
"With Qualio, life sciences companies can safely scale and accelerate availability of life-saving products," said Robert Fenton, Founder and CEO, Qualio. "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."
Over the last year, Qualio has experienced unprecedented customer demand, including more than 260 percent revenue growth year-over-year. To support this demand, Qualio has focused on value-driven hiring — including tripling the size of their team in 2020. The company now has more than 250 customers across the globe, spanning the medical device, pharmaceutical, biotech, and contract service provider markets. 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. This means finding the best people to support their mission wherever they live. 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.
"Qualio has proven its ability to support life sciences organizations in bringing life-saving products to market faster without jeopardizing quality," said John Curtius, Partner, Tiger Global. "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."
For more insight on how Qualio can help your life sciences organization accelerate delivery of products that are safe and effective, visit Qualio.com.
About Qualio
With more than 250 life sciences customers worldwide, Qualio is the most trusted quality management software for teams launching and scaling life-saving products. Leading pharmaceutical, biotech, medical device, and clinical research organizations leverage Qualio's cloud-based quality management system software to unite their teams' processes and data. Qualio enables customers to deliver on the promise of quality and meet the complex regulatory compliance requirements without sacrificing speed.
Qualio's global, all-remote team prides itself on empowering customers to deliver effective, consistent, and safe products that improve all of our lives. For more information, please visit us at Qualio.com, LinkedIn, or Twitter.
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