Cloud quality management system Qualio recently announced the close of its $11mn Series A funding round led by Storm Ventures. The recent funding will be to scale the company’s quality management software and continue building a remote-first team.
As part of the funding, Arun Penmestsa of Storm Ventures will join Qualio’s board of directors. New investors Sorenson Ventures and the founders of Flatiron Health and Plaid and existing investors MHS Capital and Frontline Ventures all participated in the funding round.
“Customer trust, a key pillar of Qualio’s mission, is everything in Life Sciences,” said Robert Fenton, Qualio’s Founder and CEO. “Securing this funding during these uncertain times demonstrates the strength of our cloud quality management software, which unites fragmented teams, tools, and data, enabling all Life Sciences companies to become quality-driven. It also signals our commitment to simplifying complex quality processes so that life-saving products can be brought to market quickly and scaled successfully.”
Purpose-built for medical devices, pharmaceuticals, biotech and contract service providers, Qualio enables Life Science organizations to grow through all 12 pillars of quality as they scale. Traditional quality management software (eQMS) rely heavily on paper-based processes that make tracking changes and completing FDA audits hard to manage and inefficient. With its eQMS, Qualio provides a turnkey solution that life sciences companies can easily implement and quickly scale to meet their needs.
“Innovations in science, manufacturing, and technology have led to the development of millions of products that we use every day. A critical factor in managing the lifecycle of such products is quality management,” said Arun Penmestsa, Partner at Storm Ventures. “Qualio addresses the challenges facing all Life Sciences companies by providing a comprehensive, flexible, easy-to-use but also rigorous system to help create, deploy and manage products in a compliant and safe manner.”
In a unique turn of events, Qualio began its fundraise on March 12, the day of the worst Dow Jones Industrial Average decline since 1987. The market’s drop, coupled with a lack of in-person meetings necessitated by COVID-19 related guidelines, created a fundraising landscape with no historical precedent. Qualio’s remote-first approach allowed it to seamlessly execute presentations and investor meetings over video conference, successfully closing the round without a single in-person meeting.
Founded in 2012, Qualio is the first cloud quality management software for all Life Sciences companies. Medical device and pharmaceutical companies need a secure and scalable quality management system with the flexibility to support their evolving needs. Qualio meets that challenge by cutting through the complexity to optimize and automate critical quality processes.
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