Dot Compliance, an Israeli startup that calls itself the ready-to-use quality and compliance platform company, raised $23 million in Series B funding led by Israel Growth Partners (IGP) with participation from existing investors Vertex Ventures, and TPY Capital. This round brings total funding in Dot Compliance to $33 million to date.
A quality management system (QMS) is a system that records the guidelines, measures, and controls needed for any enterprise to create and deliver quality products and/or services to customers, and to improve customer satisfaction.
Basically a good working QMS ensures that customers’ needs are met, which creates greater consumer confidence in a business as well as consumer loyalty.
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Founded in 2015, Dot Compliance boasts that it offers the industry’s first ready-to-use Quality Management System powered by the Salesforce.com platform. The Dot Compliance Suite includes an extensive set of off-the-shelf ready QMS and compliance pre-configured best practice processes, enabling customers to deploy quickly and cost effectively. The company’s solutions are trusted by life sciences companies, both large and small, worldwide with more than 200,000 users.
Dot Compliance explains that rising costs of bringing a product to market, soaring costs of quality, and a stringent regulatory landscape have created an environment where life sciences companies must be able to quickly automate their quality and compliance processes to stay competitive. Traditional QMS solutions no longer address those needs.
The company has registered triple digit annual growth over three consecutive years, exceeding 200 customers in more than fifteen countries, and establishing a global network of partners across the life sciences ecosystem.
“Dot Compliance has shaken up a traditionally slow-moving space, setting a new standard for easy-to-deploy QMS solutions,” said Doron Sitbon, the founder and CEO of Dot Compliance. “We are excited about the partnership with IGP and their trust in our vision. The additional funds will allow us to advance our efforts in enabling life sciences organizations to quickly automate their development and manufacturing processes while ensuring compliance.”