Phoenix-based Dot Compliance, which gives an AI-powered high quality control gadget for compliance, introduced it closed $17 million in Collection B extension investment, bringing its overall investment to $50 million.
The investment spherical used to be led by way of present buyers IGP Capital and Vertex Ventures with further funding from TPY Capital.
WHAT IT DOES
Dot Compliance AI answers supply a vendor-neutral eQMS platform for compliance wishes, which incorporates record, trade and provider high quality control. Compliance rules and requirements that the answers cope with come with FDA 21 CFR Phase II, FDA 21 CFR Phase 820 and EU GMP Annex II.
Dot Compliance will use the budget to additional broaden its AI answers and power buyer acquisition and innovation.
“We’re extremely joyful about this new section of expansion in Dot Compliance’s evolution. From the preliminary release of our high quality control platform to our AI-enabled answers…to our transformation to an information corporate, Dot Compliance is still at the leading edge of innovation. We’re excited for this new adventure and thankful for the continuing toughen of our buyers,” Mickey Landkof, normal supervisor and world VP of gross sales at Dot Compliance, instructed MobiHealthNews in an e-mail.
MARKET SNAPSHOT
Dot Compliance used to be based in 2015 and introduced its generative AI eQMS resolution, Dottie AI, in 2023.
Competition within the eQMS area come with AI-driven Mind and Eire-based Qualio.
Mind introduced its AI-powered eQMS platform in September of 2023, referred to as Mind AI. The eQMS tool makes use of OpenAI and ChatGPT for its AI assistant to make high quality and protection extra environment friendly with out the usage of coding.
In 2021, Cork-based Qualio secured $50 million in a Collection B investment spherical. The spherical used to be led by way of Tiger World and Menlo Ventures with further toughen from present buyers Hurricane Ventures, MHS Capital, Sorenson Ventures and Frontline Ventures.