Dot Compliance, a Phoenix-based company that provides AI-powered quality management systems for compliance, announced that it has raised $17 million in Series B extension funding, bringing total funding to $50 million.
The funding round was led by existing investors IGP Capital and Vertex Ventures, with additional investment from TPY Capital.
function
The Dot Compliance AI solution provides a vendor-neutral eQMS platform for your compliance needs, including document, change, and supplier quality control. Compliance regulations and standards addressed by this solution include FDA 21 CFR Part II, FDA 21 CFR Part 820, and EU GMP Annex II.
Dot Compliance will use the funding to further develop its AI solutions to drive customer acquisition and innovation.
”We are excited about this new phase of growth in the evolution of Dot Compliance. From the initial launch of our quality management platform, to our AI-enabled solutions…and our transformation into a data company, Dot Compliance continues to be at the forefront of innovation. We are excited about this new journey and appreciate the continued support of our investors,“ said Mickey Landkopf, general manager and vice president of global sales for Dot Compliance. Mobi Health News on mail.
market snapshot
Dot Compliance was founded in 2015 and launched Dottie AI, a generative AI eQMS solution, in 2023.
Competitors in the eQMS space include AI-driven Intellect and Ireland-based Qualio.
Intellect is eQMS powered by AI We are launching a platform called Intellect AI in September 2023. eQMS software uses OpenAI and ChatGPT for its AI assistant, making quality and safety more efficient without the need for coding.
Qualio based in Cork in 2021 Secured $50 million in a Series B funding round. The round was led by Tiger Global and Menlo Ventures, with additional support from existing investors Storm Ventures, MHS Capital, Sorenson Ventures, and Frontline Ventures.