Phoenix-based Dot Compliance, which supplies an AI-powered trait control machine for compliance, introduced it closed $17.5 million in Line B extension investment, bringing its general investment to $50 million.
The investment spherical used to be led through current buyers IGP Capital and Vertex Ventures with alternative funding from TPY Capital.
WHAT IT DOES
Dot Compliance AI answers serve a vendor-neutral eQMS platform for compliance wishes, which contains file, trade and provider trait 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 significance the budget to additional build its AI answers and force buyer acquisition and innovation.
“We are thrilled about this new phase of growth in Dot Compliance’s evolution. From the initial launch of our quality management platform to our AI-enabled solutions … to our transformation to a data company, Dot Compliance continues to be at the forefront of innovation. We’re excited for this new journey and grateful for the continued support of our investors,” Mickey Landkof, common 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 range come with AI-driven Mind and Eire-based Qualio.
Mind introduced its AI-powered eQMS platform in September of 2023, known as Mind AI. The eQMS device makes use of OpenAI and ChatGPT for its AI laborer to manufacture trait and protection extra environment friendly, with out the desire for coding.
In 2021, Cork-based Qualio secured $50 million in a Line B investment spherical. The spherical used to be led through Tiger World and Menlo Ventures with alternative aid from current buyers Hurricane Ventures, MHS Capital, Sorenson Ventures and Frontline Ventures.
