The funding will help Qualio triple its headcount. Here are the top-line bullets you need to know.
Qualio, a quality management system software provider, has raised $50M in a Series B with participation from Tiger Global, Menlo Ventures, and Frontline Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Qualio is a cloud-based quality management software provider that assists life sciences companies in tracking and maintaining supply chain records and complying with the FDA and ISO.
- The company has offices in San Francisco and Dublin and caters to over 250 customers worldwide, such as Centogene, Poseida Therapeutics, Medable, and Ginkgo Bioworks.
- Qualio recorded an annual recurring revenue (ARR) of about $10M in 2020 and expects to quadruple that in 2021.
Source: Qualio
WHY DOES THE MARKET MATTER?
- The global healthcare quality management market is projected to grow at a CAGR of 14% and reach a value of $5.42B by 2027, according to Verified Market Research.
- The market is being driven by the rising volumes of unstructured data, the desire to reduce healthcare costs, and strict regulations to monitor the quality of treatment.
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