Phoenix-based Dot Compliance, which supplies an AI-powered high quality administration system for compliance, introduced it closed $17 million in Collection B extension funding, bringing its complete funding to $50 million.
The funding spherical was led by present buyers IGP Capital and Vertex Ventures with further funding from TPY Capital.
WHAT IT DOES
Dot Compliance AI options present a vendor-neutral eQMS platform for compliance wants, which incorporates doc, change and provider high quality administration. Compliance laws and requirements that the options deal with embody FDA 21 CFR Half II, FDA 21 CFR Half 820 and EU GMP Annex II.
Dot Compliance will use the funds to additional develop its AI options and drive buyer acquisition and innovation.
“We’re thrilled about this new section of development in Dot Compliance’s evolution. From the preliminary launch of our high quality administration platform to our AI-enabled options … to our transformation to an information firm, Dot Compliance continues to be on the forefront of innovation. We’re excited for this new journey and grateful for the continued assist of our buyers,” Mickey Landkof, basic supervisor and world VP of gross sales at Dot Compliance, instructed MobiHealthNews in an electronic mail.
MARKET SNAPSHOT
Dot Compliance was based in 2015 and launched its generative AI eQMS resolution, Dottie AI, in 2023.
Opponents within the eQMS house embody AI-driven Mind and Eire-based Qualio.
Mind launched its AI-powered eQMS platform in September of 2023, referred to as Mind AI. The eQMS software program makes use of OpenAI and ChatGPT for its AI assistant to make high quality and security extra environment friendly, with out the necessity for coding.
In 2021, Cork-based Qualio secured $50 million in a Collection B funding spherical. The spherical was led by Tiger World and Menlo Ventures with further assist from present buyers Storm Ventures, MHS Capital, Sorenson Ventures and Frontline Ventures.
