Enterprise start-up Qualio, which has bases in Dublin and San Francisco, has secured Series A funding to boost its international presence.
Qualio, a developer of cloud quality management software for the life sciences sector, has announced the closing of $11m in Series A funding. The round was led by Storm Ventures, with participation from Sorenson Ventures and the founders of Flatiron Health and Plaid.
Returning investors included MHS Capital and Frontline Ventures. The company said it will use the funding to scale its software and grow its international presence. As part of the funding, Storm Ventures’ Arun Penmetsa will join Qualio’s board of directors.
The start-up was founded in 2012 by Irishman Robert Fenton, who is CEO of the company, and now has offices in San Francisco and Dublin.
Fenton said that Qualio began fundraising efforts on 12 March during a “very different fundraising landscape” as in-person meetings were restricted and the markets were seriously impacted by Covid-19.
According to Fenton, the company’s ethos of having a “remote-first, location agnostic” workforce has helped it secure new funding. Qualio’s software aims to improve on previous paper-based processes that life sciences companies use to complete audits.
“Securing this funding during these uncertain times demonstrates the strength of our cloud quality management software, which unites fragmented teams, tools and data, enabling all life sciences companies to become quality driven,” he said.
“It also signals our commitment to simplifying complex quality processes so that lifesaving products can be brought to market quickly and scaled successfully.”
Storm Ventures partner Penmetsa added: “Innovations in science, manufacturing and technology have led to the development of millions of products that we use every day. A critical factor in managing the lifecycle of such products is quality management.
“Qualio addresses the challenges facing all life sciences companies by providing a comprehensive, flexible, easy-to-use but also rigorous system to help create, deploy and manage products in a compliant and safe manner.”