Dot Compliance, a Phoenix, AZ-based startup that provides an AI-powered quality management system for compliance, has secured $17.5 million in a Series B extension round, bringing its total funding to $50 million.
Investors
The round was led by existing investors IGP Capital and Vertex Ventures, with additional investment from TPY Capital.
Founded in 2014, Israel Growth Partners is a private equity firm based in Herzliya, Israel, focusing on investing in global companies at expansion stages. The firm seeks to invest in hi-tech companies across Israel.
Vertex Ventures is a global network of operator-investors who manage portfolios in the U.S., China, Israel, India, and Southeast Asia. Based in Palo Alto, California, the firm prefers to invest in enterprise and deep tech companies.
Dot Compliance Use of Funds
The company intends to use the funds to meet the increasing demand in the market for AI-driven solutions that enhance quality control and adapt to dynamic compliance needs within health sciences organizations. Additionally, the funds will be allocated to accelerate the development of its AI software solutions, continue product innovation, and expand its client base.
About Dot Compliance
Led by founder and CEO Doron Sitbon, Dot Compliance was founded in 2015 and launched its generative AI eQMS solution, Dottie AI, in 2023. The company offers a suite of products designed to streamline quality and compliance processes, leveraging AI technology to provide insights and facilitate regulatory adherence. With over 200,000 customers, the solutions are utilized by health sciences organizations of all sizes across the globe and are fully compliant with EU-Annex 11 and 21 CFR part 11. They also support ISO 9001, 13485, 14791, and 27001 standards.
Funding Details
Company: Dot Compliance Ltd.
Raised: $17.5 M
Round: Series B Extension
Funding Month: April 2024
Lead Investors: IGP Capital, Vertex Ventures
Additional Investors: TPY Capital
Company Website: https://www.dotcompliance.com/
Software Category: AI-powered Quality Management System
Source: https://startuprise.io/dot-compliance-secures-17-5mn-series-b-funding/