Dot Compliance, a ready-to-use compliance platform, has bagged $23m for its Series B round, which was led by Israel Growth Partners.
Contributions also came from existing investors Vertex Ventures and TPY Capital.
With the capital, the company plans to accelerate its hypergrowth, which has been driven by the demand for its quality management system, Dot Compliance stated. Funds will also be used to expand its global presence, invest into its products and improve its offering.
Dot Compliance claims to offer an industry first ready-to-use quality and compliance solution. It offers out-of-the-box solutions that allow life science customers to deploy flexible and scalable solutions.
Dot Compliance founder and CEO Doron Sitbon said, “Dot Compliance has shaken up a traditionally slow-moving space, setting a new standard for easy-to-deploy QMS solutions.
“We are excited about the partnership with IGP and their trust in our vision. The additional funds will allow us to advance our efforts in enabling life sciences organisations to quickly automate their development and manufacturing processes while ensuring compliance.”
Dot Compliance has experienced a strong period of growth, including a triple digit annual growth over three consecutive years and exceeding 200 customers in more than 15 countries.
With the close of the round, the company has raised a total of $33m in funding.
In other RegTech news, Novatus Advisory has collected £4m from UK-based venture firm Maven Capital Partners. The London-based RegTech company offers specialised advice to financial services firms to help with regulatory requirements, such as risk, compliance and ESG programmes.
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