Qualio was founded in 2012 by Irishman Robert Fenton before he decided to move the company’s headquarters to San Francisco.
Qualio, a software company headquartered in San Francisco, has announced that it has raised $11 million (€9.6 million) and intends to use the funds to create a large number of jobs locally.
The company, which was founded by Irishman Robert Fenton in 2012 and has an Irish operation in Dublin, has developed a quality management software platform for the life sciences sector that helps companies create, deploy and manage products in a compliant and safe manner.
Qualio has over 1,000 clients including the German rare disease company Centogene and Poseida Therapeutics, the Malin-backed human therapeutics company, which recently filed for an initial public offering on the Nadsaq.
“Securing this funding during these uncertain times demonstrates the strength of our cloud quality management software”
“Customer trust, a key pillar of Qualio’s mission, is everything in life sciences,” said Robert Fenton.
“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. It also signals our commitment to simplifying complex quality processes so that life-saving products can be brought to market quickly and scaled successfully,” he added.
Before setting up Qualio, Cork native Robert Fenton worked as a pharmacist and in quality control and R&D roles at companies including Pfizer and LEO Pharma.
After starting the company in Ireland, Fenton decided to move the company to San Francisco as Qualio started to scale. So far, the company has raised $16.6 million to date.
“Innovations in science, manufacturing, and technology have led to the development of millions of products that we use every day”
Purpose-built for medical devices, pharmaceuticals, biotech and contract service providers, Qualio enables life science organisations to grow through all 12 pillars of quality as they scale.
The Series A funding round was led by Storm Ventures, and with new investors Sorenson Ventures, and the founders of healthcare tech company Flatiron Health and fintech Plaid. Existing backers MHS Capital and Dublin and London-based VC Frontline Ventures also participated.
“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,” said Arun Penmestsa, partner at Storm Ventures.
“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.”
Qualio currently employs 50 people, half of which are based in Dublin, where most of the company’s R&D is done, with plans to employ a further 70 people staff by the end of 2020.
By Stephen Larkin
Published: 17 July, 2020