ACTO Secures $18M Financing to Accelerate Growth and Strengthen Position as #1 Learning Platform in Life Sciences
News provided byACTO
Jul 07, 2022, 5:00 AM ET
TORONTO, July 07, 2022 (GLOBE NEWSWIRE) -- ACTO, the omnichannel learning and enablement platform for life sciences, today announced the closing of a US$18 million equity financing. The investment was led by Questa Capital, a healthcare venture growth equity firm that actively invests in healthcare and life sciences software. With this investment, Questa joins ACTO's existing investors: Resolve Growth Partners, Salesforce Ventures, Panache Ventures, and MaRS Investment Accelerator Fund1.
This investment by Questa Capital validates the large market opportunity to transform critical learning experiences and sales enablement approaches in the life sciences industry. The company will use the proceeds of the investment to accelerate the growth and scale of ACTO and explore potential business and partnership opportunities.
“The rapid growth of our customer community demonstrates the industry’s interest and hunger for a new way of delivering commercial learning and development. Trends driving this shift include the increase in clinical data and the demand for flexible access to information in the flow of work. We are happy to meet these needs with the only omnichannel learning platform for the life sciences industry,” says Parth Khanna, CEO of ACTO. He added, “We are thrilled to have Questa Capital join us on this journey and look forward to delighting our customers with innovative solutions, such as our recently announced conversational assistant LAICA™, to make commercial learning in Life Sciences easier and more engaging.”
ACTO is disrupting the learning experience and sales enablement landscape in life sciences, which is primed for a new, modern and user-accessible solution to training and enabling learners in pharma. This round of funding allows ACTO to expand and enhance capabilities to accelerate its technology as the #1 life sciences-focused learning enablement platform.
“At Questa, we are passionate about investing in innovative and well-positioned companies that empower the healthcare and life sciences industries to improve patient outcomes. We are excited to partner with Parth and the outstanding management team at ACTO to invest in the company’s strategic growth plan. With experienced leadership and cutting-edge SaaS technology, ACTO is serving a market ripe for a better approach,” says Ryan Drant, Founder and Managing Partner at Questa Capital, who was recently recognized as a top healthcare investor of 2022 by GrowthCap Advisory2.
The current financing brings ACTO's total invested capital to more than US$30 million. ACTO continues to experience robust user and revenue growth, including a 500% increase in annual recurring revenue since 2018.
Global life science companies rely on ACTO's AI-powered SaaS platform to transform their field teams’ learning journey and experience at scale. Commercial and clinical leaders leverage ACTO's omnichannel learning platform to educate and engage learners through unified educational experiences across the care continuum. Building an ecosystem for life sciences, ACTO maintains a network of partnerships with content agencies, data providers, technology companies, and more. To learn more about ACTO, please visit acto.com.
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About Questa Capital
Questa Capital is a venture growth equity firm focusing on investments in expansion-stage healthcare companies. Questa seeks out disruptive, technology-enabled business models that help improve patient lives, streamline market inefficiencies, and provide better quality care. The firm partners with superior management teams to help build innovative market leaders in the healthcare technology, services and medical devices sectors. Questa is led by industry veterans in healthcare investment and operations who have invested in and advised more than 50 growth-stage companies. More information is available at www.questacapital.com.
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