ACTO Secures $18 Million in Funding to Accelerate Growth and Strengthen Its Position as the #1 Learning Platform in the Life Sciences

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TORONTO, July 07 2022 (GLOBE NEWSWIRE) — ACTO, the omnichannel learning and enablement platform for the life sciences, today announced the closing of an $18 million US equity financing. The investment was led by Questa Capital, a growth healthcare venture capital firm that actively invests in healthcare and life sciences software. With this investment, Questa joins existing ACTO investors: Resolve Growth Partners, Salesforce Ventures, Panache Ventures and MaRS Investment Accelerator Fund1.

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This investment from Questa Capital validates the great market opportunity to transform critical learning experiences and sales enablement approaches in the life sciences industry. The company will use the investment proceeds to accelerate ACTO’s growth and scale 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 to deliver business learning and development. Trends driving this change include the increase in clinical data and the demand for flexible access to information in the workflow. We are pleased 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 we look forward to delighting our clients with innovative solutions, such as our recently announced LAICA™ conversational assistant, to make business learning in science more life easier and more attractive.

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ACTO is disrupting the learning experience and sales enablement landscape in the life sciences, which is ripe for a new, modern, user-accessible solution to train and empower learners in the pharmaceutical industry. This round of funding allows ACTO to expand and enhance its capabilities to accelerate its technology as a life science-focused learning platform.

“At Questa, we are passionate about investing in innovative, well-positioned companies that enable the healthcare and life sciences industries to improve patient outcomes. We are delighted to partner with Parth and the exceptional management team at ACTO to invest in the company’s strategic growth plan. With experienced leadership and cutting-edge SaaS technology, ACTO serves a market ripe for a better approach,” says Ryan Drant, Founder and Managing Partner at Questa Capital, which was recently recognized as one of the top healthcare investors of 2022 by GrowthCap Advisory2.

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The current financing brings ACTO’s total invested capital to over US$30 million. ACTO continues to experience strong user and revenue growth, including a 500% increase in annual recurring revenue since 2018.

About ACTO
Global life science companies rely on ACTO’s AI-powered SaaS platform to transform the learning journey and experience of their field teams at scale. Business and clinical leaders leverage ACTO’s omnichannel learning platform to educate and engage learners through unified educational experiences across the continuum of care. 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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[email protected]
403-804-0768

About Questa Capital
Questa Capital is a growth venture capital firm focused on investing in expansion-stage healthcare companies. Questa seeks disruptive, technology-enabled business models that help improve patient lives, streamline market inefficiencies, and deliver higher quality care. The company partners with high-level leadership teams to help create innovative market leaders in the healthcare technology, services and medical device industries. Questa is led by healthcare investment and operations industry veterans who have invested in and advised more than 50 growth-stage companies. More information is available at www.questacapital.com.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39e47304-b45b-4459-bd98-c29fe7f75e3f

https://www.globenewswire.com/NewsRoom/AttachmentNg/a1b2304b-a3c1-4d77-9ab6-121918aea911

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