ZenQMS Secures Significant Minority Growth Investment from Susquehanna Growth Equity

First Institutional Investment for Leading Life Sciences eQMS Provider will Support Continued Growth and Enhance Offerings for Global Customers

ARDMORE, PA.--(BUSINESS WIRE)--ZenQMS, a leading provider of cloud-based electronic quality-management software (eQMS) as a service to hundreds of life sciences companies around the world, today announced it has secured a significant investment from Susquehanna Growth Equity (“SGE”), an entrepreneur-centric growth equity firm exclusively focused on software and information services. This partnership is the first institutional investment for ZenQMS, which has been self-funded since inception in 2010. Financial terms of the transaction were not disclosed.

ZenQMS’ unique, disruptive approach is organized around a platform that is easy to acquire, implement, validate and use for life sciences companies of all sizes. The ZenQMS founders originated from regulated good manufacturing practice environments (“GMP” or “GxP”) and experienced firsthand the frustration and dangers of managing critical-to-quality activities with manual/paper systems, especially in complex regulatory environments.

Panos Boudouvas, Co-founder and CEO of ZenQMS, commented, “We started ZenQMS because existing solutions were too expensive and too complex. Our approach stresses simplicity, proactive support, scalability, and a truly unique pricing model that doesn’t penalize companies for growth, making it easy for companies to leave paper-based systems behind. I am so grateful for our incredibly kind and hardworking ZenQMS team and the support of our clients who helped us build this fantastic company."

The ZenQMS platform includes modules for managing documents, training, issues/CAPAs, change controls and audits & supplier qualifications. The platform meets all 21 CFR Part 11/ Annex 11 and relevant GxP and ISO requirements for small-to-large-scale life science companies including: biotech and biopharma companies, Clinical Research Organizations (CROs), Contract Development and Manufacturing Organizations (CMO/CDMOs), medical device companies, labs, packaging and logistics companies, software developers, commercial spinouts, and consumer products organizations. The platform supports more than one hundred thousand users spanning more than 150 countries.

“Panos and his talented team have quietly built a multi-faceted, client-focused solution for early-stage life science companies as the industry continues to move from paper-based tools to purpose built eQMS. The company’s low customer churn and ability to support both small startups and blue chip commercial GxP entities clearly stands out. We are excited to partner with a fellow Pennsylvania-based entrepreneur and the entire ZenQMS team as they seek to further accelerate growth and disrupt the QMS landscape,” said Aneesha Raghunathan, Vice President at Susquehanna Growth Equity.

Mr. Boudouvas added, “When we started down this path we were more interested in what a partner could bring to the table beyond capital. We wanted a group who appreciated our unique approach and long-term vision for supporting the life sciences community and who would bring the firm’s resources to bear where it makes the most sense. SGE is a perfect match in this regard, and we are excited to have them on our team.”

About ZenQMS

Headquartered in suburban Philadelphia, ZenQMS is a 100% cloud-native application helping Life Sciences companies that want an easy-to-use, affordable way to maintain compliance with GxP and ISO requirements. ZenQMS offers a unique approach to client engagement and pricing, including turnkey implementation and customer-friendly annual fee that includes access to the whole platform and scales as clients grow. The software stresses simplicity and versatile configuration options to meet a client’s unique needs, and comes with in-house support at no additional cost. Clients don't need an IT team or large QA team to purchase, implement, or manage ZenQMS. Learn more at www.zenqms.com.

About Susquehanna Growth Equity

Susquehanna Growth Equity, LLC (SGE) is an entrepreneur-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, internet and information services companies. The firm has invested over $2.5 billion in 75+ market-leading technology companies over the last 15 years including HMP Global, MMIT, iContracts, MediSpend, and has portfolio companies across the US, Canada, Europe, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com.