Rimsys Inc., provider of the leading Regulatory Information Management (“RIM”) software designed specifically for medical technology (“MedTech”) companies, announced today it closed a $1.5 million investment round, led by Allos Ventures.
The financing round will support Rimsys’ penetration of the MedTech RIM market through planned expansions of its product offering, sales, and marketing execution. Rimsys serves an expanding list of enterprise customers, including industry leaders such as Johnson & Johnson and Terumo.
“Complex regulatory challenges create barriers that delay product time-to-market, stall revenue growth and increase exposure to compliance risks for even the most experienced MedTech companies, said James Gianoutsos, founder & president of Rimsys. “Regulatory teams are in need of digital solutions that provide more efficient and compliant ways to commercialize their products worldwide. Rimsys offers the only holistic RIM platform, built upon decades of MedTech experience, that consolidates all the critical functions of regulatory affairs, making global product registrations, standards management, essential principles/GSPR management, and regulatory intelligence easy.”
Rimsys’ solution seamlessly integrates with MedTech manufacturers’ existing quality management systems, product lifecycle management systems, and sales and distribution software systems. Rimsys’ robust digital platform, with its intuitive user interface and global intelligence, enables its customers to meet market entrance requirements and grow internationally. John McIlwraith, managing director at Allos Ventures will join Rimsys’ board of directors.
“The maze of global regulations covering medical technology is growing more complex and frequently results in dead ends and delays that can greatly impact commercialization of these products,” said McIlwraith. “This financing round will enable the company to further accelerate its momentum with large enterprise customers.”