ValGenesis, Inc., a market leader in enterprise Validation Lifecycle Management Systems (VLMS), today reported exceptional company growth, achieving 68% year-over-year revenue growth and 42% growth in new customers for the financial year ending February 28, 2022.
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As part of this growth, ValGenesis has achieved a number of major milestones, including:
Exceptional business performance – with revenue growth at 68%, ValGenesis is profitable with a positive cash flow and an operating profit of 23%. ValGenesis also raised an outside round of funding of $24M from Morgan Stanley in May 2021 to further accelerate product innovation and market expansion.
Employee growth: ValGenesis expanded its employee base by 47% to better help the world’s life sciences companies migrate from paper-based to digital validation processes. The company introduced an experienced team of financial, sales, marketing, and technical executives to lead this expansion.
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Increased customer base: ValGenesis’ proven enterprise validation lifecycle management platform currently supports more than 300 sites and 35,000 GxP systems and is used by 30 of the world’s top 50 life sciences companies. In addition to growing its new logo customer base, nearly half of the company’s current customers increased their use of ValGenesis VLMS by adding users, expanding to new sites, and introducing deeper functionality.
“We are encouraged by the accelerated demand for our patented digital validation technology by customers across the globe. Our SaaS based enterprise platform is built for the long-term and provides critical stability for life science customers as they navigate their Pharma 4.0 journey,” says Dr. Siva Samy, CEO and Chief Product Strategist at ValGenesis. “Our industry-leading product innovation, intimacy with customers, and significant investments in talent are components of a hugely successful business growth strategy that we implemented,” he stated.
“Expanding our employee base and capabilities in niche digital validation technologies helped us provide exceptional value and increased our ability to service current and future markets,” says Narayan Raj, Chief Operating Officer at ValGenesis. “ValGenesis is the trusted industry standard because of its relentless focus on product innovation and dedication to customer success. The future never looked brighter for ValGenesis and its customers, and we are extremely happy with our results from product, revenue, operations, and growth perspectives,” he concluded.