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Canada: Learning and enablement platform Acto secures $18m financing

Acto
Acto exec team (from left): Kapil Kalra (CCO),John Schultz (CSO), Alison Muller (CMO), Parth Khanna (CEO), Kumar Erramilli (CTO), Jenny Yeung (CFO).

Toronto-based Acto, a learning and enablement platform for life sciences, has raised $18 million in a funding round led by Questa Capital, a venture growth equity firm that invests in healthcare and life sciences software.

With this investment, Questa has joined Acto’s existing investors Resolve Growth Partners, Salesforce Ventures, Panache Ventures, and MaRS Investment Accelerator Fund.

Acto provides an AI-powered learning platform for life sciences and pharmaceutical companies, offering a range of features including R&D training, field coaching and compliance training. The business has experienced robust user and revenue growth, including a 500% increase in annual recurring revenue since 2018, according to the company.

Acto stated it will use the proceeds to accelerate growth, further scale and explore potential business and partnership opportunities.

This latest round brought Acto’s total funding to more than $30 million.

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