TORONTO, Jan. 31, 2019 – ACTO Technologies Inc. emerged as a leader in life sciences commercialization by closing a strong calendar year 2018 with 184% revenue growth and a doubled customer base. This past year, ACTO secured global, innovative pharmaceutical, medical device, and dental companies like Kala Pharmaceuticals, Teleflex, and Kulzer Dental US as clients.
“At ACTO, we are on a mission to change healthcare by disrupting how drugs and devices are commercialized in the United States and globally,” said CEO Parth Khanna, “Our vision is for our customers to stand out as clear winners in the healthcare marketplace and set themselves apart in their commercialization efforts so that together, we can achieve better patient outcomes.”
In 2018, ACTO enhanced its product offering and launched the world’s first Commercialization Cloud for Life Sciences: A one-stop-shop sales and marketing platform that helps life sciences companies increase sales and maximize brand potential by combining mobile learning, sales enablement, video coaching, and event management in a single, intuitive app, and by giving leadership teams deep visibility into successful rep behaviors, field competency gaps, and customer engagement.
After successfully using micro-learning for over three years to improve message consistency, clinical understanding, and product training for life sciences companies, this past year ACTO transformed from a mobile learning platform to a full-suite Commercialization Cloud for Life Sciences.
This transition comes in response to customer demand for consolidation of sales, training, and marketing systems when drugs and devices enter the stream of commerce, the need to consolidate various commercial applications in the fast-growing non-CRM category, and ACTO’s three years of research analyzing field behaviors of over 5,700 top-performing reps and MSLs.
ACTO’s innovation along the commercialization journey is already driving strategic value for senior sales, marketing, training, and medical affairs’ leaders as they increase headcount and bring new products and indications to market.
The launch of the Commercialization Cloud is one among many of the company’s achievements this past year in product enhancements, hiring, fundraising, and partnerships.
Other notable achievements in 2018:
- ACTO raised over 1.8 Million USD to scale up its sales, marketing, and customer success functions. Top-tier VCs such as MaRS Investment Accelerator Fund, Extreme Venture Partners, Panache Ventures, Innovation Grade Ventures, Good News Ventures, Maple Leaf Angels, and Cogito Capital participated in ACTO’s Seed Round, followed by a Seed Extension Round that included a syndicate of notable individuals in the life sciences industry.
- ACTO helped a top 10 global medical device company digitally transform in under 12 weeks by successfully implementing the ACTO Commercialization Cloud and migrating thousands of digital training and marketing assets away from their legacy Learning Management System (LMS) and Content Management System (CMS).
- After partnering with ACTO, a medical device company had one of its best year of sales in the company’s 38-year history.
- ACTO strengthened its technology partnerships with Veeva Systems Inc., and Salesforce.com Inc., along with five Value-Added Resellers spanning the pharmaceutical, medical device, and dental industries.
- The first ACTO Innovation Summit in Fall 2018 validated the need for data consolidation as life sciences companies commercialize their products.
- ACTO doubled its team and welcomed industry veteran Jeff Ainsworth as VP of Global Sales as well as a new AI and Data Science team.
- ACTO’s Founders were selected as EY Entrepreneur of the Year 2018 finalists, CEO Parth Khanna was awarded an international 30 Under 30 Award, CTO Kumar Erramilli won the Trailblazer of the Year Award from ventureLAB and will continue his membership on the Forbes Technology Council, and ACTO won runner-up for Best Tech Work Culture at Tech in Motion’s Timmy Awards.
- ACTO filed its second patent for an AI-powered content recommendation engine designed specifically for the life sciences industry.