Life sciences learning and enablement platform ACTO nabs $18m

Quest Capital led the round.

  • ACTO’s other backers include Resolve Growth Partners, Salesforce Ventures, Panache Ventures, and MaRS Investment Accelerator Fund1
  • The capital infusion will be used for growth, to scale ACTO and explore potential business and partnership opportunities
  • Questa invests in expansion-stage healthcare companies

ACTO, a Toronto-based omnichannel learning and enablement platform for life sciences, has raised $18 million in financing. Questa Capital led the round.

ACTO is also backed by Resolve Growth Partners, Salesforce Ventures, Panache Ventures, and MaRS Investment Accelerator Fund1.

The capital infusion will be used for growth, to scale ACTO and explore potential business and partnership opportunities.

On the funding, Parth Khanna, CEO of ACTO, said in a statement: “The rapid growth of our customer community demonstrates the industry’s interest and hunger for a new way of delivering commercial learning and development. We are thrilled to have Questa Capital join us on this journey and look forward to delighting our customers with innovative solutions, such as our recently announced conversational assistant LAICA™, to make commercial learning in Life Sciences easier and more engaging.”

The current financing brings ACTO’s total invested capital to more than $30 million. ACTO continues to experience robust user and revenue growth, including a 500 percent increase in annual recurring revenue since 2018.