MasterControl Announces Annual Recurring Revenue Milestone
SALT LAKE CITY, Nov. 18, 2021 (GLOBE NEWSWIRE) -- MasterControl, a global provider of software solutions for life sciences and other regulated industries, today announced it has reached $100 million in annual recurring revenue (ARR), led by their signature software solutions, Quality Excellence and Manufacturing Excellence, as well as the recent launch of MasterControl Insights.
MasterControl is experiencing one of its strongest ARR growth rates at 28% year-to-date over this same period last year. Just this year, more than 120 companies have chosen MasterControl as their quality and manufacturing systems partner and, to date, nearly half of the top 50 pharmaceutical and medical device companies use MasterControl solutions. Additionally, the company continues to expand globally with significant growth in the EMEA and APAC regions.
MasterControl’s manufacturing solutions are used by leading COVID-19 vaccine developers and manufacturers ad have been integral to the scale and delivery of these advanced therapeutics.
Last month, the company launched MasterControl Insights, designed to help customers harness their data. Specifically built for quality and manufacturing professionals in highly regulated industries, MasterControl Insights provides users with the ability to analyze, visualize and action quality and operational data and sets a strong base for more advanced data analysis using artificial intelligence (AI) and machine learning (ML).
“It has been a tremendous year as the industry adopts MasterControl solutions that directly impact their ability to bring products to market sooner,” said Jon Beckstrand, CEO of MasterControl. “It’s an exciting time to be part of industry leading innovation at MasterControl and I anticipate much more to come.”
MasterControl has experienced several years of double-digit growth with its industry-leading core quality management system (QMS) and rapid adoption of its new manufacturing execution solution. Over 1,000 customers worldwide trust MasterControl to help them maintain compliance.
For more information about MasterControl, please visit www.MasterControl.com.
MasterControl Inc. is a leading provider of cloud-based quality and compliance software for life sciences and other regulated industries. Our mission is the same as that of our customers – to bring life-changing products to more people sooner. The MasterControl Platform helps organizations digitize, automate and connect quality and compliance processes across the regulated product development life cycle. Over 1,000 companies worldwide rely on MasterControl solutions to achieve new levels of operational excellence across product development, clinical trials, regulatory affairs, quality management, supply chain, manufacturing and postmarket surveillance. For more information, visit www.mastercontrol.com.
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