Life sciences tech leader triples headcount, announces 5X ARR boost
TORONTO, Jan. 28, 2021 /PRNewswire/ – ACTO, the Omnichannel Education Platform for Life Sciences, today announced major growth across a range of key metrics during 2020, including a 500% increase in annual recurring revenue since 2018.
During the global pandemic, ACTO has cemented its position as an essential partner for life sciences companies seeking to accelerate digital transformation and double down on remote engagement, closing out Q4 2020 with record million-dollar deals signed. Continued rapid adoption of its solution, which educates and engages learners across the care continuum through unified educational experiences and journeys, is expected in 2021 as the pandemic prompts a long-term shift toward virtual learning.
Among the momentum indicators announced today:
- ACTO’s year-end ARR was up 197% from 2019, and up 500% from 2018
- ACTO now employs over 100 team members globally, nearly triple its 2019 headcount. In particular, ACTO grew its product development and engineering team from 19 to 65 people as the company continues to enrich and optimize its SaaS platform. ACTO also more than doubled the size of its customer success team to support its rapidly growing roster of clients.
- ACTO has doubled its customer base since 2018, posting 59% growth in 2020
ACTO’s growth accelerated following an $11.5 million Series A round in August 2020, led by Resolve Growth Partners with participation from Salesforce Ventures. Within 50 days, ACTO made two strategic acquisitions to bolster its mobile learning and patient-facing education capabilities, building on its promise to deliver true omnichannel education for learners across the care continuum. In 2020, ACTO entered into more than 10 strategic partnerships with key players in the life sciences tech space, dramatically expanding the company’s ecosystem of premium services provided to drug and device makers.
The past year also saw ACTO take home a slew of industry recognitions for the company’s impactful work in the life sciences community and tech leadership. Among the company’s honors this year:
- ACTO’s Triple A Initiative, in collaboration with Axiom and AstraZeneca, was the Life Sciences Trainers & Educators Network’s Industry Partnership Winner
- Co-founders Parth Khanna, Kumar Erramilli, and Kapil Kalra won PM360 Magazine’s ELITE Disrupter Award
- ACTO’s Triple A Initiative was a finalist in the “Most Valuable Collaboration” category at Pharma Awards USA 2020 by Reuters Events, alongside other distinguished companies like Biogen, Servier and Takeda.
- ACTO won a coveted Brandon Hall Group bronze award for “Best Advance in Mobile Sales Enablement and Performance Tools”
- ACTO was recognized on the Best Workplaces for Start-ups in Canada list, and received a Regional Best ‘Tech for Good’ Timmy Award from Tech in Motion Events
“We were fortunate to deliver tremendous growth during a year of unprecedented turbulence,” said Parth Khanna, CEO and co-founder of ACTO. “This is a testament to our commitment to building the best and most comprehensive suite of education and engagement tools for life sciences companies. We’re committed to building on this success in 2021, and helping life sciences companies to position themselves as the connective tissue between technology, treatment, and patient outcomes.”
In 2020, ACTO also launched a one-of-a-kind industry podcast, The Launchpad, which highlights change agents working to disrupt life sciences with new strategies for commercial success. The podcast’s first 7 insight-packed episodes have garnered more than 1,200 views on YouTube and featured exclusive interviews with notable influencers from top life sciences companies such as AstraZeneca, Monaghan Medical, ExplORer Surgical, and more.
Published on PR Newswire