Qualio, the cloud life sciences company founded by Corkman Robert Fenton, has raised $50m (€40.8m) in a Series B funding round.

It brings to $63m (€51.4m) the total raised by the pharmacist who now runs the online quality management firm from San Francisco.

The funding round was led by Tiger Global and joined by Menlo Ventures. The company is also funded by Dublin-based Frontline Ventures.

Qualio provides a ‘quality management platform’ to more than 250 life sciences companies, including therapeutics makers, medical device makers and clinical research organisations. The platform allows such companies to bring their products to market quicker.

The company was founded in Ireland in 2012. It maintains an office in Dublin.

The new funding round comes less than a year since Qualio raised an $11m (€9m) Series A round.

“With Qualio, life sciences companies can safely scale and accelerate availability of life-saving products,” said Robert Fenton, founder and CEO of Qualio. “Modern-day life sciences companies need state-of-the art, easy-to-use tools to address what consumers have come to expect — to be able to trust that the products we put in or on our bodies are safe and effective and will work consistently to improve health and well-being.”

Qualio has reported annual revenue growth of over 260pc and a tripling of its headcount.

Its customers include organisations such as Medable, Paula’s Choice Skincare, Proscia and Ginkgo Bioworks.

The company is now hiring, hoping to triple its global workforce for the end of this year.

“Qualio has proven its ability to support life sciences organisations in bringing life-saving products to market faster without jeopardising quality,” said John Curtius, a partner with Tiger Global. “Their modern, scalable, and user-friendly software married with their best-in-class services represents the future of accelerated product development in the highly regulated life sciences sector.”