The chief executive officer of Indianapolis-based Greenlight Guru says finding the right partner to fuel its strategic growth was critical. The company this week received a more than $120 million investment from Maryland-based JMI Equity and David DeRam says in addition to furthering product development, the funding will be used to add jobs. He says over the last several years, more than 200 companies reached out to Greenlight Guru, but JMI was the strongest fit to help the company achieve its mission.
In an interview with Inside INdiana Business, DeRam said the funding is the culmination of years of hard work.
“We’ve spent so much time building this team,” DeRam said. “We’ve been so thoughtful about building this team and it’s a really extraordinary and experienced team and we’ve built this big vision for what the medical device industry can become with the right technology and the right services and I think the scale of that vision now is accelerated for what we can accomplish and the timeline we can accomplish it on.”
Greenlight Guru has developed a software platform to help medical device companies navigate the global regulatory landscape. He says while many businesses struggled during the pandemic, his company was able to step up.
“I told our team that last year was the year that the world needed us,” he said. “There were so many companies that were pitching in and helping with the global pandemic and for us to be able to lean in and really help those companies to deliver innovations and technology and services for companies that were directly involved with the pandemic, it was an opportunity for us to deliver on our mission to improve the quality of life.”
Greenlight Guru counts more than 500 medical device companies around the world as its customers.
DeRam says the funding is the culmination of years of hard work.