SALT LAKE CITY, Feb. 24, 2022 (GLOBE NEWSWIRE) -- MasterControl, the developer of a digital platform that enables life sciences and regulated companies to develop, manufacture, and commercialize life-changing products, today announced key milestones for 2021 demonstrating significant momentum across business operations, product development, and customer growth.
With their industry leading quality management system (QMS), Quality Excellence, and modern manufacturing execution system (MES), Manufacturing Excellence, MasterControl ended 2021 with more than $100MM annual recurring revenue (ARR), representing over 30% YOY growth. The company has doubled revenue over the last three years to reach this milestone. Additionally, MasterControl surpassed 1,000 global customers in 2021.
“MasterControl is committed to guiding critical, regulated industries away from inefficient paper processes and providing solutions that help them achieve digital transformation,” said MasterControl CEO Jon Beckstrand. “Exceeding $100MM ARR in 2021 signals the demand life sciences companies have for digital quality management and manufacturing execution systems. This need is emphasized further coming off a pandemic where vaccines and treatments needed to get to market quickly with the highest quality.”
In addition to continued financial success, the company now has more than 100 customers using Manufacturing Excellence, a solution that provides a paperless production record and can be integrated with other enterprise systems, such as ERP, LIMS, and CRM. With a completely paperless manufacturing process, MasterControl Manufacturing Excellence customers have reduced data integrity errors by 90%, decreased batch review time by 75%, and reduced deviations by 25%.
The company also launched MasterControl Insights in October 2021. The new product is designed to help customers quickly evaluate data for better decision-making. Specifically built for quality and manufacturing professionals in highly regulated industries, MasterControl Insights provides users with the ability to analyze, visualize, and leverage quality and operational data to improve business outcomes. The product sets a powerful base for more advanced data analysis using artificial intelligence (AI) and machine learning (ML).
MasterControl’s employee headcount is also growing, with over 650 employees worldwide. MasterControl added several key leadership positions in 2021 to ensure the right talent is in place for continued growth.
“There is so much innovation in life sciences and it’s happening quickly,” said Beckstrand. “Our quality and manufacturing software is designed to be flexible and configurable to adapt alongside that innovation and help our customers bring life-changing products to market.”
For more information about MasterControl, visit www.mastercontrol.com.
About MasterControl
MasterControl Inc. is a leading provider of cloud-based quality and manufacturing software for life sciences and other regulated industries where compliance is critical. 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.
Media Contacts:
Jennifer Hurst
MasterControl
jhurst@mastercontrol.com
+1-801-560-9608
