GO PA Fund Invests In $5M Growth Financing Round In Rimsys, A World-Leading Provider Of Regulatory Information Management Software For Medical Technology Companies

Contact:
Sam Gorodetzer, sam@ceislermedia.com

PHILADELPHIA (Sept. 10, 2024) —

Global Opportunity Pennsylvania Fund II, L.P. (GO PA Fund) has recently invested in the Pittsburgh-based Rimsys, a company specializing in the development of regulatory information management (RIM) software for medical technology (medtech) companies.

Rimsys is a holistic and integrated Regulatory Information Management (RIM) software platform that is designed specifically for medtech companies. A 100% cloud-based solution, the Rimsys RIM platform helps medtech manufacturers centralize and organize regulatory information, collaborate with internal and external stakeholders, and manage regulatory projects so that they can strengthen global compliance and accelerate time-to-market.

“We’re thrilled to invest in Rimsys, which is revolutionizing how the medical tech industry does business,” said Aston Pierce, Investment Director for the GO PA Fund. “Their platform, which digitizes and streamlines complex processes so that manufacturers have a single source of truth and can focus on the work of getting their products on the market faster, exemplifies the spirit of what the GO PA Fund is all about: innovation, creativity, and ingenuity.”

Rimsys is helping global medtech leaders such as Johnson & Johnson, Siemens Healthineers, and Terumo remove regulatory information silos, automate time-consuming, manual processes, and reduce the risks of unexpected product expirations and recalls in a streamlined, compliant, and collaborative platform. Last year, Inc. magazine named Rimsys one of the fastest-growing private companies in America.

“We’re ecstatic to have support from GO PA Fund, Riverfront, and existing investors as we enter a new growth phase at Rimsys,” said James Gianoutsos, Rimsys Founder and CEO. “Our next phase of growth builds on our mission to increase accessibility to life-changing medical technologies with a focus on regulatory intelligence, submissions management, and UDI enhancements and thoughtfully incorporating advanced technologies like AI into our roadmap to meet growing demand and changing global regulatory requirements. We are grateful to work with firms that are committed to nurturing innovation in the Pittsburgh region, which has given so much opportunity to us.”

The investment in Rimsys marks the first GO PA Fund investment outside of the Philadelphia region since launching in fall 2023. Formed by Ben Franklin Technology Partners of Southeastern Pennsylvania, the GO PA Fund invests in technology-based ventures throughout the commonwealth. The Fund has raised $32 million in committed capital with the goal of advancing the competitiveness of Pennsylvania’s companies and universities in the global economy.

“Rimsys has a market-leading solution that helps medtech companies navigate the regulatory challenges that can delay or even disrupt innovation and market entry,” said Ven Raju, Managing Director of Riverfront Ventures and President and CEO at Innovation Works. “This investment, in collaboration with the GO PA Fund, underscores our collective commitment to supporting promising companies in the Commonwealth of Pennsylvania.”

GO PA Fund’s predecessor fund is Global Opportunity Philadelphia Fund I, L.P. (GO Philly Fund), previously created by Ben Franklin Technology Partners of Southeastern Pennsylvania to support its portfolio companies in southeastern Pennsylvania.

### 

ABOUT GO PA FUND

Formed by Ben Franklin Technology Partners of Southeastern Pennsylvania, with collaboration from Ben Franklin of Northeastern Pennsylvania, Ben Franklin of Central and Northern Pennsylvania, and Innovations Works from Southwestern Pennsylvania, the GO PA Fund invests in technology-based ventures throughout the Commonwealth of Pennsylvania. The GO PA Fund primarily invests as a follow-on fund to companies selected from Ben Franklin’s statewide portfolio of more than 600 burgeoning ventures throughout Pennsylvania. The Fund leverages Ben Franklin’s best-in-class multi-year/multi-round due diligence to ensure access to qualified and vetted opportunities while minimizing costs of investment. Visit us at gopafund.com.

ABOUT BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA

Ben Franklin Technology Partners of Southeastern Pennsylvania (“Ben Franklin”) is the Philadelphia region’s Partners with a Purpose. Nationally ranked among the most active seed and early-stage investors, Ben Franklin helps high-growth innovative enterprises plant and nurture their roots, creating both immediate connections and lasting economic growth. The nonprofit has supported more than 2,000 companies to deliver an impact of more than $5 billion and 32,000 jobs in the Philadelphia region. Whether in tech, life sciences, manufacturing, or industries and breakthroughs yet discovered, Ben Franklin works to raise the community of innovation higher, to benefit present and future generations of Pennsylvanians. Visit us at partnerswithapurpose.org, or follow us at @bftp_sep.

 ABOUT INNOVATION WORKS

Innovation Works is one of the most active early-stage investors in the country and the most active in Pennsylvania. Since its inception of the seed fund in 1999, Innovation Works has invested in over 760 companies that have gone on to raise $3.3 billion in follow-on funding. Portfolio companies have generated and retained over 20,000 jobs in Pennsylvania. Innovation Works is part of the Ben Franklin Technology Partners network, which has catalyzed economic growth over the last 30 years by providing access to capital and networks that help foster innovation and technology-based economic development in Pennsylvania. Learn more at innovationworks.org.

 ABOUT RIVERFRONT VENTURES

Riverfront Ventures is an early-stage venture capital fund based in Pittsburgh, PA focused on investing in early-growth stage tech companies. Learn more at riverfrontventures.com.

 ABOUT RIMSYS

Rimsys is improving global health by accelerating delivery and increasing availability of life-changing medical technologies. Rimsys Regulatory Information Management (RIM) software digitizes and automates regulatory activities, helping medtech regulatory affairs teams to plan more effectively, execute more quickly, and confidently ensure global regulatory compliance.  Rimsys is designed around medtech workflows and supports a full breadth of regulatory activities including registrations, submissions, UDI, essential principles, and standards management in a single, integrated platform. For more information, visit www.rimsys.io.

Next