- Companies
- Greenlight Guru
Greenlight Guru Funding, Investors & Competitors
Greenlight Guru has raised $121M across 2 funding rounds, most recently a $120M undisclosed-stage round in June 2021.
Last Greenlight Guru funding round
$120M
Undisclosed stage · Jun 2021
Cumulative funding Greenlight Guru raised
$121M
across 2 funding rounds
Key investors in Greenlight Guru
JMI Equity
About Greenlight Guru
Greenlight Guru is a quality management system platform built for medical device manufacturers. Indianapolis-headquartered, the software handles risk management, document control, and CAPA processes under FDA 21 CFR Part 820 and ISO 13485 standards. Greenlight Guru serves over 1,000 companies including Medtronic and Boston Scientific, enabling electronic QMS with e-signatures and audit trails for faster submissions.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Greenlight Guru Funding History
Greenlight Guru has raised a total of $121M across 2 funding rounds.
Greenlight Guru's first fundraising round was a $1M seed round in February 2015. The most recent completed round was a $120M undisclosed-stage round in June 2021.
Greenlight Guru funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2021 | Undisclosed stage | JMI Equity (lead) | $120M | Greenlight Guru, a pioneer of the Medical Device Success Platform (MDSP), received a strategic growth investment from JMI Equity announced on June 15, 2021. The investment, reported as roughly or more than $120 million across multiple sources, aims to accelerate product development, expand capabilities across the patient-centric value chain, and support global growth. JMI Equity, a growth equity firm focused on software companies, led the round as the sole named investor. Greenlight Guru provides cloud-based quality management software tailored for medical device companies, helping navigate complex regulatory environments, manage risks across the product lifecycle, and transition from paper-based to digital processes. Key features include Halo, an AI and ML-powered recommendation engine for change management launched earlier in 2021. At the time, the company served over 500 medical device customers globally and had nearly doubled its headcount, earning recognition as a G2 Leader for ten consecutive quarters and a top employer by Inc. Magazine. The investment dwarfs prior Indiana venture deals and follows earlier funding like $2.25 million from angels and founders in 2017, plus state incentives. CEO David DeRam emphasized JMI's customer-first growth expertise. JMI partner Brian Hersman highlighted the platform's purpose-built design for medtech needs amid regulatory pressures. |
| Feb 2015 | Seed | - | $1M | - |
Who has invested in Greenlight Guru?
1 investor has backed Greenlight Guru across its funding rounds, including JMI Equity.
Lead investors include JMI Equity.
Greenlight Guru Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Greenlight Guru investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Greenlight Guru
Greenlight Guru has acquired 4 companies to date.
Last acquisition by Greenlight Guru was on July 23rd 2025. Greenlight Guru acquired Enzyme for undisclosed valuation.
Latest Acquisitions by Greenlight Guru
| Description | Enzyme is a software provider for life sciences firms seeking FDA approvals and regulatory compliance. Its platform automates submission processes, cutting consultant expenses by up to 50 percent and accelerating market entry. San Francisco-headquartered Enzyme serves biopharma companies, handling 10 percent of personnel-related regulatory tasks. Founded in 2018, the company processes submissions for 200+ therapeutics annually and integrates with eCTD formatting standards. | SMART-TRIAL is a Copenhagen-based eQMS platform for medical device firms. The software manages clinical data from design verification through post-market surveillance, ensuring compliance with EU MDR and FDA regulations via audit-ready documentation. | Vertex Intelligence is a data science consultancy applying artificial intelligence and machine learning to business challenges in predictive analytics, fraud detection, and operational optimization for clients in finance and retail. | CanvasGT is a Durham-headquartered software provider that equips medical device firms with cloud-based tools for early-stage design collaboration. The platform facilitates real-time sharing of 3D models, annotations, and feedback among engineers, clinicians, and regulators to accelerate prototyping. North Carolina-based CanvasGT serves clients in orthopedics, cardiology, and diagnostics sectors through its Canvas platform, which integrates with CAD software like SolidWorks and Siemens NX. |
| HQ Country | ||||
| HQ City | San Francisco, CA | Aalborg | Indianapolis, IN | Raleigh, NC |
| Deal Date | 23 Jul 2025 | 2 Jun 2022 | 24 May 2022 | 19 Jan 2022 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Greenlight Guru acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Greenlight Guru Competitors
Greenlight Guru competitors include listed companies like IQVIA, Veeva, IDEXX Laboratories and Roper Technologies, and private ones like Commure and Doctolib.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $16B | $3.4B | $44B | 3.4x | ||
| Publicly listed | $3.2B | $965M | $43B | 10.2x | ||
| Publicly listed | $4.3B | $1.5B | $40B | 8.9x | ||
| Publicly listed | $7.9B | $3.2B | $37B | 5.7x | ||
| Private | $200M | - | $7B | 35.0x | ||
| Private | $400M | - | $6.4B | 16.0x |
Greenlight Guru Public Comps
Greenlight Guru is still privately-owned, but its public comps include IQVIA, Veeva, IDEXX Laboratories, Roper Technologies, GE HealthCare, ICON plc, Pro Medicus, United Imaging, Glaukos and M3 Inc..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $16B | $3.4B | 3.6x | 3.4x | 17.2x | 14.8x | |||
| $3.2B | $965M | 11.1x | 10.2x | 36.9x | 22.4x | |||
| $4.3B | $1.5B | 9.5x | 8.9x | 27.1x | 24.9x | |||
| $7.9B | $3.2B | 6.1x | 5.7x | 15.2x | 14.6x | |||
| $21B | $3.7B | 1.8x | 1.8x | 10.1x | 10.0x | |||
| $8.3B | $816M | 1.9x | 1.9x | 19.2x | 11.3x | |||
| $186M | $147M | 66.6x | 62.7x | 84.4x | 77.6x | |||
| $2.1B | $367M | 5.5x | 4.8x | 30.7x | 26.9x | |||
This data is available for Pro users. Sign up to see all Greenlight Guru competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Greenlight Guru
| When was Greenlight Guru founded? | Greenlight Guru was founded in 2013. |
| Where is Greenlight Guru headquartered? | Greenlight Guru is headquartered in Indianapolis, IN, United States. |
| Is Greenlight Guru publicly listed? | No, Greenlight Guru is a private, VC-backed company. |
| How much funding has Greenlight Guru raised? | Greenlight Guru has raised $121M across 2 funding rounds. |
| What was Greenlight Guru's last funding round? | Greenlight Guru's last funding round was a $120M undisclosed-stage round in June 2021, led by JMI Equity. |
| Who are Greenlight Guru's investors? | Greenlight Guru's investors include JMI Equity. |
| Which companies are comparable to Greenlight Guru? | Companies comparable to Greenlight Guru include IQVIA, Veeva, IDEXX Laboratories, Roper Technologies, Commure and Doctolib. |
| How many companies has Greenlight Guru acquired? | Greenlight Guru has acquired 4 companies, including Enzyme, SMART-TRIAL, Vertex Intelligence and CanvasGT. |
See companies similar to Greenlight Guru
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




