Greenlight Guru announced that it has received a roughly $120 million investment from JMI Equity to support further development and sales growth for its medical device quality management software.

The news comes half a year after Indianapolis-based Greenlight Guru launched its AI-powered Halo for Change Management, which provides recommendations of items impacted by a change order and real-time visibility to discover, assess and manage the impact of a change.

“We listened to the needs of the medical device industry and chose JMI Equity as a strategic partner because they are experts at achieving growth by putting the customer first,” Greenlight Guru CEO David DeRam said in a news release posted yesterday.

“We’ve been extremely deliberate when taking on investment because we wanted to ensure we found the right partner for us and our customers. This partnership will allow us to accelerate the value we provide to our customers as we remain committed to helping medical device companies get their life-changing products to patients and achieve our mission of improving the quality of life,” DeRam said.

Greenlight Guru presently boasts more than 500 medical device company customers globally