Here at Factored Quality, we’re celebrating a successful 2023. Our team and product have grown considerably over the last 12 months, united behind our goal to save customers time, money, and unnecessary headaches with QC.
This year’s successes — led by our $1.5M up round from Vinyl Capital and Pari Passu Venture Partners (PPVP) — ensure we are well-positioned to keep expanding our QC, testing, and compliance partnerships. Looking ahead to 2024, we’re eager to take our software and services to the next level.
Growth, growth, and more growth
The growth we experienced in 2023 was exactly what we hoped for when the year began.
We saw a huge increase in demand for our product and services and worked extremely hard to make sure we could meet and exceed our customers expectations. With an 3x+ increase in bookings, customers and revenue, we found ourselves scaling our own operations to accommodate.
We more than doubled our inspector and auditor network to help our customers run their operations in 30+ countries and work with brands of all sizes. Our customers range from new companies entering the market, scaling startups, and enterprise brands that have been around for decades.
Investing in world-class talent for every department
This year many new faces joined the Factored Quality team — our headcount grew by 3x! From product and engineering to marketing, operations, and sales, we’ve sought the best blend of supply chain knowledge and customer service experience:
- Andrew Hoagland became our Head of Revenue in March and quickly leveraged his wealth of experience from Nextmv and RJMetrics to build our Sales and Marketing teams.
- Dima Doronin, formerly Founding Engineer at Smartrr, joined as Engineering Lead to scale up our product development and engineering processes.
- Graham Blanche joined as Head of Product after 4+ years as CTO of Camp and will lead our expanding product efforts.
- Sam Felderman brings 7+ years of hands-on QC experience at Glossier and First Quality Enterprises into his Customer Success Manager role.
We’ve continued to invest in operations support in the United States and Asia, ensuring that brands and inspection partners create top-quality products and customer experiences.
“I've been in the shoes of the brands we're helping. When people come to us with problems, I genuinely understand where they're coming from.” – Sam Felderman, Customer Success Manager at Factored Quality
Delivering innovative product improvements that move the needle
This past year we enhanced our product with three noteworthy improvements to unify manufacturing, product quality, and sales data:
- A PDF data converter to bring historical QC data online
- A new QC analytics dashboard with advanced tooling for brand data
- An external API to extract, convert, and export data to outside tools
We have a targeted list of improvements we want to make in 2024, and the faster pace of development (thanks to our expanded engineering team) has us excited to continue rolling out features that simplify every step of the QC process.
Our dedication to making life easier for customers extended further in 2023 thanks to crucial partnerships, such as Anvyl and Portless. Faster inspections, fewer delays, and simpler data management help brands make business decisions efficiently and confidently.
Empowering customers to control their product’s quality throughout every step of the supply chain
Our product and services have continued to improve — largely thanks to valuable feedback from customers like Brooklinen, Nori, and Jolie. Working across various industries gives our team first-hand experience with how different brands and products define quality for their customers.
This vital perspective bridges the gaps between brands, inspection agencies, and testing labs — making manufacturing easier and improving visibility throughout the supply chain. We can’t wait to see how our network of brands and partners grows throughout the new year.
“When we have a deep understanding of our manufacturing capabilities and standards, we can become experts in the space and build new products faster and more confidently.” – Monica Campbell, Senior Product Manager R&D at Misen
Ready to learn more about how Factored Quality can support your QC, testing, or compliance needs? Reach out to our team today – and sign up for our mailing list to keep up with our latest product and feature rollouts!