The round was led by Union Square Ventures (USV), with participation from O’Reilly Alpha Tech Ventures (OATV), and angel investors Esther Dyson, Jeff Hammerbacher, Ellen Levy, Kal Vepuri, Peter Lehrman, Rob Hutter, Lisa Gansky and Joshua Schachter. They joined existing investors Lerer Ventures, XG Ventures, Crosslink Capital, Yuri Milner, Maynard Webb, Ash Patel, and Sam Altman.
In conjunction with the funding, USV partner Andy Weissman joined Science Exchange’s board (read here his thoughts about the investment).
The company intends to use the funds to further expand their engineering team (read here) to grow their marketplace by adding solutions in new scientific disciplines including bio-chemistry, clinical services over the coming year.
Co-founded in May 2011 by Elizabeth Iorns Ph.D. (CEO), Ryan Abbott (Technical), Dan Knox, (Product, Operations), Science Exchange is a community marketplace for scientists to list, discover, access and pay for scientific services from institutions around the world. It allows research scientists to access experimental services by providing a way to search for an experiment type, view and compare providers, and choose a provider to work with (see here how it works).