Science Exchange, a Palo Alto, CA-based platform for outsourced research and development (R&D), raised $28m in Series C funding.
The round was led by Norwest Venture Partners with participation from existing investors Union Square Ventures, Maverick Capital, and Collaborative Fund. As part of the Series C, Casper de Clercq, General Partner at Norwest, will join the company’s board.
The company, which has raised more than $58 since its inception in 2011, intends to use the funds to continue its expansion beyond biopharma into other industries where scientists are faced with R&D outsourcing challenges including agrosciences, cosmetics, aerospace and industrial chemicals and hire across product, engineering, sales, marketing, and customer success.
Led by CEO Elizabeth Iorns, Ph.D., Science Exchange allows researchers to secure access to more than 2,500 of the world’s premier outsourced R&D service providers, qualified contract research organizations (CROs), contract manufacturers (CMOs), academic labs, and government facilities. Thousands of scientists have used the platform to support their pursuit of scientific discoveries, including those from 10 of the top 20 biopharma companies.
Additionally, the Science Exchange enterprise program enables organizations to consolidate research R&D outsourcing spend.