Labviva, a Cambridge, Mass.-based SaaS application for healthcare procurement, raised $8M in seed funding.
The round was led by Senator Investment Group, with participation from B Capital Group | Ascent and Glasswing Ventures.
The company intends to use the funds for further development of the platform with new product lines, including investment in operations and customer success platforms.
Founded in 2017 by Siamak Baharloo, CEO, Aaron Miramontes, and Nicholas Rioux, Labviva is an enterprise gateway marketplace (EGM) that integrates with major procurement solutions such as SAP Ariba, JAGGAER, Oracle Procurement Cloud, Microsoft Dynamics 365, and Coupa. Organizations like pharmaceuticals and research institutions can coordinate their demand with the thousands of outside vendors who fulfill on the supply side. In addition, the platform provides insight about the products and allows customers to have access to advanced analytics.
Suppliers can easily manage their content of their products, and products are mapped into scientific applications, techniques and protocols.