Labviva, a Boston, MA-based AI-driven life sciences digital marketplace, raised $20M in Series A funding.
The round, which brought the total amount raised since inception to $30M, was led by Biospring Partners, with participation from existing investors Senator Investment Group, B Capital Group, and Glasswing Ventures. In addition, Jennifer Lum, Co-Founder & Managing Partner, Biospring Partners will join the Board of Directors at Labviva.
The company intends to use the funds to accelerate deployment of its platform at a number of global pharmaceutical and academic customers.
Led by CEO Siamak Baharloo, Labviva is a life sciences digital marketplace that connects researchers with suppliers of reagents, chemicals, and instrumentation in a platform that is built for scientists by scientists. Suppliers can manage their content of their products, and products are mapped into scientific applications, techniques and protocols. Its B2B e-commerce marketplace enables life sciences and research organizations to manage organizational purchasing and procurement to accelerate the pace of life science research. Labviva provides access to thousands of suppliers and over 15 million products, supports custom user, department, and location approval structures with notifications, and tracking and reporting tools to provide real-time visibility by integrating directly with buyer’s internal and third-party software solutions.
The platform integrates directly with leading procurement systems such as SAP Ariba, JAGGAER, Oracle Procurement Cloud, Microsoft Dynamics 365, and Coupa, to shorten implementation times and reduce the risk of research delays.
FinSMEs
27/03/2023