Labviva, a leading AI procurement platform for life sciences, announced the closing of its $25 million Series B, bringing the total funding to $55 million. The round was led by 53 Stations, with continued participation from Biospring Partners, B Capital Group, and Glasswing Ventures. And the funding reflects the company’s boom growth and escalating demand in Biopharma for automated supply chain and procurement solutions. In connection with the funding round, 53 Station’s co-founder and Managing Partner, Jason Pritzker, will join Labviva’s Board of Directors.
In the last year, Labviva doubled its revenue and tripled transactions on its platform. And to capitalize on this momentum, the company will use the funding to accelerate new product development, bolster marketing and customer support, and expand internationally.
Labviva accelerates the pace of life science research by connecting suppliers, purchasing departments, and scientists with AI. And by providing the most advanced technology for automating life science procurement, the company delivers supply chain transparency, transforming how laboratories manage purchasing, supply chain tracking, and inventory replenishment. Labviva enables customers to maintain absolute control over their own data, which is why many of the world’s leading pharmaceutical companies and research universities already trust and rely on Labviva to modernize their laboratory operations.
The Labviva platform aggregates 90% of all life science suppliers, providing instant access to the most diverse pool of sellers, ranging from major suppliers to small, local, and green-certified businesses. So customers can quickly compare products and prices from different vendors based on company-specific pricing and rich product content, saving hours of manual research, reducing R&D costs, and avoiding gaps in inventory replenishment. And Labviva also helps customers ensure contract compliance while meeting small business and corporate sustainability objectives.
Labviva’s platform operates as a standalone solution or directly integrates into leading procurement systems, such as SAP Ariba, JAGGAER, Oracle Procurement Cloud, Microsoft Dynamics 365, and Coupa.
KEY QUOTES;
“Successful AI companies deliver enormous efficiencies with the right balance of speed, scale, and human-AI collaboration. This year, Labviva did just that, transitioning from the industry’s ‘best kept secret’ to the go-to resource for accelerating the pace of science. Labviva is transforming supply chain and procurement for life sciences and I’m delighted to help guide and support their next phase of growth.”
– Jason Pritzker
“We’ve been laser focused on building close customer and supplier relationships and deploying solutions that drive instant, long-term results. This strategy paid off because today, we’ve reached an inflection point that positions Labviva for massive growth. With 53 Stations’ deep operational expertise, support from The Pritzker Organization, and continued backing from other investors, we plan to thrive by fueling new innovations, driving customer success, and entering new markets.”
– Siamak Baharloo, CEO & Co-Founder, Labviva
