Quartzy, a vertically integrated procurement platform for the life sciences industry, announced it has secured $23 million in financing from Avenue Capital Group and BroadOak Capital Partners.
The funding will support Quartzy’s next phase of growth, including continued investment in its software platform, supplier network, customer experience, and go-to-market capabilities. The company serves more than 3,000 organizations and provides access to over 10 million products from more than 1,000 suppliers through its Quartzy Shop.
Quartzy’s platform integrates inventory management, purchasing workflows, approvals, and supplier relationships into a single system, giving research teams greater visibility and control over procurement processes. The company’s vertically integrated model combines software, supplier partnerships, and fulfillment infrastructure to improve reliability and efficiency for life sciences labs.
The new capital is expected to further strengthen Quartzy’s position in the research procurement market, enabling faster fulfillment, improved pricing, and expanded platform capabilities for customers ranging from early-stage startups to large public companies.
Spinta Capital acted as placement agent on the transaction. Cooley LLP served as legal counsel to Quartzy, while DLA Piper LLP advised the lenders.
KEY QUOTES:
“When a reagent doesn’t show up, research stops. By owning the software, the supplier relationships, and the fulfillment infrastructure, we can guarantee the reliability, pricing, and accountability that labs depend on, and that fragmented solutions simply can’t deliver. This capital lets us go deeper on every layer of that platform, so our customers get faster fulfillment, smarter software, and better pricing on the products they use every day.”
Jayant Kulkarni, Co-Founder and Chief Executive Officer, Quartzy
“We have tracked Quartzy’s progress for many years and are glad to be partnered with them in their current phase of growth. The company has established a powerful position within the procurement of life sciences research tools, and it adds significant value to thousands of research labs and their suppliers; I can’t think of a more impactful investment that BroadOak and Avenue can make in our core market.”
Bill Snider, Partner, BroadOak Capital Partners
