Labviva Raises $25 Million in Series B Funding Round

Labviva, an AI-driven procurement platform for life sciences, has successfully raised $25 million in a Series B funding round. This latest investment brings the company’s total funding to $55 million.

The funding round was led by 53 Stations, with continued participation from Biospring Partners, B Capital Group, and Glasswing Ventures. As part of the investment, Jason Pritzker, Co-Founder and Managing Partner of 53 Stations, will join Labviva’s Board of Directors.

Labviva plans to utilize the new capital to accelerate product development, enhance marketing and customer support, and expand its international presence. Over the past year, the company has doubled its revenue and tripled transactions on its platform, reflecting a growing demand for automated supply chain and procurement solutions in the biopharma sector.

The company’s platform aggregates 90% of all life science suppliers, offering instant access to a diverse pool of sellers, ranging from major suppliers to small, local, and green-certified businesses. This enables customers to 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.

Labviva’s platform operates as a standalone solution or integrates directly into leading procurement systems, including SAP Ariba, JAGGAER, Oracle Procurement Cloud, Microsoft Dynamics 365, and Coupa. This flexibility allows organizations to seamlessly incorporate Labviva’s capabilities into their existing workflows.

The life sciences sector has increasingly adopted AI to improve business processes such as research, legal, and drug discovery and development. Labviva enhances research operations by applying AI to drive efficiencies in labs, ultimately saving scientists time and money while speeding research innovation.

With this latest funding, Labviva is well-positioned to continue its growth trajectory and further its mission to transform supply chain and procurement processes in the life sciences industry. The company’s focus on building close customer and supplier relationships and deploying solutions that drive instant, long-term results has been central to its success.