Columbia University spinout Quartzy raises $17m in its series B round to recruit more staff and improve its lab management platform.
Quartzy, a Columbia University spinout that has created a lab management platform used by an array of universities, has raised $17m in its series B round, according to TechCrunch.
Investors in the round include Eminence Capital, Khosla Ventures, A Capital, accelerator Y Combinator’s Continuity fund and private investors.
Quartzy, which is also backed by Washington University, graduated as part of Y Combinator’s summer cohort in 2011. It has created a logistics management platform specifically tailored to scientific academic institutions.
This latest funding will be used to recruit more staff and increase what its platform can offer.
Quartzy raised $6.6m in series A capital in 2013 and $1.2m in its 2012 seed round. The seed round also featured Life Sciences Angel Network.
Jayant Kulkarni, co-founder of Quartzy, said: “We have the same challenges as most other marketplaces in that we have to go back and forth between the two sides of the marketplace as we build out our business.
“After our series A, we were aggressively focused on driving up demand and getting labs to start using Quartzy. With this new round, we are now turning our attention to building up the supply-side.”
