CAMBRIDGE, MA, Ovation.io, a provider of data and operations solutions to researchers, scientists and labs in the life sciences industry, has secured $1.85 million in funding.
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Ovation.io, (Ovation), makers of the fastest-growing clinical laboratory information and commercialization platform, today announced the close of an expanded $1.85M round of financing, initially led by StageDotO and Longfellow Ventures, as well as the completion of a partnership key to the development of its commercial platform. Ovation continues to evolve beyond a laboratory information management system (LIMS) to a full commercialization ecosystem that provides diagnostic labs with sample tracking, billing and reimbursement, reporting, document management, training management, client management, laboratory consulting services and business analytics. The company also announced that John Walker, Head of Core Data and Analytics, NIBR Informatics, Novartis, has joined its board of directors and that they have expanded their advisory panel to include Chad Robins, Rich Miller, and Vinay Gidwaney.
"We have shown that we can help diagnostic labs scale quickly by providing a platform that works across every element of a lab's operations. By continuing to add best-in-class partners in critical functional areas and drawing innovation from our expanding support network of industry experts, Ovation is helping our customers to change the role of the diagnostic lab in clinical trials and the demonstration of real world evidence," said Barry Wark, Chief Executive Officer of Ovation.
As part of the continued effort to enable clinical labs to manage their entire commercialization efforts in an out-of-the-box system, Ovation has signed a partnership with The Hunt Group, a respected provider of health information services. The Hunt Group delivers consolidated revenue cycle management, consulting and credentialing services. Technology integration between Ovation and The Hunt Group's expert billing consultation services will give Ovation customers a seamless exchange of billing data for a streamlined approach to maximizing reimbursements.
Ovation and the Hunt Group will leverage technology partnerships to expand the combined platform into a central ecosystem that provides diagnostic labs with all the tools needed to rapidly grow and excel above others in this highly competitive space.
Ovation is a scientific data company providing a cloud-based laboratory information system for Clinical Diagnostics that focuses on addressing challenges in the critical functional areas of Lab Management, Business Management, and Relationship Management. Beyond standard sample and workflow tracking, Ovation is reimagining the central role a LIMS or LIS plays in the overall ecosystem of a clinical diagnostics laboratory. Using a modern infrastructure with seamless integrations of best-in-class partners and consultants, Ovation provides labs with an out-of-the box laboratory management experience that scales with each individual lab's needs. Ovation's flagship product, Ovation Diagnostic, is the central component of this rapidly expanding laboratory commercialization platform. More information at www.ovation.io.