Venture Capital News: Quartzy Sparkles with $4M in Series A
PALO ALTO, CA, Popular and free lab management platform used by more than four thousand labs around the world, announced today that it had raised $4M in Series A financing.
Quartzy, the popular and free lab management platform used by more than four thousand labs around the world announced today that it had raised $4M in Series A financing.
Khosla Ventures led the round with participation from David Sacks, Jeremy Stoppelman, Sam Altman, Sreeram Veeragandham and others. Prior investors, Lerer Ventures, also participated in this round.
Quartzy has grown rapidly over the past year, quadrupling the number of researchers and lab managers using the site to manage their labs. With the new capital, the company will focus on acquiring top talent, further refining the features on its website, developing a mobile offering and accelerating growth.
"Quartzy serves as infrastructure for research labs in the academic, biotechnology and pharmaceutical sectors. This additional round of capital will allow us to rapidly accelerate the pace at which we can develop the product," said Jayant Kulkarni, Quartzy's founder and CEO.
"Before Quartzy, labs used Excel spreadsheets to manage their inventories, and researchers used email to submit order requests to their lab managers. With Quartzy labs can host their inventories in the cloud and submit order requests to lab managers online. Lab admins can approve or deny requests through the web interface creating an audit trail. Quartzy liberates researchers from mundane administrative tasks so that they can focus on their research."
Quartzy is free for researchers to use.
"I look for opportunity to revolutionize large markets or fix broken markets," said Keith Rabois an investor with Khosla Ventures. "The global market for laboratory supplies is $30B+. Quartzy has built a lab management platform that is invaluable to research labs and provides an effective way for manufacturers to reach their customers."
Quartzy works with suppliers to host their catalogs to ensure that all relevant technical information is current and easily accessible to its members. With an engaged community, Quartzy represents a novel platform for suppliers to get product feedback from researchers all over the world and a way to promote their offerings effectively.
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