Quartzy has successfully raised $22.2 million over three funding rounds, with backing from Y Combinator and other top investors. The platform offers comprehensive lab management solutions, streamlining inventory, purchasing communications, and ordering processes for small- and medium-sized R&D organizations.
Keep reading to explore the intricacies of Quartzy's fundraising journey and the investors backing this innovative platform.
What Is Quartzy?
Founded by Jayant Kulkarni and Adam Regelmann, Quartzy is headquartered in the San Francisco Bay Area. The company specializes in providing lab management solutions for small- and medium-sized R&D organizations.
Quartzy's platform helps manage inventory, streamline purchasing communications, and consolidate ordering processes. It serves thousands of labs at pharmaceutical and biotechnology companies, hospitals, and academic centers.
With a team of 51-200 employees, Quartzy continues to innovate in the lab management space, enhancing operational efficiency and accelerating scientific discovery.
How Much Funding Has Quartzy Raised?
- Seed Round
- Amount Raised: $1.2 million
- Date: December (year not specified)
- Lead Investors: Life Sciences Angel Network
- Motivation Behind the Round: To support the development and growth of Quartzy's free web app designed to help life scientists manage their labs, inventories, and orders.
- Series A Round
- Amount Raised: $4 million
- Date: July 2013
- Lead Investors: Khosla Ventures
- Motivation Behind the Round: To help scientists manage their lab inventory more efficiently and target the specialized market of research scientists and lab managers.
- Series B Round
- Amount Raised: $17 million
- Date: January 2016
- Lead Investors: Eminence Capital
- Motivation Behind the Round: To build up the supply side, recruit executive talent, onboard new suppliers, and accelerate deals with leading companies.
Quartzy has raised a total of $22.2 million in funding. The current valuation is $50 million (~estimated).
Key Investors
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since its inception. It is known for its intensive three-month programs that help startups refine their business models and pitch to investors.
- Investment Focus Areas: Technology startups, various industries.
- Notable Investments: Dropbox, Airbnb, Stripe.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that provides funding for early-stage companies. Founded by Vinod Khosla, it focuses on impactful and innovative technologies.
- Investment Focus Areas: Technology, healthcare, clean energy.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Eminence Capital
- Details: Eminence Capital is a $6 billion, stage-agnostic fund based in New York. The firm often takes large positions in public companies, particularly in the life sciences sector.
- Investment Focus Areas: Life sciences, public companies.
- Notable Investments: Not specified.
- Life Sciences Angel Network
- Details: Life Sciences Angel Network is a New York-based investment group. It focuses on funding startups in the life sciences sector.
- Investment Focus Areas: Life sciences, scientific research, development.
- Notable Investments: Not specified.
- YC Continuity Fund
- Details: YC Continuity Fund is an investment fund associated with Y Combinator. It aims to support startups that have graduated from the Y Combinator accelerator program.
- Investment Focus Areas: Startups, Y Combinator alumni.
- Notable Investments: Not specified.
What's Next for Quartzy?
Quartzy stands at the cusp of significant growth opportunities. With a robust $17 million Series B financing, the company aims to expand its marketplace offerings and build up the supply of lab equipment. Partnerships with academic institutions and a potential major retail deal could further amplify its reach. The increasing demand for cost-effective lab supplies and the rise of digital inventory management tools present a fertile ground for Quartzy's expansion.
Future fundraising seems likely, given the involvement of high-profile investors like Eminence Capital. This financial backing could support further development and scaling of Quartzy's platform. However, challenges such as balancing supply and demand, recruiting executive talent, and navigating regulatory issues in the life sciences sector could pose hurdles. Despite these challenges, Quartzy's strategic moves and industry trends suggest a promising trajectory ahead.
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