What is LabConnect?
LabConnect specializes in offering a comprehensive suite of services designed to streamline the logistical and analytical demands of clinical trials. Their offerings encompass routine testing, kit building, sample management and tracking, data management, biorepository, and scientific functional outsourcing. The company's unique value proposition lies in its ability to connect high-quality samples to accurate data, with customizable solutions tailored to the specific needs of clients and their clinical studies. By integrating state-of-the-art technology with world-class laboratories and facilitating access to major and emerging markets, LabConnect positions itself as a preeminent provider for central laboratory and preclinical through Phase IV clinical development requirements.
How much funding has LabConnect raised?
LabConnect has raised a total of $30.5M across 3 funding rounds:
Private Equity
$4M
Series A
$24.5M
Debt
$2M
Private Equity (2016): $4M with participation from BroadOak Capital Partners
Series A (2017): $24.5M led by ABS Capital Partners and BroadOak Capital
Debt (2020): $2M supported by PPP
Key Investors in LabConnect
ABS Capital Partners
ABS Capital Partners is a growth equity firm that partners with technology-enabled services companies to accelerate their growth. They focus on B2B software and tech-enabled services businesses with strong technology and data foundations, providing capital and guidance for infrastructure building and process modernization.
BroadOak Capital
BroadOak Capital Partners is a boutique financial institution specializing in direct investment and banking services for life sciences and biopharma services companies. They focus on life sciences tools, diagnostics, and biopharma services, leveraging their expertise and networks to provide growth capital and advisory services.
What's next for LabConnect?
The recent major strategic investment signals a period of accelerated growth and expansion for LabConnect. This capital infusion is expected to bolster the company's capabilities in managing logistically and analytically complex studies, further enhancing its service offerings for biopharmaceutical and CRO clients. With a focus on innovation and client-inspired support, LabConnect is poised to strengthen its market position, potentially exploring new geographical markets or investing in advanced technological infrastructure to maintain its competitive edge in the central laboratory services sector. The company's trajectory suggests a continued emphasis on supporting the full spectrum of clinical development needs.
See full LabConnect company page
