What is LabConnect?
LabConnect operates at the intersection of advanced laboratory technology and clinical logistics. The company provides a comprehensive suite of services, including central laboratory support, biorepository management, and sophisticated data integration, which are vital for modern drug development. By offering a centralized platform for sample tracking and analytical services, LabConnect enables its clients to streamline the transition from preclinical research to late-stage clinical trials. Their market position is defined by an ability to bridge the gap between high-volume laboratory testing and the rigorous data management requirements of global regulatory environments, ensuring that drug development companies can maintain operational continuity across diverse geographic markets.
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 BroadOak Capital and ABS Capital Partners
Debt (2020): $2M supported by PPP
Key Investors in LabConnect
BroadOak Capital Partners
BroadOak Capital Partners is a boutique financial institution specializing in direct investment and banking services for life sciences and biopharma services companies. The firm focuses on life sciences tools, diagnostics, and biopharma services, leveraging its in-house expertise and extensive networks to deliver exceptional results for its clients.
ABS Capital Partners
ABS Capital partners with technology-enabled services companies to accelerate growth and create sustainable, scalable business models. They provide growth equity capital to B2B software and tech-enabled services businesses, focusing on those with strong technology and data foundations.
PPP
Public-Private Partnership
What's next for LabConnect?
With this recent capital injection, LabConnect is well-positioned to scale its infrastructure and enhance its technological offerings. The strategic focus will likely center on expanding its global footprint and deepening its integration of automated data management systems to meet the increasing demand for decentralized clinical trial support. As the biopharmaceutical industry continues to prioritize speed and data integrity, LabConnect's ability to provide scalable, client-inspired solutions will be a key driver of its future market expansion. The firm is expected to leverage this financing to further modernize its laboratory facilities and invest in the digital tools necessary to support increasingly complex, multi-site clinical research programs.
See full LabConnect company page
