What is LabConnect?
LabConnect specializes in delivering comprehensive central laboratory and client-inspired support services tailored for logistically and analytically complex studies. The company offers a full spectrum of project and data management services, ensuring high-quality samples are accurately linked to data. These services are customizable to meet the specific requirements of clients and their clinical studies. By integrating state-of-the-art technology, world-class laboratories, and access to major and emerging markets, LabConnect positions itself as a premier, single-provider solution for biopharmaceutical companies navigating the drug development lifecycle from preclinical stages to Phase IV trials.
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
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 in-house expertise and networks to deliver results.
ABS Capital Partners
ABS Capital partners with technology-enabled services companies to accelerate growth and create sustainable, scalable business models, providing growth equity capital to B2B software and tech-enabled services businesses.
PPP
Public-Private Partnership
What's next for LabConnect?
The recent major strategic investment in LabConnect signals a strong confidence in its business model and future growth potential within the biopharmaceutical services sector. This capital infusion, part of its $30.5M in total financing, is likely to be directed towards enhancing its technological infrastructure, expanding its laboratory capabilities, and potentially broadening its geographical reach. As LabConnect continues to support complex clinical trials, this strategic backing will be instrumental in solidifying its market position and advancing its mission to streamline drug development processes for its global clientele.
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