See the 14-slide pitch deck Labviva used to raise $20 million to overhaul a crucial but overlooked task for Big Pharma

Labviva cofounders Nicholas Rioux and Siamak Baharloo
  • Looking for the right lab supplies and products takes valuable time for researchers.
  • Labviva says its platform makes that process easier and faster.
  • The startup just raised $20 million to help expand its team and platform.

Siamak Baharloo says there’s a big time-consuming task that’s taking researchers away from doing science in their labs: finding and buying the right supplies for their experiments.

It’s not a sexy part of scientific research and drug development, but Baharloo says that it’s a crucial component of the overall process.

Baharloo is the cofounder and CEO of Labviva, a life sciences digital marketplace that says it “sits on top of your existing procurement software” to simplify buying things like chemicals, pipettes, biological reagents, and other laboratory supplies. The company allows its customers to access more products, see data on purchasing trends, and order directly from suppliers.

Founded in 2019, the company has over 100 suppliers on its platform and partners with more than half a dozen life sciences companies and universities, including Japanese pharmaceutical company Takeda, according to Baharloo.

Baharloo said Labviva’s platform handles around $7 million in purchases per month, and he expects that number to double in the coming months based on new clients it’s onboarded recently. He added that the company expects to see $150 million in purchases on its platform in 2023. 

Labviva said on Monday that it had raised $20 million from investors in a Series A round led by Biospring Partners, bringing the company’s total capital raised to $30 million.

See the pitch deck Labviva used to raise its series A round:

Labviva’s goal is simplifying how researchers order the supplies they need in their labs.

Labviva isn’t focused on displacing existing procurement systems like Jaggaer and Coupa, Baharloo told Insider. Instead, it wants to work with existing platforms to let researchers access the things they need in one place.

Procurement managers, or those tasked with sourcing products for their company, can use Labviva’s platform to aggregate their suppliers in one place, compare costs, and see analytics on pricing.

Labviva “sits on top of your existing procurement software,” according to its website, and allows users to search through catalogs on its platform, add any items to a single shopping cart, and check them out in one go — no matter how many suppliers they want to order from at once.

Choosing and buying lab supplies usually looks like this — a simple page with little information about the product that could be helpful for researchers.

Labviva offers products that range from chemicals and office supplies to petri dishes and pipettes. Here’s what the chemical vertical looks like on its platform.

The company has partnered with over 100 suppliers, Baharloo told Insider, including big names like Fisher Scientific, Cytiva, and Waters.

Labviva also offers a dashboard that provides analysis of the customer’s purchases and products in real-time.

Baharloo told Insider that different customers have come to Labviva wanting different solutions. In the case of one pharmaceutical company, the platform helped with compliance and speeding up the ordering process.

At a university, the platform gave them access to more suppliers at discounted costs.

A separate company used Labviva to aggregate its orders into a single platform without disturbing its relationship with its primary supplier.

Baharloo said Labviva plans to use the funding to build out its team and expand its platform.

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