Life sciences research and development is the front line for urgently needed new discoveries, and it requires a lot of supplies to do it. Chemicals, antibodies, and bioreagents are in continual demand in the lab. Unfortunately, life sciences procurement has long been held back by archaic systems.

A pervasive lack of price transparency makes comparison shopping nearly impossible. Disparate technology systems jeopardize billing and inventory data. Even re-ordering basic chemicals can be a logistical headache. As a result, pharmaceutical companies and research universities spend unnecessary time and resources on procurement complexities and supply chain demands.

While it’s easy to understand that R&D should spend less time on procurement and more time on, well, research and development – it’s much easier said than done. 

Labviva is solving this problem. 

Labviva uses AI to accelerate the pace of life science research by seamlessly connecting suppliers, purchasing departments, and scientists. 53 Stations is delighted to lead Labviva’s $25 million Series B round, announced today, alongside Biospring Partners, B Capital Group, and Glasswing Ventures. The investment reflects the company’s incredible growth amid escalating demand for automated supply chain and procurement solutions in the space. Managing Partner Jason Pritzker will also join Labviva’s Board of Directors.

The company empowers customers to maintain absolute control over their own data, which is why many of the world’s leading pharmaceutical companies and research universities already trust and rely on Labviva to modernize their laboratory operations. During the past year, Labviva has doubled its revenue, tripled transactions, and materially increased headcount. To capitalize on this momentum, Labviva will use the funding to accelerate new product development, bolster marketing and customer support, and expand internationally.

Healthcare and life sciences generate an incredible amount of data, creating a huge opportunity for AI to make a real impact. We at 53 Stations are excited about how AI can transform healthcare IT to unlock new benefits, streamline operations, and ultimately improve patient care. The use of AI in life sciences is forecasted to reach $11 billion by 2033, predominantly driven by pharmaceutical and biotech adoption. The life sciences sector has “gone all in on AI,” with major pharmaceutical companies implementing AI and finding new efficiencies across the enterprise to improve business processes such as research, legal, and drug discovery and development. We believe that Labviva is in an ideal position to capture this tailwind. 

As always, we invest in people we believe in and who inspire us. Labviva co-founders Siamak Baharloo and Nick Rioux bring a strong track record in life sciences procurement to the table and have built a team of exceptional leaders. Siamak’s personal experience in research along with Nick’s technology acumen have been instrumental in the company’s success and is reflected in the thoughtful, strategic, and persistent way they are approaching this space. Through our partnership with The Pritzker Organization (TPO), 53 Stations can leverage the extensive network of experienced operators and potential customers to help bolster Siamak and Nick’s bold plans for growth.

53 Stations is building a healthcare investment thesis centered on SaaS and AI-enabled solutions that tackle inefficiencies in healthcare systems. Through our connection with Epic Staffing Group, we’ve gained valuable perspective on the challenges health systems, providers, researchers, and leadership teams face daily. We’re focused on backing scalable technologies that streamline operations, make better use of data, and improve outcomes for both patients and the professionals who support them. From system-wide improvements to consumer-facing tools, we’re exploring healthcare-centric innovations with the potential to make a lasting impact through strong go-to-market strategies, stickiness, and monetization. If you’re a founder in the space interested in sharing information about your company with 53 Stations, reach out at 53stations.com/contact.