NEW YORK (GenomeWeb) – Software developer Lab7 Systems announced today that it has closed a Series A financing round in which it raised $3 million of a planned $5 million.
The firm said it plans to use the proceeds to further develop its core software platform, and to hire additional software developers and bioinformaticians.
"New life science research technologies are driving increases in the volume, diversity and depth of life sciences data," Jim Graham, an advisor to the investment group and new member of the Lab7 board, said in a statement. "Customers need solutions like Lab7's to convert data into applied insights across diverse fields from precision medicine to industrial biotechnology. [Chief Technology Officer Christopher Mueller] and his team have built a solid foundation."
Lab7's Enterprise Science Platform enables life science laboratories to manage complex sample-to-answer workflows in data-intensive environments. The company also curates an open-source hub for bioinformatics tools, called BioBuilds. In November 2015, Lab7 partnered with BioTime subsidiary LifeMap Sciences to combine LifeMap's VarElect with the Enterprise Science Platform into an integrated offering for next-generation sequence data analysis.