CAMBRIDGE, Mass.--(BUSINESS WIRE)--ZAGENO, the leading enterprise marketplace for lab supplies, today announced it raised a $20 million Series B round led by General Catalyst, with follow-on investment from Grazia Equity and Capnamic Ventures. ZAGENO curated more than 8 million research materials and products from premium manufacturing brands on its online platform to serve this $130 billion lab supply market. The company will use the new funding to substantially grow its team in the United States, as well as in Germany and the United Kingdom.
“Our mission is to accelerate innovation to make it easier for researchers to develop medicines, therapies and scientific advancements. We’re thrilled to announce this latest round of funding, which will enable us to fulfill this goal,” said Florian Wegener, co-founder and CEO of ZAGENO. “Expanding our Cambridge and Berlin-based teams is one of our top priorities. We look forward to working closely with the many incredible labs, researchers and purchasers of biotech and pharmaceutical companies in the Greater Boston area, as well as Germany, the United Kingdom and beyond.”
As former researchers, ZAGENO’s team knows first-hand how difficult and time-consuming it can be to procure the right equipment required for laboratory experiments. Thanks to this inside perspective, ZAGENO goes beyond transactions by compiling product specifications in one place, making it easy to compare and contrast items by category, brand and price. ZAGENO’s platform brings much-needed transparency to biotech purchasing with its proprietary Scientific Score, a best-in-class product rating system offering users unbiased, peer-reviewed ratings to support accurate purchasing decisions. For suppliers, ZAGENO’s platform enables streamlined access to scientists and researchers across academia, pharmaceuticals and biotech, making it easier for them to reach the customers they need most.
Spencer Lazar, Partner at General Catalyst and member of ZAGENO’s Board of Directors, said: “ZAGENO is well positioned to revolutionize the $130 billion biotech market with its much needed one-stop shop for biotech and pharmaceutical purchasers. We are proud to support the team as they evolve and simplify the procurement process so that life science researchers can spend more time doing what they do best: innovation and discovery.”
Alec Rauschenbusch, Founder and Managing Director at Grazia Equity, added: “We’re proud to continue our support of ZAGENO and its mission. We’re impressed by the talent ZAGENO has already brought on board, and the company’s rapid expansion proves there’s a real need for their solution in the scientific community. We’re excited to see what the company’s next chapters hold.”
By utilizing the ZAGENO platform, researchers are able to save as much as 1.5 hours per order, freeing them to focus on their research rather than their inventories. Just this month, ZAGENO’s platform was awarded Frost & Sullivan’s 2019 North American Enabling Technology Leadership Award for the seamless user experience it provides to all key stakeholders in the life science research industry. Read more about the award here.
ZAGENO is on a mission to accelerate scientific innovation by streamlining biotech purchasing processes with its award-winning, first-of-its-kind e-commerce platform. With over 8 million products available, ZAGENO makes online shopping for any research material convenient, efficient and reliable. The ZAGENO experience includes its Scientific Score, a best-in-class product rating system that offers unbiased, peer-reviewed ratings to support accurate purchasing decisions. Available on desktop, tablet, and mobile devices, ZAGENO makes biotech purchases easier than ever and is an ideal sales channel for suppliers and partners. Founded in 2015, the company is headquartered in Cambridge, Massachusetts and has additional offices in Berlin, Germany. For more information, visit zageno.com. Twitter | Facebook | LinkedIn
About General Catalyst
General Catalyst is a venture capital firm with approximately $5B in total capital raised that makes seed through growth-stage investments. We back fearless entrepreneurs with the potential to build foundational enterprise technologies and ubiquitous consumer brands. With offices in San Francisco, Palo Alto, New York City, and Boston, our portfolio companies benefit from a bicoastal network of talent, customers, and opportunity. For more: www.generalcatalyst.com.
About Grazia Equity
Grazia Equity is one of the leading venture capital investors working out of Germany. The company has been supporting a large number of mostly young companies in diverse sectors, often from their foundation to the Initial Public Offering or eventual sale. Grazia’s success derives from a partnership with extraordinarily strong entrepreneurial teams to turn them into international market leaders. In contrast to other venture capital firms, Grazia predominantly works with own capital that the partnership invests as entrepreneurs. Grazia’s portfolio companies profit from the wide entrepreneurial background of its partner team as well as their extensive international network. Grazia has invested early in category leaders such as Statista, Mister Spex, Immatics and Quantenna. For more information see www.grazia.com.
About Capnamic Ventures
Capnamic Ventures is one of Europe's leading early-stage venture capital investors with offices in Berlin and Cologne. The firm’s investment focus is on technology start-ups in German-speaking countries. In addition, Capnamic invests with international co-investors. All portfolio companies are supported by Capnamic's global industry network. The know-how of the Capnamic team is based on more than 80 investments, numerous successful trade sales and IPOs as well as own entrepreneurial experiences. Capnamic is managed by Christian Siegele, Jörg Binnenbrücker and Olaf Jacobi as Managing Partners. To find out more about our team and the founders we work with, visit www.capnamic.com or follow us on Twitter @Capnamic.