Quartzy Receives Series A Funding

By Marc Castro

Jul 02, 2013 10:59 PM EDT

The free lab platform Quartzy recently announced that it was able to raise US$4 million in Series A financing. Participating in the round were David Sacks, Sam Altman, Sreeram Veeragandham and Jeremy Stoppelman. The round was led by Khosia Ventures.

The company has recently been on the upswing in the past year, increasing its research headcount to four times from last year. WIth the new capital infusion, the company would be able to hire and retain top talent, improve its website and develop mobile offers to grow the business.

According to Quartzy's founder and CEO Jayant Kulkami, "Quartzy serves as infrastructure for research labs in the academic, biotechnology and pharmaceutical sectors. This additional round of capital will allow us to rapidly accelerate the pace at which we can develop the product." 

He added that Quartzy is free for researchers to use.

He further said, "Before Quartzy, labs used Excel spreadsheets to manage their inventories, and researchers used email to submit order requests to their lab managers. With Quartzy labs can host their inventories in the cloud and submit order requests to lab managers online. Lab admins can approve or deny requests through the web interface creating an audit trail. Quartzy liberates researchers from mundane administrative tasks so that they can focus on their research." 

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