Labviva

About Labviva

Labviva operates an AI-powered procurement platform tailored for the life sciences sector, aiming to streamline the purchasing process for laboratory supplies. Founded in 2017 by Siamak Baharloo, Aaron Miramontes, and Nicholas Rioux, the company was established to modernize life sciences procurement. CEO Siamak Baharloo, a trained geneticist with a Ph.D., brings over two decades of experience from leadership roles in digital marketing and eCommerce at major life science companies like Thermo Fisher Scientific and MilliporeSigma. This background provided firsthand insight into the procurement inefficiencies holding back scientific innovation, which directly influenced Labviva's creation.

The company's core offering is a digital marketplace that connects researchers and procurement departments with a vast network of suppliers for reagents, chemicals, consumables, and instrumentation. Labviva's business model is centered on its software-as-a-service (SaaS) platform, which integrates with clients' existing enterprise procurement systems such as SAP Ariba, Oracle Procurement Cloud, and JAGGAER. This integration allows organizations to maintain their current suppliers and contract pricing while gaining enhanced visibility and control over their supply chain. The platform aggregates offerings from 90% of all life science suppliers, enabling users to compare products and prices from a diverse pool of sellers, including small, local, and green-certified businesses. By using AI, the platform provides advanced search capabilities, analyzes product attributes from scientific literature, and offers data-driven insights to save researchers time and reduce costs. The company reports that clients see an average of 20% savings in the first year.

Key features include an automated Inventory Management System (IMS) that provides real-time visibility into stock levels and streamlines replenishment through AI-driven forecasting and QR code purchasing. The platform also delivers actionable analytics through customizable dashboards, offering insights into purchasing volumes, cost savings, and fulfillment data. Labviva primarily serves large pharmaceutical companies and research universities. The company has demonstrated significant growth, having doubled its revenue and tripled platform transactions in the past year. Labviva has secured a total of $55.8 million in funding over five rounds, with its latest Series B round in January 2025 raising $25 million to fuel product development and international expansion.