September 17, 2009
Based in Cupertino, California, life sciences research provider, NextBio announced today that it has closed $8 million in series C funding with Newbury Ventures leading the investment. Other vc firms that participated in this round of funding include a number of undisclosed private investors.
NextBio provides researchers in the life sciences industry a unique and innovative platform to research, discover, and share knowledge which is in both the public and private data bases. NextBio’s platform provides powerful tools to researchers that seamlessly combine with content that is unique and corrolated, changing information and data to knowledge; which can lead to new discoveries and new breakthroughs in medicine and other sectors where the life sciences come into play. NextBio’’ platform come in as an SaaS or Software as a Service and helps organizations and businesses communicate and share data over geographic boundaries. Currently, NextBio boasts of having some of the top grade clientele, who include the Burnham Institute for Medical Research, Johnson & Johnson, Merck, Stanford University, and others.
Proceeds from this funding round will go to fund the company’s continuing growth in sales, expansion into international markets, and technology leadership. Since NextBio launched its research platform, it has been widely used by some of the major research and academic institutions worldwide. Furthermore, NextBio has also joined into a partnership with a well renown life sciences publisher, Elsevier, which will make the company more powerful and its information available to subscribers of such publications as ScienceDirect.
According to the Managing Director of Newbury Ventures, Bruce Bauer; the combination of innovative technology, an exceptional management team, and its unique value brought on by partnering up with leading science publications makes NextBio a compelling investment. Furthermore, with all of NextBio’s achievements, the company could potentially be poised to be a market leader in both the IT and life sciences industries.
According to Nextbio’s cofounder, Saeid Akhtari; the team at NextBio is delighted in the confidence that the company’s existing and new investors have in the company and decided to go on with this round of funding. Furthermore, this investment also provides the company with sufficient funds to continue to grow its sales and expand into new markets.
Founded in 1992, Newbury Ventures is a vc firm that primarily invests in early stage companies who are in the IT, security, networking, and mobile industries. Currently, Newbury Ventures has over $500 million in committed capital under its management. Some other companies in Newbury’s portfolio include ACC, Divio, Laurel Networks, MetaLINCS, Paradigm, and others.
For more information about NextBio, click here.