NextBio Secures $8 Million In Series C Venture Funding
\CUPERTINO, CA-NextBio, provider of an innovative platform that enables life science researchers to search, discover, and share knowledge locked within public and proprietary data, today announced that it has closed a $8 million Series C round of financing led by Newbury Ventures, a previous investor, and including participation from prominent private investors.
The capital will be used to fund the company's continued growth in sales reach and channels, international expansion, and technology leadership. Since its launch, NextBio's research platform has been adopted for use by researchers at many of the world's top commercial and academic institutions, and the company has recently partnered with leading life science publisher Elsevier to make the power of NextBio available to subscribers of ScienceDirect. This partnership delivers unique, intelligent and insightful scientific content enabling researchers to accelerate scientific discoveries.
"NextBio is a strong innovative organization, poised for continued growth," said Bruce Bauer, Senior Managing Director, at Newbury Ventures. "NextBio's combination of ground-breaking technology, an exceptional team, and its unique and compelling value proposition creates the opportunity for it to be a continued leader in the life sciences information technology space."
"We are delighted by this vote of confidence from both our existing and new investors and share their enthusiasm for the company's strategy and execution," said Saeid Akhtari, NextBio Co-founder, President and Chief Executive Officer. "We are pleased to have these funds in place to finance the next phase of our growth."