Quartzy Raises $23M in Funding Led by Avenue Capital Group

The company plans to use the funds to support its next stage of growth, including improving its software platform, expanding its supplier network, enhancing customer experience and strengthening its sales and marketing efforts.

Spinta Capital acted as the placement agent for Quartzy in this transaction. Cooley LLP served as Quartzy’s legal advisor, and DLA Piper LLP served as legal counsel to the lenders.

Quartzy helps research teams manage requests, approvals, purchasing, and inventory in a single platform, giving scientists and lab managers greater visibility and control over their work. The new funding will support its continued growth as a fully integrated platform for life sciences labs, covering everything from research to procurement. More than 3,000 organizations trust Quartzy and provide access to over 10 million products from more than 1,000 leading suppliers.

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“When a lab supply doesn’t arrive, research stops. By controlling the software, supplier network, and delivery system, we can ensure the reliability, pricing, and accountability that labs need—something fragmented systems can’t provide,” said Jayant Kulkarni, co-founder and CEO of Quartzy. “This funding will help us improve every part of the platform so customers get faster delivery, smarter tools, and better pricing on everyday lab products.”

“We have followed Quartzy for many years and are happy to partner with them in this stage of growth,” said Bill Snider, Partner at BroadOak Capital Partners. “The company has built a strong position in life sciences procurement and adds real value to thousands of research labs and suppliers. It is one of the most impactful investments we can make in our core market.”

About Quartzy

Founded in 2009, by Jayant Kulkarni, Quartzy is a procurement platform for life sciences organizations, from startups to large public companies. It combines inventory tracking, request, and approval workflows, purchasing and integrations with research tools, supported by its own warehouse network and private label products.

About Avenue Growth Lending

Founded in 1995 by Marc Lasry and Sonia Gardner, The Avenue Growth Lending Funds provide flexible financing to high-growth, venture-backed technology and life science companies. They focus on businesses that fall between traditional banks and larger debt funds. The funds are part of Avenue Capital Group.

About BroadOak Capital Partners

Founded in 2006, BroadOak Capital Partners is an investment and advisory firm focused on life sciences. It works with companies in research tools, diagnostics, and biopharma services and has invested in more than 75 companies across different funds and investment vehicles.

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