# Science Exchange

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/science-exchange

- Industry: Healthcare IT
- Headquarters: San Francisco, US
- Website: www.scienceexchange.com
- Total disclosed funding: $69M
- Latest round: Series C (May 10, 2019)
- Investors on record: 15

## About

Science Exchange, Inc. is a US-based company that provides a supplier orchestration platform to streamline procurement processes for life sciences research and development teams.Science Exchange, Inc. operates a supplier orchestration platform that facilitates supplier management and procurement for life sciences research teams. Founded in 2011 in San Francisco, US, the company was co-founded by Dan Knox and Elizabeth Iorns, with Elizabeth Iorns serving as the CEO. The company has achieved a total of 9 deals, with its most recent funding round being a Series C, raising USD 11.00 mn from various investors including Collaborative Fund and Union Square Ventures, which contributes to a total amount raised of USD 11.00 mn and a current valuation of USD 55.27 mn.Science Exchange offers a comprehensive supplier orchestration platform designed to streamline purchasing, supplier management, and payment processing for research and development teams in the life sciences sector. This platform enables clients to work with a network of over 3,800 pre-approved suppliers, facilitating a simplified procurement process through a single-contract model that replaces traditional individual contracts such as CDAs, MSAs, and MTAs. Key functionalities include customizable workflows that automate and optimize collaboration among stakeholders, allowing for faster and more efficient supplier engagement. The end use cases focus on accelerating R&D timelines, ensuring compliance with internal and external regulations, and providing robust analytics for tracking spend across categories. The primary customer base comprises leading pharmaceutical and biotechnology companies globally, with markets served including North America, Europe, and Asia-Pacific.Science Exchange generates revenue through a B2B transaction model, wherein clients subscribe to its platform to access its suite of services. The pricing structure is designed around a partnership model, where clients pay for the services and products utilized within the platform, which includes streamlined purchasing and automated payment processes. Clients benefit from elevated sourcing strategies, allowing for efficient supplier management and compliance, which ultimately contributes to reduced operational costs. Flagship offerings include the automated payment processing system that centralizes supplier invoices and payments. The company’s revenue framework is geared towards enhancing operational efficiency for its clients while ensuring they have access to the necessary tools to manage their R&D functions effectively.In September 2024, Waud Capital Partners acquired Science Exchange, Inc. from a group of investors, which will enable the company to drive advancement in supply chain coordination technology in the life sciences sector. The recent funding will support the development of new products aimed at enhancing the supplier orchestration platform, with specific plans for expansion into additional geographic regions by targeting markets in Europe and Asia-Pacific by 2025.

## Funding rounds

- Series C, May 10, 2019, $11M — Norwest Venture Partners, Union Square Ventures, Indie Enterprises, Silicon Valley Bank, Maverick Capital, Collaborative Fund, Windham Venture Partners
- Series C, Jun 29, 2017, $28M — Norwest Venture Partners, Union Square Ventures, Maverick Capital, Collaborative Fund
- Series B, Feb 26, 2016, $25M — Index Ventures, Union Square Ventures, Indie Enterprises, Maverick Capital, Y Combinator, Collaborative Fund
- Series A, Mar 14, 2013, $3M — Crosslink Capital, Union Square Ventures, Indie Enterprises, Lerer Hippeau Ventures, XG Ventures
- Seed, Dec 8, 2011, $1.5M — Crosslink Capital, Andreessen Horowitz, SV Angel, Lerer Hippeau Ventures, Y Combinator, XG Ventures, Start Fund
- Seed, Jun 1, 2011 — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series B
- Crosslink Capital (https://capitalatlas.ai/funds/crosslink-capital) — Seed, Series A
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed
- Lerer Hippeau Ventures — Seed, Series A
- XG Ventures (https://capitalatlas.ai/funds/xg-ventures) — Seed, Series A
- Start Fund — Seed
- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Series A, Series B, Series C
- Indie Enterprises (https://capitalatlas.ai/funds/indie-enterprises) — Series A, Series B, Series C
- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series B
- Maverick Capital (https://capitalatlas.ai/funds/maverick-capital) — Series B, Series C
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Series B, Series C
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series C
- Silicon Valley Bank — Series C
- Windham Venture Partners (https://capitalatlas.ai/funds/windham-venture-partners) — Series C