Health

Madrona continues to back Ovation.io as Boston startup raises $21.5M for its lab software platform

Seattle-based Madrona Enterprise Group is placing more cash behind Boston’s . The startup which makes cloud-based software to assist medical testing labs handle information and run their enterprise has raised $21.5 million in new funding.

Madrona in a $5 million spherical final 12 months as a part of an expanded curiosity in well being tech. The VC agency mentioned on the time that it was investing the place it noticed room for innovation when combining the cloud, information analytics, and the massive quantity of information being produced by life sciences corporations.

Ovation co-founder and CEO Barry Wark, who launched the corporate shortly after receiving his doctorate in neurobiology and habits from the College of Washington, that the startup greater than doubled its income and grown its affected person quantity 75-fold within the final 12 months.

Wark mentioned that at a time when medication is quickly turning into each extra complicated and extra information pushed than ever — particularly round genomics and molecular testing — many sufferers are nonetheless not benefitting from precision analysis due to the time and value concerned within the required testing.

Ovation’s platform goals to use expertise “to match researchers with the suitable information, from the suitable lab, in methods which can be up to 5 occasions sooner than conventional strategies,” Wark wrote. “However so as to assist all sufferers, we want to do that at an unprecedented scale.” He mentioned the brand new funding will present the mandatory sources.

Madrona was joined within the spherical by SignalFire, Borealis Ventures, Seattle’s , and David Shaw.

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