BRANFORD, Connecticut, June 10, 2014 /PRNewswire/ -- Core Informatics, a leader in data management software which helps accelerate scientific research, collaboration and discovery, today announced a $5 million Series A equity financing led by KLP Enterprises, the investment arm of the Pritzker/Vlock family office. In addition, Elon Boms, Managing Director of Launch Capital, will join Core Informatics' board of directors.
Today, many scientists are slowed down by over-reliance on spreadsheets and legacy software applications that are not integrated across their organization or are unable to keep up with their goals for new product innovation, quality and operational efficiency. Core Informatics provides web-based solutions that help scientists reduce research cycle time, automate laboratory workflows, facilitate collaboration and derive more value from their data. With dozens of major companies and thousands of scientists already using its software, Core Informatics has received recognition from industry analysts and publications as a transformational leader in the industry.
"Scientists conducting cutting edge research deserve similarly innovative software platforms which can easily adapt to support their work," said Josh Geballe, CEO of Core Informatics. "Cloud-based platforms enable speed, mobility, efficiency, collaboration and access to big data that have created tremendous value in other industries while reducing IT complexity and cost. We are thrilled to bring these benefits to scientific organizations and are delighted to have the support of KLP Enterprises to continue to enhance our platform and expand our community of clients and partners."
With deep roots in science and technology, the team at Core Informatics has tripled in size in the last year in support of its growing global customer base. The Series A equity investment will be used to further scale up software engineering and product development, customer support and sales and marketing. This is Core Informatics' first capital raise since its founding in 2006 and compliments a recently announced $3 million financial assistance package from the State of Connecticut Department of Economic & Community Development.
"Flexible, scalable cloud computing platforms are bringing differentiated value to many industry verticals," said Elon Boms, Managing Director, Launch Capital. "Core Informatics is leading this revolution in the field of scientific data management and collaboration, and we are delighted to help them expand the benefits they will provide to existing and future clients."
SOURCE Core Informatics