Geospiza lands $750,000 |
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Geospiza lands $750,000
Geospiza has raised $750,000 from Seattle area angel investors such as Steve Wood, Dan Rosen and Gordon Gardiner, with the Seattle company using the new capital to bolster sales and marketing efforts.
President Rob Arnold said the company -- which has raised a total of $6 million over the past six years -- is doing well despite the slow down in the economy. That's in part because its GeneSifter data analysis product is used by biotechnology researchers at universities such as Yale, Harvard and Duke, organizations that Arnold said are attracting federal grants.
"It is very strong for us right now," said Arnold. "We are definitely beneficiaries of the increases in NIH funding."
The GeneSifter software manages the entire workflow process associated with genetic sequencing, with Arnold saying they "take data and turn it into knowledge" at the medial research organizations.
The 23-person company raised a $3 million series A round of financing in 2006. Last November, it acquired the GeneSifter technology from VizX Labs.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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