Deal will fuel continued growth at U.K.-based, sample-management software company, which improves research processes for critical biotech, pharmaceutical and academic organizations
Battery Ventures, a global, technology-focused investment firm, announced a significant, majority investment in Titian Software Ltd., a U.K. company that develops innovative sample-management software and related services for life-sciences laboratories. Specific terms were not disclosed.
Titian, based in London, makes technology for the entire sample-management process, helping customers maximize the efficiency of their research and development. More specifically, the company's Mosaic product improves the supply of samples—including compounds, biologicals and reagents—essential to vital research and development processes in the lab. The company sells into industries including pharmaceuticals and biopharmaceuticals; agro science; contract research organizations; and not-for-profit and academic groups.
Titian will use the new funds to support organic growth as well as potential future acquisitions, said Battery General Partner Jesse Feldman.
"The broader life-sciences sample-management market is poised for more growth, with trends such as personalized medicine and genomic sequencing driving more high-throughput, lab screening, as well as the creation of new labs to support this activity. All of this will drive growth at Titian," Feldman said. Battery has extensive experience in the market, including through previous investments in another sample-management/sample-preparation company and in a laboratory-software company.
Titian's founder, Edmund Wilson, retains a meaningful ownership stake in the company and will remain closely involved in leading the business going forward.
"Titian has been on a solid growth trajectory of late," Wilson said. "But our new partnership with Battery represents a key inflection point for the company that should allow us to scale even further, in part by tapping Battery's industry expertise, network and market savvy. With Battery's help, Titian can better capitalize on the exciting growth opportunities we see ahead in the sample-management sector."
Titian's Mosaic helps researchers better manage and automate critical processes, allowing its customers to maximize research efficiency and speed up the discovery and delivery of new drugs.
"Titian's products are particularly critical to many organizations right now, as increased lab automation can help organizations counteract labor shortages in the current market," said Battery's Justin Rosner, who will join Titian's board along with Jesse Feldman. "More broadly, lab automation helps Titian's customers perform critical testing activities more quickly, accurately and efficiently."
*For a full list of all Battery investments and exits, click here.
Titian Software was founded in 1999 and specialises in sample management. It offers software products and consultancy services that help clients improve the supply of samples (compounds, biologicals and reagents) to their vital research processes. Using the company's Mosaic software, Titian's customers see significant benefits in terms of throughput, response times, error rates, labour costs and sample conservation performance of their sample banks. We use our experience of integrating laboratory robotics into our systems to ensure that our clients make best use of their investment in automation.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, Calif.; Tel Aviv; London; and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
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