LabLogs.com closes Series A Funding

PRESS RELEASE July 2024

Lab Logs (“LabLogs,” “ELL,” or “the Company”), a leading provider of digital solutions for clinical lab maintenance and compliance tracking, is excited to announce that it has secured an initial lead investment from Rockmont Partners (“Rockmont”) as part of a larger Series A round. This significant milestone will help accelerate the company's growth trajectory and innovation, enabling it to expand its market reach and enhance its offerings.

"We are thrilled to partner with Rockmont," said Daniel Summers , CEO of Lab Logs. "Their support and expertise will be instrumental as we continue to revolutionize the way clinical labs manage maintenance and compliance data, replacing outdated paper logs with our efficient, digital solution."

Rockmont's investment will allow LabLogs to advance its technology and scale its operations to meet the growing demand for reliable and user-friendly lab management tools. This partnership marks a pivotal step in ELL's mission to streamline lab processes and ensure compliance across the industry.

LabLogs has seen exponential growth over the past three years, expanding their footprint from 12 clinical lab customers to over 150 national and international customers. Within that, the Company’s ARR has grown an average of 49% each year in that same time span. Rockmont managing partner and new ELL board member Brian Fox noted, “LabLogs’ impressive growth is what caught my eye. We firmly believe that we will be able to leverage our past operating experience in SaaS business models to help the company as they continue to grow, expand, and capture new and exciting markets. We are eager to support their journey and contribute to their success as they continue to lead the way in digital lab management solutions.”

Bo Bartholomew , managing partner at Rockmont and the other new board member for ELL, said, "LabLogs’ service is innovative and critical to the healthcare ecosystem." Bo continued, "In my 25-year career in hospital management and healthcare solutions, the audit process within labs has been a consistent and major pain point. LabLogs solves that problem effortlessly, and their ability to capture new customers is a testament not only to their exceptional products but also to their remarkable leadership team.”

After expanding LabLogs’ platform use from their US labs to Germany, Thomas Berche , Quality Assurance Manager at Memphis MLM Medical Labs , shared his positive experience: “ELL has provided our lab with the tools to effectively manage our maintenance processes and to become paperless. Not only does the software allow us to easily track maintenance tasks in real-time, but we have also been able to customize non-instrument related tasks to optimize performance and support our quality system. ELL also provides excellent customer support. I cannot imagine doing business without ELL and I highly recommend this game-changing software to any lab that wishes to ensure compliance.”

For more information about Electronic Lab Logs and its solutions, visit www.LabLogs.com.

About Electronic Lab Logs Electronic Lab Logs is a software company dedicated to providing clinical laboratories with efficient, digital tools for tracking maintenance and compliance data. By replacing traditional paper logs with a comprehensive digital solution, Electronic Lab Logs helps labs maintain accuracy, compliance, and efficiency.

About Rockmont Partners Rockmont Partners’ mission of People-Purpose-Profit targets SaaS businesses with established market fit and a path to profitability in the HealthTech and FinTech industries. With a track record of identifying and supporting innovative founder teams, Rockmont brings its operator expertise and resources to help these dynamic companies thrive in their respective industries.

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