Quartzy (YC S11) Scores $1.2M To Help Life Scientists Stay Organized(blogs.wsj.com)

73 pointsby jayzeevor 14 Jahren14 comments

blogs.wsj.com

Quartzy (YC S11) Scores $1.2M To Help Life Scientists Stay Organized

http://blogs.wsj.com/venturecapital/2012/02/23/quartzy-scores-1-2m-to-help-life-scientists-stay-organized/

8 comments

cpercivavor 14 Jahren

Random piece of feedback, in case it's useful (I'm guessing that the Quartzy guys will read this): My father is a professor of chemistry, but wasn't interested in Quartzy because "the university already has software which keeps track of all our inventories". Apparently the health and safety people decided a few years ago that there must be central records of all chemical inventories in case there's a fire or other disaster.

... and they're paying a lot of money for this. So if you're looking for an area to expand, you might like to consider going after the "we'll help you keep track of the labs which report to you" market rather than just the "we'll help you keep track of your own lab" market.

jayzeevor 14 Jahren

thanks! We discovered that labs on Quartzy are already on their own using the reporting mechanisms for exactly this purpose. Here is a quote from our testimonial page (http://www.quartzy.com/testimonial/): Quartzy is ideal for keeping an up-to-date chemical inventory (required by most Lab Safety Compliance Offices) and helping my labmates know what is at their fingertips while planning their experiments. Lab Manager, Tufts University

cpercivavor 14 Jahren

I'm not sure that's exactly the same thing. I interpreted that quote to mean that one lab at Tufts was using Quartzy to keep an up-to-date inventory; what I'm talking about is a university mandating a particular platform which all its labs must use -- because that platform is convenient for the administration, not because it's necessarily convenient for the individual labs.

jluanvor 14 Jahren

Yeah -- a lot of places use ChemTracker

int3rnautvor 14 Jahren

I'm not a scientist, and this is perhaps irrelevant to this thread, but since Jayzee is here, I just wanted to say how much I admire the charming video they've had on their site. Not to be negative, but it's not the most artistic or beautiful explanatory video out there, but that's why I like it; it's the embodiment of the Lean Startup approach, and how you don't have to have to spend loads and be a master at that particular craft to put something out there to explain your product. For the longest time I was unsure if I should make my own or pay for someone to do it (not sure what you guys did but I assume it wasn't one of those $10,000 videos a lot of "starups" have.) but seeing this gave me inspiration and the realization that this isn't some blockbuster movie, it's supposed to explain the product--and well, you got me moving and learning animation and some other neat skills in my spare time--and you showed me a great lesson...so thanks!

Hope things continue to go well.

jayzeevor 14 Jahren

wow, thanks! Adam's friend made the video and his wife gave the voice-over so it has an all 'in-the-house' production!:)

I feel that for a non-consumer product like ours, where design is not the make or break difference, a video like the one that we have is more than sufficient to let people know more about the product.

kayhivor 14 Jahren

I reached out to Quartzy just after launch since we operate in the same space and can say they are class act.

I'm unsure how many founders take a 30 min phone call on a couple of HN exchanges, but they did (thanks again).

fleaflickervor 14 Jahren

A lot of startups seem to be raising seed rounds in the $1.1M-$1.3M range (a cursory HN search turned up seven in the past few months, links below).

What kind of valuations are they getting? Anybody willing to post anonymously (or otherwise)?

Gumroad $1.1M http://news.ycombinator.com/item?id=3568962

Curebit $1.2M http://news.ycombinator.com/item?id=3520175

RJMetrics $1.2M http://news.ycombinator.com/item?id=3419670

Ginzametrics $1.3M http://news.ycombinator.com/item?id=3239636

Zoomingo $1.3M http://news.ycombinator.com/item?id=3235490

Tealium $1.1M http://news.ycombinator.com/item?id=3447834

Cloudability $1.1M http://news.ycombinator.com/item?id=3395361

jayzeevor 14 Jahren

Quite a few startups that I know are doing a rolling close ... So the early investors get a better valuation for coming in early without asking the perennial, 'Who else is in the deal' question. Investors who come in later pay a premium since the startup has been derisked (at least from a fund-raising perspective)... So I think often there isn't a single valuation for these rounds.

hornbakervor 14 Jahren

You can assume those went down in the range of $2-$4M pre-money for a priced round (a single seed investor will want between 20-40% of the company, depending on how strong the team/traction is). Many seed rounds are convertible notes, however, which are not priced, but rather pegged to a Series A with a cap and discount.

cingvor 14 Jahren

I'm a computational life scientist, so I'm not exactly in the target user group, but I will say that I consider LabGuru's (http://www.labguru.com/) research project tracking to be a killer feature that Quartzy lacks at this point.

Keep up the good work though, I've yet to see anything close to my dream CMS for science labs.

rdlvor 14 Jahren

"YC just funds consumer web apps", heh.

teycvor 14 Jahren

I'm really curious because this is not the typical YC investment. I wonder what is the kind of reasoning pg goes through, perhaps this is an exercise in customer development?

RichardPricevor 14 Jahren

Great job Quartzy. It's wonderful to see more startups join the movement to accelerate science!