Semaphore Solutions recently secured a round of capital.
The Victoria-based company is dedicated to empowering laboratories through innovative informatics solutions that transform lab workflows.
Semaphore revealed that the funding hails from Cypress Ridge Capital, which initially invested in the Vancouver Island firm in 2023.
“Our partnership with Cypress Ridge Capital has been transformative,” says chief executive Peter Smith.
Labbit, Semaphore’s flagship product, combines workflow automation with graph database technology to provide a robust and agile LIMS solution tailored to the needs of Clinical, Biopharmaceutical, and Manufacturing laboratories, according to a statement from the company.
“We built Semaphore to provide labs with the informatics they deserve—solutions that don’t just fix problems but actually unlock new opportunities for growth and innovation,” says Smith, who founded Semaphore in 2010.
The product’s cutting-edge design enables labs to maintain high standards of data integrity, compliance, and scalability, supporting operational efficiency across various laboratory environments. Labbit’s unique combination of technologies creates “a first of its kind agentic AI co-pilot.”
Since CRC’s initial investment, Semaphore has expanded its user base to include Clinical and MDx organizations such as Billion to One, Veracyte, and the Peter MacCallum Cancer Centre.
The additional funding from Cypress will fuel Semaphore’s efforts to further expand Labbit while actively pursuing acquisitions, according to a statement. The firm will focus on scaling commercial infrastructure and deepening customer success resources to support laboratories worldwide.
“The ongoing support not only validates our original strategy but reinforces the market’s demand for real agentic AI solutions,” Smith remarked. “Labbit has seen remarkable traction, and this additional investment will allow us to amplify our impact and continue to redefine what laboratories can achieve with next-generation informatics.”
Founded in 2021, Cypress Ridge Capital is a growth-oriented investment firm focused on backing companies redefining critical industries such as healthcare with transformative innovation.
Leave a Reply