Impact Laboratories Services Inc., a tech company that measures and certifies the environmental sustainability of bioscience and pharmaceutical laboratories worldwide, has secured $4.95 million in series A funding, says CEO James Connelly. 

With the infusion of funds, by far its largest to date, the organization aims to improve its core technology, My Green Labs Certification—a software tool used by labs to benchmark sustainability performance—and scale its global marketing and business development efforts.

Connelly says he anticipates the organization will surpass $9 million in revenue this year, up from $4 million in 2024 and $2 million in 2023. 

The projected growth will lay the foundation for the company to open a Spokane headquarters by year end. 

“We are considering opening an office as we scale up,” Connelly says. “Certainly, if we maintain this growth trajectory by the end of the year, we will seriously be considering opening an office.”

Impact Laboratories currently doesn't have a brick-and-mortar location, and its employees work remotely, Connelly says. 

The majority of Impact Laboratories' sales growth is organic, Connelly says. “We work with 41 of the top 50 biotech and pharma companies. A lot of times, they just hear from peers that this tool works.” 

The tool is used in over 3,800 labs in 51 countries, he says. He estimates there are about half a million such labs around the world. 

The round of funding was led by the Spokane Angel Alliance, Tacoma Venture Fund LLC, LabX Media Group, and Greenhouse Capital Partners. 

Tom Simpson, president of the Spokane Angel Alliance, says the completion of a series A funding round is a meaningful milestone in a company’s progress. 

“(Series A funding) telegraphs that the company is a leader in their industry. It’s generating revenue. It has a customer base, a defined business plan, and an experienced team,” Simpson says. “It paves the way for more opportunities in the future.” 

Bob Kafato, president of LabX Media, noted the importance of investing in innovations that have a long-term impact and move industries forward. 

“The scientific industry is at a turning point,” he said in a statement. “Labs that prioritize sustainability will not only lead in innovation, but operational excellence.” 

Impact Laboratories is the for-profit commercial arm of My Green Lab Corp., a corporate nonprofit focused on addressing sustainability in science. My Green Lab’s flagship software technology is the My Green Lab Certification, which provides scientists and teams with actionable methods and best practices to implement a sustainable laboratory and reduce their environmental impacts. 

My Green Lab launched Impact Laboratories last year to offer third-party verification for My Green Lab Certification, raising $1.35 million in financing from the Spokane Angel Alliance and Spokane-based Kickstart Seed Fund, and has previously received funding from Ignite Northwest. 

The company has 30 employees, four of whom are based in Spokane and Coeur d'Alene, Connelly says. The rest are spread out across the United States, including in California, where My Green Labs was originally founded in 2013. Connelly was born and raised in Spokane and moved back to the region about five years ago. He estimates the company will grow to 40 employees by year-end, adding between two and three workers in Spokane.  

Through 2027, Connelly anticipates Impact Laboratories will employ over 50 staff and generate $40 million in revenue. 

The My Green Labs Certification software will be upgraded to be more user-friendly, ensure it has enterprise-class security, and improve the data that provides impact estimates on energy and water savings and return on investments, Connelly says. Additionally, the funds will improve the technology used to audit and verify My Green Lab ACT Ecolabel. The ACT Ecolabel emphasizes accountability, consistency, and transparency around manufacturing, energy and water use, and packaging. The products branded with this label are independently audited by a third party and published by My Green Lab, 

The Health Sciences & Services Authority of Spokane County, a grant-making organization that promotes bioscience-based economic development, provided Impact Labs with a $250,000 matching grant to help offset expenses, Connelly says. He plans to seek more grant funding from HSSA to help build out the company’s corporate headquarters. 

“It’s a huge motivator for us to continue to invest and grow in the region, and we’re committed to that,” Connelly says.