Labviva Inc., a B2B marketplace that serves buyers and sellers in the life sciences industry, has raised $20 million in new funding.

The marketplace, which serves buyers and sellers at global pharmaceutical and academic organizations, received the funds from Biospring Partners, with participation from existing investors Senator Investment Group, B Capital Group, and Glasswing Ventures. The latest funding brings the total amount raised since inception to $30 million, the company says.

The money will be used for “to expand its global footprint and launch new and complementary product lines,” the company says.