Why LigoLab’s Funding Choice Nearly Two Decades Ago Continues to Benefit the Company and its Customer
November 28, 2023
LigoLab CEO Suren Avunjian recently authored an article for Forbes Business Council where he broke down the pros and cons that need to be weighed when a new business is deciding between investor funding or bootstrapping for its funding plan.
Here’s the Forbes article (published on August 16): Funding Versus Bootstrapping For An Enterprise Software Company
As Avunjian points out in the article, both paths of investment come with their own sets of advantages and challenges, and ultimately the path chosen by the business will shape the pace and trajectory of its growth for years to come. He suggested which option to choose was heavily dependent on the company’s growth plans and risk appetite.
At LigoLab, we made the strategic choice to bootstrap,” explained Avunjian. “This decision allowed us to grow organically and to be solely accountable to our clients. This freed us from the perpetual cycle of fundraising, along with the pressure and expectations that come with investor funding.”
Avunjian continued by saying that LigoLab is and always has been an enterprise software company that prides itself on being customer-centric and that the bootstrapping model allowed the company to become what it is today.
“Our focus remains and we’re committed to delivering maximum value to our partner laboratories instead of appeasing investors,” he said.
To learn more about how a shared vision between friends resulted in the birth of LigoLab Informatics Platform, we invite you to read about the company’s early days.
Learn More: The Genesis of LigoLab
LigoLab’s Fully-Integrated LIS & RCM Laboratory Informatics Platform
LigoLab Informatics Platform is a comprehensive and highly configurable enterprise-grade laboratory information system software that helps pathology groups and clinical labs modernize and grow efficiently.
The LIS platform includes modules for anatomic pathology, clinical pathology, molecular diagnostics, revenue cycle management, and direct-to-consumer, all on one fully integrated database and software infrastructure. This setup eliminates the data silos that hold other LIS systems back and enables lab management to efficiently manage all departments and operations with maximized interoperability, improved productivity and reduced denials and audit risk.
LigoLab empowers laboratories to better serve patients, differentiate themselves in the marketplace, scale their operations, improve compliance, and increase profitability.
To learn more about LigoLab’s all-in-one solution, contact us for a quick call with a LIS system specialist.