Benchlings software for managing biotech research nabs $34.5 million

In a field where the laboratory notebook is still considered the state of the art, it’s no wonder a company like Benchling, which provides software for managing life sciences research, was able to nab $34.5 million. Considering how much detailed technical work goes into the research that produces all of our great leaps forward in biotechnology, it’s a wonder that the practice wasn’t digitized sooner. Financiers certainly see the benefit in Benchling’s technology — a new twist on what’s now a standard verticalized software as a service for a niche industry. Y Combinator Continuity, Thrive Capital and Benchmark Lead Edge Capital joined lead investor Menlo Ventures in financing the company. The company said it would use the money to grow …