Total amount raised
$6.1 Billions
Latest funding date
October, 2021
Location
Benchling has successfully raised significant funding through multiple rounds, with notable investors such as Lone Pine Capital and Franklin Templeton. The platform offers a cloud-based solution designed to accelerate research and development in the biotech industry.
Keep reading to explore the intricacies of Benchling's fundraising journey and the investors backing this innovative platform.
What Is Benchling?
Benchling, founded in 2012, is a cloud-based platform designed to accelerate biotech R&D. The company is headquartered in San Francisco, California.
Founded by Ashutosh Singhal, Cory Li, and Sam Wickramasekara, Benchling offers tools for designing DNA, managing research workflows, and making critical R&D decisions.
With a team of 501-1000 employees, Benchling continues to innovate in the life sciences sector, providing essential software solutions for researchers and development organizations.
How Much Funding Has Benchling Raised?
- Seed Round
- Amount Raised: $900K
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the product-market fit.
- Seed Round
- Amount Raised: $5M
- Date: April 2015
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $7M
- Date: October 2016
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market penetration.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product enhancements.
- Series B
- Amount Raised: $14.5M
- Date: June 2018
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the customer base and enhance product features.
- Series C
- Amount Raised: $34.5M
- Date: July 2019
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: $50M
- Date: May 2020
- Lead Investors: Alkeon Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and support global expansion.
- Series E
- Amount Raised: $200M
- Date: April 2021
- Lead Investors: Sequoia Capital Global Equities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series F
- Amount Raised: $100M
- Date: November 2021
- Lead Investors: Altimeter Capital, Franklin Templeton
- Valuation at Round: $6.1 billion
- Motivation Behind the Round: To invest in product development and global expansion, particularly in the EMEA region.
Total Amount Raised: $411.9M
Current Valuation: $6.1 billion
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm that invests in both public and private markets. They are known for backing high-growth technology companies.
- Investment Focus Areas: Technology, software, biotechnology
- Notable Investments: Snowflake, Unity Technologies, Roblox
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization offering diversified investment strategies. They manage mutual funds, ETFs, and alternative investments.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Moderna, Zoom Video Communications, Tesla
- Tiger Global
- Details: Tiger Global is an investment firm focusing on private and public companies in the global internet, software, consumer, and financial technology industries. They have a strong track record in tech investments.
- Investment Focus Areas: Technology, software, consumer internet
- Notable Investments: Facebook, LinkedIn, Spotify
- Lone Pine Capital
- Details: Lone Pine Capital is a hedge fund that invests in public and private equity markets. They focus on technology, consumer, and healthcare sectors.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Amazon, Alphabet (Google), Shopify
- Andreessen Horowitz
- Details: Andreessen Horowitz is a venture capital firm that backs bold entrepreneurs building the future through technology. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, software, healthcare
- Notable Investments: Facebook, Airbnb, Lyft
What's Next for Benchling?
Benchling stands at the cusp of significant growth, driven by the burgeoning biotechnology sector. With the potential to impact the economy by $2 to $4 trillion annually over the next two decades, the opportunities for Benchling are vast. The company plans to leverage its recent $100 million Series F funding to enhance product development and expand globally, particularly in the EMEA region.
Future fundraising seems promising as Benchling continues to attract high-profile investors like Franklin Templeton and Altimeter Capital. However, sustaining its rapid growth and navigating global economic uncertainties, such as the COVID-19 pandemic, will be critical challenges. The company must also ensure market acceptance of its new features and solutions to maintain its competitive edge.
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