Series D funding boosts PatSnap's mission to revolutionise R&D

HSL_2017_PatSnap_Jeff_Ray_CouchDSC_1190 copy Hello, customers and friends, we'd like to share that our Series D round of funding has just closed. This US$38 million round has been led by existing investors, Sequoia Capital and Shunwei Capital, with participation from Qualgro.

To date, we've raised over US$100 million, which puts us in a minority of highly funded technology start-ups. This, coupled with the rapid growth of our customer base, is welcome validation of our mission.

It's a given that we'll continue empowering our customers to become innovation success stories—because when you thrive, so does our "pale blue dot" of a planet.

Our founders plan to invest further in our own R&D capabilities and grow our global operations. This will help us better serve you, our rapidly growing and international customer base. Not to mention, we're trying to solve one of the most complex (and rewarding) problems out there—making sure mountains of R&D spend translates into new heights of meaningful technological breakthrough.

Since our Series C funding, we've launched Academy by PatSnap (a free online learning hub for R&D innovators), scaled international operations (with an office in the US and an R&D centre in Singapore), relaunched this blog as a repository of insight for innovators, and executed countless initiatives for the benefit of customers and non-customers alike.

We plan to continue outdoing ourselves—and everyone else trying to solve the challenges facing R&D professionals.

Mr. Tuck Lye Koh, Founder and CEO of Shunwei Capital, explains:

“The challenges of developing, maintaining and making sense of such large and complex datasets are very strong barriers to entry, and what PatSnap has been able to achieve in such a short period of time is remarkable. We wanted to re-invest because we firmly believe in the company’s vision, and because of the massive potential for further growth as the company expands into new markets and geographies.”

Jeffrey Tiong, Founder and CEO of PatSnap, adds:

“We have recently made a number of strategic leadership appointments across US, Europe and Asia, and find ourselves in a very strong position to grow into different countries and industries, and develop even more innovative solutions for our clients. We will also be opening our second North American office in Toronto to better service our clients on the East coast, and to support the huge amount of innovation that is taking place there.”

Ray Chohan, SVP Corporate Strategy and pioneer of PatSnap's London operations, affirms that the mission remains the same:

“Businesses worldwide are investing a significant proportion of their turnover in R&D, but much of that money is wasted developing ideas that will never achieve a return on investment. Through the use of big data, analytics and machine learning, we are giving innovation leaders the data they need to make better decisions around their R&D and investment strategy."

Here's to the next phase of our development—we hope to have you all with us, the whole way.