Total amount raised
$409 Millions
Latest funding date
12/01/2021
Location
Pear Therapeutics has successfully raised funds through various rounds, with its last funding type being Post-IPO Equity.
Keep reading to explore the intricacies of Pear Therapeutics' fundraising journey and the investors backing this innovative platform.
What Is Pear Therapeutics?
Pear Therapeutics, founded in 2013, is a biotechnology company based in Boston, Massachusetts. The company specializes in software-based digital therapeutics, combining digital interventions with pharmaceuticals to enhance treatment efficacy.
The company was founded by Stephen Smith, Walter Greenleaf, and William Greene. With an employee count ranging from 251 to 500, Pear Therapeutics has made significant strides in the mHealth and pharmaceutical industries.
How Much Funding Has Pear Therapeutics Raised?
- Round Name: Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2015
- Lead Investors: 5AM Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and initial market entry.
- Round Name: Series A
- Amount Raised: $20M
- Date: February 2016
- Lead Investors: 5AM Ventures, Arboretum Ventures, Jazz Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance product development and clinical trials.
- Round Name: Series B
- Amount Raised: $50M
- Date: January 2018
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product pipeline and scale operations.
- Round Name: Series C
- Amount Raised: $64M
- Date: January 2019
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate commercialization and market reach.
- Round Name: Debt Financing
- Amount Raised: $50M
- Date: July 2020
- Lead Investors: Perceptive Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product development.
- Round Name: Series D
- Amount Raised: $80M
- Date: December 2020
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance digital therapeutics platform and expand market presence.
- Round Name: Series D
- Amount Raised: $20M
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize new products.
- Round Name: Post-IPO Equity
- Amount Raised: $125M
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: $1.6 billion
- Motivation Behind the Round: To accelerate commercialization and expand payer adoption.
Total Amount Raised: $409M. Current Valuation: $1.6 billion.
Key Investors
- 5AM Ventures
- Details: 5AM Ventures is a venture capital firm focused on building next-generation life science companies. They have a strong track record of investing in early-stage biotechnology and healthcare companies.
- Investment Focus Areas: Biotechnology, healthcare, life sciences
- Notable Investments: Homology Medicines, Audentes Therapeutics, IDEAYA Biosciences
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They manage a diversified portfolio across various sectors and geographies.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate
- Notable Investments: Alibaba Group, Gilead Sciences, Airbnb
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused venture capital funds in the world. It is known for making substantial investments in innovative technology companies.
- Investment Focus Areas: Artificial intelligence, robotics, telecommunications, e-commerce, biotechnology
- Notable Investments: Uber, WeWork, ByteDance
- Perceptive Advisors
- Details: Perceptive Advisors is an investment management firm specializing in the healthcare sector. They focus on identifying and investing in innovative healthcare companies.
- Investment Focus Areas: Biotechnology, pharmaceuticals, medical devices, healthcare services
- Notable Investments: Axsome Therapeutics, CRISPR Therapeutics, Solid Biosciences
- Arboretum Ventures
- Details: Arboretum Ventures is a venture capital firm that invests in early to growth-stage healthcare companies. They focus on companies that improve the quality and efficiency of healthcare.
- Investment Focus Areas: Medical devices, diagnostics, healthcare IT, healthcare services
- Notable Investments: Health Scholars, NeuMoDx Molecular, NxThera
What's Next for Pear Therapeutics?
With the recent SPAC deal, Pear Therapeutics is poised to expand its FDA-approved digital therapeutics, including reSET, reSET-O, and Somryst. The company is also developing new products like reSET-A for alcohol use disorder, tapping into a significant market opportunity. As a publicly traded company, Pear can leverage its status to raise additional capital, attracting investments from institutional and private investors.
However, Pear faces challenges such as navigating regulatory hurdles and competing with other digital health companies. Ensuring data privacy and achieving widespread adoption and reimbursement from payers are also critical hurdles. Despite these challenges, the growing demand for digital health solutions and telemedicine presents a promising future for Pear Therapeutics.
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