Total amount raised
$409 Million
Latest funding date
12/01/2021
Location
Pear Therapeutics has raised funds over 8 rounds, with the latest being a Post-IPO Equity round. The company is backed by 22 investors, including Trustbridge Partners and Pritzker/Vlock Family Office.
Keep reading to explore the intricacies of Pear Therapeutics' fundraising journey and the investors backing this innovative platform.
What Is Pear Therapeutics?
Pear Therapeutics, based in Boston, Massachusetts, was a software-based digital therapeutics platform designed to treat diseases and enhance the efficacy of pharmaceuticals. The company operated in multiple industries, including biotechnology, mHealth, pharmaceuticals, software, and therapeutics.
With an employee count ranging from 251 to 500, Pear Therapeutics had a significant presence in its field. Despite its innovative approach, the company has since closed its operations.
How Much Funding Has Pear Therapeutics Raised?
- Round Name: Series A
- Amount Raised: USD 20,000,000
- Date: February 2016
- Lead Investors: 5AM Ventures, Arboretum Ventures, Jazz Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and commercialize their digital therapeutics platform.
- Round Name: Series B
- Amount Raised: USD 50,000,000
- Date: January 2018
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale operations.
- Round Name: Series C
- Amount Raised: USD 64,000,000
- Date: January 2019
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their digital therapeutics and enhance market reach.
- Round Name: Debt Financing
- Amount Raised: USD 50,000,000
- 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: USD 80,000,000
- Date: December 2020
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand their therapeutic offerings.
- Round Name: Series D
- Amount Raised: USD 20,000,000
- Date: March 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling their digital therapeutics platform.
- Round Name: Post-IPO Equity
- Amount Raised: USD 125,000,000
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further commercialize their FDA-authorized PDTs and expand payer adoption.
Total Amount Raised: USD 409,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Trustbridge Partners
- Details: Trustbridge Partners is a private equity firm that invests in growth-stage companies. They focus on long-term investments and have a strong presence in the healthcare and technology sectors.
- Investment Focus Areas: Healthcare, technology, consumer services
- Notable Investments: Not publicly disclosed
- Pritzker/Vlock Family Office
- Details: The Pritzker/Vlock Family Office is a private investment firm that manages the assets of the Pritzker and Vlock families. They are known for their diversified investment portfolio and strategic investments in innovative companies.
- Investment Focus Areas: Real estate, healthcare, technology
- Notable Investments: Not publicly disclosed
- 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 significant investments in high-growth technology companies.
- Investment Focus Areas: Technology, telecommunications, artificial intelligence
- Notable Investments: Uber, WeWork, ByteDance
- Perceptive Advisors
- Details: Perceptive Advisors is a hedge fund focused on the healthcare sector. They invest in both public and private companies, with a strong emphasis on biotechnology and life sciences.
- Investment Focus Areas: Biotechnology, pharmaceuticals, medical devices
- Notable Investments: Not publicly disclosed
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company with a diverse portfolio spanning various industries. They are known for their strategic investments in innovative and high-growth companies.
- Investment Focus Areas: Financial services, telecommunications, healthcare
- Notable Investments: Alibaba, Gojek, Moderna
What's Next for Pear Therapeutics?
With the recent SPAC deal, Pear Therapeutics is poised to expand its FDA-approved digital therapeutics portfolio. The company aims to address unmet needs in conditions like alcohol use disorder, a market affecting millions in the US. This expansion offers significant growth potential, especially as digital health solutions gain traction.
As a publicly traded company, Pear Therapeutics can leverage the stock market for future fundraising. This financial flexibility will support the commercialization of existing products and the development of new ones. However, navigating regulatory landscapes and achieving widespread payer adoption remain challenges.
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