Total amount raised
$99.1 Million
Latest funding date
04/01/2021
Location
TetraScience has successfully raised funding through nine rounds, with Alkeon Capital and Insight Partners among its most recent investors. The company specializes in R&D cloud data management, empowering transformation in life sciences and drug discovery.
Keep reading to explore the intricacies of TetraScience's fundraising journey and the investors backing this innovative platform.
What Is TetraScience?
TetraScience, based in Boston, Massachusetts, is a pioneering company in the field of scientific data and AI platforms. The company specializes in R&D cloud data management, focusing on life sciences and drug discovery. With a workforce of 101-250 employees, TetraScience is dedicated to transforming raw scientific data into AI-native data, enabling advanced lab automation and scientific outcomes.
Founded to revolutionize scientific data management, TetraScience offers a suite of next-generation lab data management solutions. The platform is designed to break down data silos, ensuring data liquidity and collaboration among scientific customers and their partners. The company collaborates with industry leaders like Thermo Fisher Scientific to accelerate scientific data and AI enablement.
How Much Funding Has TetraScience Raised?
- Pre-Seed Round
- Amount Raised: USD 120,000
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for R&D data management solutions.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and start building a customer base.
- Grant
- Amount Raised: USD 25,000
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage research and development activities.
- Series A Round
- Amount Raised: USD 8,000,000
- Date: October 2019
- Lead Investors: Waters Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand market reach.
- Series A Round
- Amount Raised: USD 11,000,000
- Date: May 2020
- Lead Investors: Underscore VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and accelerate growth.
- Series B Round
- Amount Raised: USD 80,000,000
- Date: April 2021
- Lead Investors: Alkeon Capital, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To ramp up go-to-market capabilities, expand technical capabilities, and grow the team of scientific experts.
Total Amount Raised: USD 99,145,000. Current Valuation: Not publicly disclosed.
Key Investors
- Alkeon Capital
- Details: Alkeon Capital is a global multi-billion dollar investment firm that invests in private and public growth and technology companies. With over two decades of experience, Alkeon focuses on People and Innovation, helping disruptive private companies expand their market, scale efficiently, and transition to public markets.
- Investment Focus Areas: Private and public growth, technology companies, category definers
- Notable Investments: Benchling, TetraScience
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies. Founded in 1995, Insight Partners has invested in over 400 companies worldwide and raised more than $30 billion in capital commitments.
- Investment Focus Areas: High-growth technology, software ScaleUp companies, enterprise companies
- Notable Investments: Insightful Science, TetraScience
- Underscore VC
- Details: Underscore VC is a venture capital firm that focuses on backing bold entrepreneurs who are building the next generation of iconic companies. The firm is known for its community-driven approach to venture capital.
- Investment Focus Areas: Technology, software, early-stage startups
- Notable Investments: Not publicly disclosed
- Waters Corporation
- Details: Waters Corporation is a publicly traded analytical laboratory instrument and software company. It specializes in technologies that are used in the pharmaceutical, health sciences, and food and environmental industries.
- Investment Focus Areas: Analytical instruments, laboratory software, health sciences
- Notable Investments: Not publicly disclosed
- Digital Science
- Details: Digital Science is a technology company that invests in and supports innovative businesses and technologies that make all parts of the research process more open and efficient. It provides software and services to researchers and research organizations.
- Investment Focus Areas: Research technology, data management, scientific software
- Notable Investments: Not publicly disclosed
What's Next for TetraScience?
With the $300 billion experimental data cloud market in sight, TetraScience is poised to capitalize on significant opportunities. The company plans to expand its go-to-market capabilities, enhance technical features, and grow its team of scientific experts. This strategic focus aims to transform global R&D from a project-based IT model to a product- and network-based paradigm, positioning TetraScience as a leader in the industry.
Future fundraising opportunities appear promising, given the strong backing from Insight Partners and Alkeon Capital. The company’s rapid growth and increasing demand for its solutions suggest potential for additional funding rounds to support further expansion and technological advancements. However, TetraScience may face challenges such as competition from other data cloud platforms, ensuring data security, and adapting to rapid advancements in AI and data science technologies.
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