Total amount raised
$134.9 Millions
Latest funding date
02/01/2024
Location
Unlearn.AI has successfully raised $50 million in a Series C funding round, marking its second $50 million venture capital round. The company leverages AI and digital twin technology to enhance the efficiency and effectiveness of clinical trials.
Keep reading to explore the intricacies of Unlearn.AI's fundraising journey and the investors backing this innovative platform.
What Is Unlearn.AI?
Unlearn.AI, founded in 2017, is a biotech AI company based in San Francisco, California. The company specializes in using artificial intelligence and digital twin technology to enhance clinical trials.
Founded by Aaron Smith, Charles Fisher, Graham Siegel, and Jonathan Walsh, Unlearn.AI employs between 51 and 100 people. The company’s platform allows for the simulation of clinical outcomes for every participant at the beginning of a study, thereby minimizing trial failure, cutting costs, and accelerating timelines.
How Much Funding Has Unlearn.AI Raised?
- Pre-Seed Round
- Amount Raised: $650K
- Date: August 2017
- Lead Investors: DCVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial AI models for clinical trials.
- Seed Round
- Amount Raised: $4.2M
- Date: March 2019
- Lead Investors: DCVC Bio
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI technology and validate the digital twin concept.
- Series A Round
- Amount Raised: $12M
- Date: April 2020
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance AI capabilities for clinical trials.
- Series A Round
- Amount Raised: $3M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and improve AI models.
- Series B Round
- Amount Raised: $50M
- Date: April 2022
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand into new therapeutic areas.
- Venture Round
- Amount Raised: $15M
- Date: March 2023
- Lead Investors: Radical Ventures, Wittington Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Series C Round
- Amount Raised: $50M
- Date: February 2024
- Lead Investors: Altimeter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance AI technology and expand capabilities into more therapeutic areas.
Unlearn.AI has raised a total of $134.85M. The current valuation is not publicly disclosed.
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm based in Menlo Park, California. They specialize in growth-stage investments in the technology, healthcare, and life sciences sectors.
- Investment Focus Areas: Technology, healthcare, life sciences
- Notable Investments: Snowflake, Unity Technologies, Roblox
- Radical Ventures
- Details: Radical Ventures is a venture capital firm that invests in companies leveraging artificial intelligence and machine learning. They are based in Toronto, Canada, and focus on transformative technologies.
- Investment Focus Areas: Artificial intelligence, machine learning
- Notable Investments: Cohere, Waabi, Xanadu
- Wittington Ventures
- Details: Wittington Ventures is an early-stage venture capital firm that invests in technology and healthcare companies. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology, healthcare
- Notable Investments: Not specified
- Mubadala Capital
- Details: Mubadala Capital is the financial investment arm of Mubadala Investment Company, based in Abu Dhabi. They manage a diverse portfolio across various sectors, including technology and healthcare.
- Investment Focus Areas: Technology, healthcare, diversified sectors
- Notable Investments: Waymo, Medallia, C3.ai
- Epic Ventures
- Details: Epic Ventures is a venture capital firm that focuses on early-stage technology companies. They are based in Salt Lake City, Utah, and have a history of successful investments in tech startups.
- Investment Focus Areas: Early-stage technology
- Notable Investments: Instructure, Ancestry.com, Domo
What's Next for Unlearn.AI?
Unlearn.AI stands at the cusp of a transformative era in clinical research. With its AI-powered digital twin technology, the company is poised to revolutionize how clinical trials are conducted. The opportunity to reduce trial sizes and durations while improving patient outcomes is immense, given the pharmaceutical industry's annual $100 billion expenditure on clinical research. This technology not only promises efficiency but also opens doors to partnerships with pharmaceutical companies, biotech firms, and academic institutions.
Future fundraising appears promising, especially with the successful Series C round led by Altimeter Capital. As Unlearn.AI continues to demonstrate the value of its technology, additional venture capital rounds or strategic partnerships are likely. However, challenges such as industry skepticism and regulatory constraints could pose hurdles. Ensuring the accuracy and reliability of AI-generated digital twins will be crucial for broader acceptance and success.
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