ElevateBio valuation, funding and investors

ElevateBio works in genetic medicine manufacturing, based in Waltham, United States. Founded in 2017, it has about 450 employees.

Pharmaceutical Products Series D

VALUATION · TODAY

$2.38B −30% after Series D

Range $693M – $9.88B · Grade D

TODAY

+12 MO

$2.50B

$5.00B

$7.50B

$10.00B

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Series A $150M

Series B $170M

Series C $525M

Series D $401M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY450 employees

−12%6m growth

−15%1y growth

−12%2y growth

250

500

750

Data from Jan 2021

TODAY

Predicted in 1 yr $1.65B −30% vs today

Predicted next raise $720M if a round comes

Winding-down probability 79%

Last round: Series D · $401M · May 2023
Valuation at last round: $5.01B · implied
Headcount: 450 · down
Grade: D
Founded: 2017

How VCMC values companies →

ElevateBio valuation today

VCMC values ElevateBio at $2.4B today, with a range of $693M to $9.9B and a grade of D. The valuation starts from its last funding round, a Series D round in May 2023.

Valuation by date (123 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

ElevateBio: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2017	$6.60M	$2.40M – $18.1M	$9.05M (+37%)	before first round	–	unknown	D	0%
1 Feb 2017	$6.78M	$2.47M – $18.6M	$9.29M (+37%)	before first round	–	unknown	D	0%
1 Mar 2017	$6.94M	$2.53M – $19.1M	$9.52M (+37%)	before first round	–	unknown	D	0%
1 Apr 2017	$7.13M	$2.60M – $19.6M	$9.78M (+37%)	before first round	–	unknown	D	0%
1 May 2017	$7.32M	$2.67M – $20.1M	$10.0M (+37%)	before first round	–	unknown	D	0%
1 Jun 2017	$7.52M	$2.74M – $20.7M	$10.3M (+37%)	before first round	–	unknown	D	0%
1 Jul 2017	$7.72M	$2.81M – $21.2M	$10.6M (+37%)	before first round	–	unknown	D	0%
1 Aug 2017	$7.93M	$2.89M – $21.8M	$10.9M (+37%)	before first round	–	unknown	D	0%
1 Sep 2017	$8.14M	$2.96M – $22.4M	$11.2M (+37%)	before first round	–	unknown	D	0%
1 Oct 2017	$8.36M	$3.04M – $23.0M	$11.5M (+37%)	before first round	–	unknown	D	0%
1 Nov 2017	$8.58M	$3.12M – $23.6M	$11.8M (+37%)	before first round	–	unknown	D	0%
1 Dec 2017	$8.81M	$3.21M – $24.2M	$12.1M (+37%)	before first round	–	unknown	D	0%
1 Jan 2018	$9.05M	$3.29M – $24.9M	$12.4M (+37%)	before first round	–	unknown	D	0%
1 Feb 2018	$9.29M	$3.38M – $25.5M	$12.7M (+37%)	before first round	–	unknown	D	0%
1 Mar 2018	$9.52M	$3.47M – $26.2M	$13.1M (+37%)	before first round	–	unknown	D	0%
1 Apr 2018	$9.78M	$3.56M – $26.9M	$13.4M (+37%)	before first round	–	unknown	D	0%
1 May 2018	$10.0M	$3.65M – $27.6M	$13.8M (+37%)	before first round	–	unknown	D	0%
1 Jun 2018	$10.3M	$3.75M – $28.3M	$14.1M (+37%)	before first round	–	unknown	D	0%
1 Jul 2018	$10.6M	$3.85M – $29.1M	$14.5M (+37%)	before first round	–	unknown	D	0%
1 Aug 2018	$10.9M	$3.96M – $29.9M	$14.7M (+35%)	before first round	–	unknown	D	0%
1 Sep 2018	$11.2M	$4.06M – $30.7M	$14.8M (+32%)	before first round	–	unknown	D	0%
1 Oct 2018	$11.5M	$4.17M – $31.5M	$14.9M (+30%)	before first round	–	unknown	D	0%
1 Nov 2018	$11.8M	$4.28M – $32.3M	$15.1M (+28%)	before first round	–	unknown	D	0%
1 Dec 2018	$12.1M	$4.40M – $33.2M	$15.2M (+26%)	before first round	–	unknown	D	0%
1 Jan 2019	$12.4M	$4.52M – $34.1M	$15.3M (+24%)	before first round	–	unknown	D	0%
1 Feb 2019	$12.7M	$4.64M – $35.0M	$15.5M (+21%)	before first round	–	unknown	D	0%
1 Mar 2019	$13.1M	$4.75M – $35.9M	$15.6M (+19%)	before first round	–	unknown	D	0%
1 Apr 2019	$13.4M	$4.88M – $36.8M	$15.7M (+17%)	before first round	–	unknown	D	0%
1 May 2019	$13.8M	$5.01M – $37.8M	$15.9M (+15%)	before first round	–	unknown	D	0%
15 May 2019	$835M	$548M – $2.3B	$1.5B (+80%)	after a round	–	unknown	C	0%
1 Jun 2019	$858M	$548M – $2.3B	$1.5B (+75%)	after a round	–	unknown	C	0%
1 Jul 2019	$900M	$548M – $2.3B	$1.5B (+67%)	after a round	–	unknown	C	0%
1 Aug 2019	$946M	$548M – $2.3B	$1.5B (+59%)	after a round	–	unknown	C	0%
1 Sep 2019	$995M	$548M – $2.3B	$1.5B (+51%)	after a round	–	unknown	C	0%
1 Oct 2019	$1.0B	$548M – $2.3B	$1.5B (+44%)	after a round	–	unknown	C	0%
1 Nov 2019	$1.1B	$548M – $2.3B	$1.5B (+37%)	after a round	–	unknown	C	0%
1 Dec 2019	$1.2B	$548M – $2.3B	$1.5B (+30%)	after a round	–	unknown	C	0%
1 Jan 2020	$1.2B	$548M – $2.3B	$1.5B (+24%)	after a round	–	unknown	C	0%
1 Feb 2020	$1.3B	$548M – $2.3B	$1.5B (+18%)	after a round	–	unknown	C	0%
1 Mar 2020	$1.3B	$548M – $2.3B	$1.5B (+13%)	after a round	–	unknown	C	0%
31 Mar 2020	$1.3B	$922M – $2.8B	$2.0B (+50%)	after a round	–	unknown	B	0%
1 Apr 2020	$1.3B	$922M – $2.8B	$2.0B (+50%)	after a round	–	unknown	B	0%
1 May 2020	$1.4B	$922M – $2.8B	$2.0B (+45%)	after a round	–	unknown	B	0%
1 Jun 2020	$1.4B	$922M – $2.8B	$2.0B (+40%)	after a round	–	unknown	B	0%
1 Jul 2020	$1.5B	$922M – $2.8B	$2.0B (+35%)	after a round	–	unknown	B	0%
1 Aug 2020	$1.5B	$922M – $2.8B	$2.0B (+31%)	after a round	–	unknown	B	0%
1 Sep 2020	$1.6B	$922M – $2.8B	$2.0B (+26%)	after a round	–	unknown	B	0%
1 Oct 2020	$1.6B	$922M – $2.8B	$2.0B (+22%)	after a round	–	unknown	B	0%
1 Nov 2020	$1.7B	$922M – $2.8B	$2.0B (+18%)	after a round	–	unknown	B	0%
1 Dec 2020	$1.7B	$922M – $2.8B	$2.0B (+14%)	after a round	–	unknown	B	0%
1 Jan 2021	$1.8B	$922M – $2.8B	$2.0B (+10%)	after a round	99	unknown	B	0%
1 Feb 2021	$1.8B	$922M – $2.8B	$2.0B (+7%)	after a round	99	unknown	B	0%
1 Mar 2021	$1.9B	$922M – $2.8B	$2.0B (+3%)	after a round	99	unknown	B	0%
16 Mar 2021	$3.5B	$2.5B – $6.5B	$4.6B (+30%)	after a round	99	unknown	B	0%
1 Apr 2021	$3.6B	$2.5B – $6.5B	$4.6B (+28%)	after a round	99	flat	B	0%
1 May 2021	$3.6B	$2.5B – $6.5B	$4.6B (+26%)	after a round	99	flat	B	0%
1 Jun 2021	$3.7B	$2.5B – $6.5B	$4.6B (+23%)	after a round	99	flat	B	0%
1 Jul 2021	$3.8B	$2.5B – $6.5B	$4.6B (+20%)	after a round	99	flat	B	0%
1 Aug 2021	$3.9B	$2.5B – $6.5B	$4.6B (+18%)	after a round	99	flat	B	0%
1 Sep 2021	$4.0B	$2.5B – $6.5B	$4.6B (+15%)	after a round	99	flat	B	0%
1 Oct 2021	$4.1B	$2.5B – $6.5B	$4.6B (+13%)	after a round	99	flat	B	0%
1 Nov 2021	$4.2B	$2.5B – $6.5B	$4.6B (+10%)	after a round	99	flat	B	0%
1 Dec 2021	$4.3B	$2.5B – $6.5B	$4.6B (+8%)	after a round	99	flat	B	0%
1 Jan 2022	$5.3B	$3.2B – $8.4B	$5.9B (+11%)	after a round	320	growing	B	0%
1 Feb 2022	$5.6B	$3.2B – $8.4B	$5.9B (+6%)	after a round	320	growing	B	0%
1 Mar 2022	$5.8B	$3.2B – $8.4B	$5.9B (+2%)	after a round	320	growing	B	0%
1 Apr 2022	$5.9B	$3.2B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 May 2022	$5.9B	$3.2B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 Jun 2022	$5.9B	$3.3B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 Jul 2022	$5.9B	$3.3B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 Aug 2022	$5.9B	$3.3B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 Sep 2022	$5.9B	$3.3B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 Oct 2022	$5.9B	$3.3B – $8.4B	$5.9B (0%)	after a round	320	growing	B	0%
1 Nov 2022	$5.9B	$2.3B – $8.4B	$5.9B (0%)	after a round	320	unknown	C	0%
1 Dec 2022	$5.9B	$2.2B – $8.4B	$5.9B (0%)	after a round	320	unknown	C	0%
1 Jan 2023	$5.9B	$2.1B – $8.4B	$5.9B (0%)	after a round	320	unknown	C	0%
1 Feb 2023	$5.9B	$2.0B – $8.4B	$5.9B (0%)	after a round	320	unknown	C	0%
1 Mar 2023	$5.9B	$1.9B – $8.4B	$5.9B (0%)	after a round	320	unknown	C	0%
1 Apr 2023	$6.4B	$3.5B – $9.0B	$6.4B (0%)	after a round	440	growing	B	0%
1 May 2023	$6.4B	$3.5B – $9.0B	$6.4B (0%)	after a round	440	growing	B	0%
25 May 2023	$5.0B	$3.3B – $9.9B	$6.5B (+30%)	after a round	440	growing	B	0%
1 Jun 2023	$5.0B	$3.3B – $9.9B	$6.5B (+29%)	after a round	440	growing	B	0%
1 Jul 2023	$5.2B	$3.3B – $9.9B	$6.5B (+26%)	after a round	440	growing	B	0%
1 Aug 2023	$5.3B	$3.3B – $9.9B	$6.5B (+24%)	after a round	440	unknown	B	0%
1 Sep 2023	$5.4B	$3.3B – $9.9B	$6.5B (+21%)	after a round	440	unknown	B	0%
1 Oct 2023	$5.5B	$3.4B – $10.2B	$6.7B (+20%)	after a round	490	up	B	0%
1 Nov 2023	$5.7B	$3.4B – $10.2B	$6.7B (+17%)	after a round	490	up	B	0%
1 Dec 2023	$5.8B	$3.4B – $10.2B	$6.7B (+15%)	after a round	490	up	B	0%
1 Jan 2024	$6.0B	$3.4B – $10.2B	$6.7B (+12%)	after a round	490	up	B	0%
1 Feb 2024	$6.1B	$3.4B – $10.2B	$6.7B (+9%)	after a round	490	up	B	0%
1 Mar 2024	$6.2B	$3.3B – $10.0B	$6.6B (+6%)	after a round	460	flat	B	0%
1 Apr 2024	$6.3B	$3.3B – $10.0B	$6.6B (+4%)	after a round	460	flat	B	0%
1 May 2024	$6.5B	$3.3B – $10.0B	$6.6B (+2%)	after a round	460	flat	B	0%
1 Jun 2024	$6.6B	$3.3B – $10.0B	$6.6B (0%)	after a round	460	flat	B	0%
1 Jul 2024	$6.7B	$3.3B – $10.2B	$6.7B (0%)	after a round	500	up	B	0%
1 Aug 2024	$6.7B	$3.3B – $10.2B	$6.7B (0%)	after a round	510	up	B	0%
1 Sep 2024	$6.7B	$3.3B – $10.2B	$6.7B (0%)	after a round	510	up	B	0%
1 Oct 2024	$6.7B	$3.2B – $10.2B	$6.7B (0%)	after a round	510	up	B	0%
1 Nov 2024	$7.0B	$3.3B – $10.6B	$7.0B (0%)	after a round	590	up	B	0%
1 Dec 2024	$7.0B	$3.3B – $10.6B	$7.0B (0%)	after a round	590	up	B	0%
1 Jan 2025	$7.0B	$3.3B – $10.7B	$7.0B (0%)	after a round	610	up	B	0%
1 Feb 2025	$7.0B	$3.2B – $10.7B	$7.0B (0%)	after a round	610	up	B	0%
1 Mar 2025	$7.0B	$3.2B – $10.7B	$7.0B (0%)	after a round	610	up	C	0%
1 Apr 2025	$7.0B	$3.2B – $10.7B	$7.0B (0%)	after a round	610	up	C	0%
1 May 2025	$7.0B	$3.1B – $10.7B	$7.0B (0%)	after a round	610	up	C	0%
1 Jun 2025	$7.0B	$2.8B – $10.7B	$7.0B (0%)	after a round	610	up	C	0%
1 Jul 2025	$7.0B	$2.8B – $10.7B	$7.0B (0%)	after a round	610	up	C	0%
1 Aug 2025	$6.8B	$2.6B – $10.3B	$6.7B (-1%)	after a round	529	up	C	0%
1 Sep 2025	$6.8B	$2.6B – $10.3B	$6.7B (-1%)	after a round	529	up	C	0%
1 Oct 2025	$6.8B	$1.5B – $10.3B	$6.6B (-3%)	after a round	529	flat	C	0%
1 Nov 2025	$6.8B	$1.4B – $10.3B	$6.6B (-3%)	after a round	529	flat	C	0%
1 Dec 2025	$6.5B	$1.4B – $10.2B	$6.1B (-7%)	after a round	514	flat	D	4%
1 Jan 2026	$6.5B	$1.3B – $10.2B	$6.0B (-8%)	after a round	514	flat	D	4%
1 Feb 2026	$5.2B	$1.2B – $10.1B	$4.2B (-19%)	after a round	514	flat	D	35%
1 Mar 2026	$3.5B	$1.2B – $10.0B	$2.3B (-34%)	after a round	514	down	D	84%
1 Apr 2026	$3.4B	$1.1B – $10.1B	$2.2B (-35%)	after a round	514	down	D	84%
1 May 2026	$2.9B	$1.1B – $10.1B	$1.8B (-39%)	after a round	487	down	D	97%
1 Jun 2026	$2.6B	$1.0B – $10.1B	$1.6B (-37%)	after a round	487	down	D	97%
1 Jul 2026	$2.5B	$953M – $10.1B	$1.6B (-37%)	after a round	487	down	D	97%
1 Aug 2026	$2.6B	$898M – $10.0B	$1.7B (-35%)	after a round	469	down	D	89%
1 Sep 2026	$2.7B	$853M – $10.0B	$1.8B (-34%)	after a round	469	down	D	82%
1 Oct 2026	$2.7B	$805M – $9.9B	$1.8B (-33%)	after a round	450	down	D	79%
24 Oct 2026	$2.4B	$693M – $9.9B	$1.7B (-30%)	after a round	450	down	D	79%

Key facts about ElevateBio

Founded: 2017
Headquarters: Waltham, United States
Employees: about 450 -15% in a year
Total raised: $1.25B
Funding rounds: 4
Last round: Series D May 2023

ElevateBio was founded in 2017 by Mitchell Finer.

ElevateBio funding history

ElevateBio has 4 funding rounds on record, from May 2019 to May 2023, $1.25B in total. None disclosed a valuation.

Series D 24 May 2023
Led by AyurMaya Capital Management, Matrix Capital Management; with Woodline Partners, Lee Family Office, Novo Holdings, Invus, Emerson Collective, SoftBank Vision Fund, Fidelity Management & Research Company, MPM Capital, F2 Venture Capital, Redmile Group, EcoR1 Capital, Samsara BioCapital, Citadel, EDBI, Vertex Ventures, iTochu, SoftBank, Fidelity.
Sources: elevate.bio, goodwinlaw.com
$401M
Series C 15 Mar 2021
Led by Matrix Capital Management; with SoftBank Vision Fund, Fidelity Management and Research Company, MPM Capital, F2 Venture Capital, Redmile Group, EcoR1 Capital, Samsara BioCapital, Invus, Emerson Collective, Citadel, EDBI, Vertex Ventures, iTochu, SoftBank, Fidelity Management & Research Company.
Sources: elevate.bio, biopharmadive.com, biospace.com
$525M
Series B 30 Mar 2020
With Invus, Citadel, EDBI, Vertex Ventures, F2 Venture Capital, MPM Capital, EcoR1 Capital, Redmile Group, Samsara BioCapital.
Sources: elevate.bio, techcrunch.com, globalgenes.org and 1 more
$170M
Series A 14 May 2019
With UBS Oncology Impact Fund, MPM Capital, F2 Venture Capital, EcoR1 Capital, Redmile Group, Samsara BioCapital.
Sources: medcitynews.com, goodwinlaw.com, pharmaceutical-technology.com
$150M

ElevateBio investors

22 investors have backed ElevateBio; Matrix Capital Management and AyurMaya Capital Management led at least one round.

Matrix Capital Management lead, 2 rounds
AyurMaya Capital Management lead
MPM Capital 4 rounds
Redmile Group 4 rounds
EDBI 3 rounds
Invus 3 rounds
Vertex Ventures 3 rounds
Emerson Collective 2 rounds
Fidelity Management & Research Company 2 rounds
iTochu 2 rounds
SoftBank 2 rounds
SoftBank Vision Fund 2 rounds
Fidelity
Fidelity Management and Research Company
Lee Family Office
UBS Oncology Impact Fund

What ElevateBio does

ElevateBio works in pharmaceutical products, with 14 recorded offerings and customers in biotechnology and healthcare.

ElevateBio is a United States biotechnology company engaged in the development and manufacturing of genetic medicines, including cell and gene therapies. The company operates through two main business units: ElevateBio BaseCamp, which provides cGMP manufacturing and process development services for clinical and commercial cell and gene therapy production, and ElevateBio Life Edit, which develops gene editing technologies and conducts research and development in gene editing and therapeutic delivery platforms. ElevateBio also offers analytical development, quality control, regulatory CMC services, and next-generation sequencing. The company collaborates with biopharmaceutical partners to support the development of therapeutics and is certified for clinical and commercial cell and gene therapy manufacturing.

Description from Veridion's company data.

Products and services

Genetic Medicine Manufacturing
Cell and Gene Therapy Manufacturing
Gene Editing Technology Development
RNA-Guided Nuclease Manufacturing
Base Editor Manufacturing
Reverse Transcriptase Editor Manufacturing
Cell Engineering Technology Development
Therapeutic Delivery Platform Development
Genetic Medicine Process Development
Genetic Medicine Analytical Development
Genetic Medicine Quality Control and Testing
Genetic Medicine Regulatory CMC Services
Genetic Medicine Next-Generation Sequencing Services
Biopharmaceutical Partnership Development

Markets

Biotechnology
Healthcare

Technology

Gene Editing Technologies
RNA-Guided Nucleases
Base Editors
Reverse Transcriptase (RT) Editors
Next-Generation Sequencing

Certifications

ICMC certified
cGMP compliant

Business model

Business-to-Business
Manufacturing
Enterprise

Industry codes (NAICS)

325414 Biological Product (except Diagnostic) Manufacturing 60% match
541714 Research and Development in Biotechnology (except Nanobiotechnology) 40% match

Questions about ElevateBio

What is ElevateBio worth?

Valuation $2.4B (range $693M to $9.9B), as of 24 Oct 2026.

Has ElevateBio raised money?

ElevateBio has 4 funding rounds on record, from May 2019 to May 2023, $1.25B in total. None disclosed a valuation.

Who has invested in ElevateBio?

Matrix Capital Management, AyurMaya Capital Management, EcoR1 Capital, F2 Venture Capital, MPM Capital and Redmile Group, and 16 more. Lead investors include Matrix Capital Management and AyurMaya Capital Management.

How many people work at ElevateBio?

About 450, down 15% over the last year. Headcount rose from 99 in Jan 2021 to 610 in Jan 2025, then fell to 450 in Sep 2026.

What does ElevateBio do?

ElevateBio works in pharmaceutical products, with 14 recorded offerings and customers in biotechnology and healthcare. Its main offerings are genetic medicine manufacturing, cell and gene therapy manufacturing and gene editing technology development.

When was ElevateBio founded, and where is it based?

ElevateBio was founded in 2017 and is based in Waltham, United States. It has about 450 employees, down 15% over the last year.

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