Funding round
ElevateBio Series A
ElevateBio, which works in genetic medicine manufacturing in Waltham, raised $150M in a Series A round announced on 14 May 2019. 6 firms took part. It is ElevateBio's first venture round on record.
$150M
Amount raised
Not disclosed
Post-money valuation
6
Investors
no lead named
Valuation
What this round says about the price
ElevateBio did not disclose a valuation in this round. It is ElevateBio's first venture round on record, 2 years after it was founded in 2017. It is 12% of the $1.25B ElevateBio has raised in the venture rounds on record. ElevateBio raised again 10 months later: a Series B round of $170M in Mar 2020.
ElevateBio's funding rounds
ElevateBio has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
6 firms took part; no lead investor was named.
Investors
- UBS Oncology Impact Fund new investor
- MPM Capital new investor
- backs 26 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- Redmile Group new investor
- backs 20 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
70 Series A rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $12M, and this round was 13 times the median. The closest in time, other companies' Series A rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 1 May 2019 | $31M | not disclosed | Qbic |
| Pharmaceutical Products | 16 May 2019 | $7.3M | not disclosed | Thuja Capital |
| Pharmaceutical Products | 6 May 2019 | $5.6M | not disclosed | Savoir Capital and Camden Partners |
| Pharmaceutical Products | 31 May 2019 | $4.1M | not disclosed | not named |
| Pharmaceutical Products | 13 May 2019 | $4.0M | $180M | not named |
| Pharmaceutical Products | 17 Apr 2019 | $27M | not disclosed | F-Prime Capital and Canaan |
| Pharmaceutical Products | 25 Apr 2019 | $15M | not disclosed | not named |
| Pharmaceutical Products | 1 Apr 2019 | $8.1M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did ElevateBio raise in its Series A round?
ElevateBio raised $150M in its Series A round, announced in May 2019.
Which investors took part in ElevateBio's Series A round?
UBS Oncology Impact Fund, MPM Capital, F2 Venture Capital, EcoR1 Capital, Redmile Group and Samsara BioCapital.
What was ElevateBio's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Pharmaceutical Products?
70 Series A rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $12M, and this round was 13 times the median.
Did ElevateBio raise again after this round?
Yes: a Series B round in Mar 2020 of $170M.