Funding round
ElevateBio Series B
ElevateBio, which works in genetic medicine manufacturing in Waltham, raised $170M in a Series B round announced on 30 Mar 2020. 9 firms took part. It is ElevateBio's second venture round on record; the one before was a Series A in May 2019.
$170M
Amount raised
Not disclosed
Post-money valuation
9
Investors
no lead named
Valuation
What this round says about the price
ElevateBio did not disclose a valuation in this round. It came 10 months after ElevateBio's Series A. It is 14% of the $1.25B ElevateBio has raised in the venture rounds on record. ElevateBio raised again 12 months later: a Series C round of $525M in Mar 2021.
ElevateBio's funding rounds
ElevateBio has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
9 firms took part; no lead investor was named.
Investors
- Invus backs 83 venture-backed companies new investor
- backs 26 venture-backed companies new investor
- EDBI backs 67 venture-backed companies new investor
- Vertex Ventures new investor
- backs 26 venture-backed companies new investor
- MPM Capital new investor
- backs 14 venture-backed companies new investor
- Redmile Group new investor
- backs 20 venture-backed companies new investor
Joined the board: Germano Giuliani (HBM Healthcare Investments / Royalty Pharma).
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
38 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $28M, and this round was 6.2 times the median. The closest in time, other companies' Series B rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 17 Mar 2020 | $45M | not disclosed | The Column Group |
| Pharmaceutical Products | 5 Feb 2020 | $20M | not disclosed | SymBiosis Capital Management |
| Pharmaceutical Products | 16 Apr 2020 | undisclosed | not disclosed | Evotec |
| Pharmaceutical Products | 28 May 2020 | $6.6M | not disclosed | Seventure Partners |
| Pharmaceutical Products | 9 Jun 2020 | $76M | not disclosed | ARCH Venture Partners and Cowen Healthcare Investments |
| Pharmaceutical Products | 16 Jun 2020 | $38M | not disclosed | not named |
| Pharmaceutical Products | 2 Jun 2020 | $30M | not disclosed | not named |
| Pharmaceutical Products | 4 Jun 2020 | $21M | not disclosed | Gisev Family Office |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did ElevateBio raise in its Series B round?
ElevateBio raised $170M in its Series B round, announced in Mar 2020.
Which investors took part in ElevateBio's Series B round?
Invus, Citadel, EDBI, Vertex Ventures, F2 Venture Capital and MPM Capital and 3 more.
What was ElevateBio's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Pharmaceutical Products?
38 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $28M, and this round was 6.2 times the median.
Did ElevateBio raise again after this round?
Yes: a Series C round in Mar 2021 of $525M.