Funding round
Encoded Therapeutics Series C
Encoded Therapeutics, which works in gene therapy development in South San Francisco, raised $104M in a Series C round announced on 26 Jun 2019, led by Venrock. 9 firms took part. It is Encoded Therapeutics' first venture round on record.
$104M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
Encoded Therapeutics did not disclose a valuation in this round. It is Encoded Therapeutics' first venture round on record, 5 years after it was founded in 2014. It is 20% of the $514M Encoded Therapeutics has raised in the venture rounds on record. Encoded Therapeutics raised again 13 months later: a Series D round of $135M in Jul 2020.
Investors
Who put money in
Venrock led the round with 8 other firms.
Lead investor
- Venrock backs 93 venture-backed companies new investor
Also in the round
- ARCH Venture Partners backs 99 venture-backed companies new investor
- Matrix Capital Management new investor
- backs 38 venture-backed companies new investor
- Altitude Life Science Ventures new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- backs 16 venture-backed companies new investor
- Alexandria Venture Investments 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
14 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $34M, and this round was 3.1 times the median. The closest in time, other companies' Series C rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 1 Jun 2019 | $15M | not disclosed | Finistere Ventures |
| Inari Biotechnology | 6 Aug 2019 | $89M | not disclosed | not named |
| Biotechnology | 28 Aug 2019 | $67M | not disclosed | IDG Capital |
| Biotechnology | 15 Oct 2019 | $85M | not disclosed | Aliment Capital and Temasek |
| Biotechnology | 14 Feb 2019 | $28M | not disclosed | Longliv Ventures |
| Biotechnology | 17 Dec 2019 | $28M | not disclosed | Northpond Ventures |
| Biotechnology | 24 Dec 2018 | $27M | not disclosed | not named |
| Biotechnology | 10 Jan 2020 | $32M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Encoded Therapeutics raise in its Series C round?
Encoded Therapeutics raised $104M in its Series C round, announced in Jun 2019.
Who led Encoded Therapeutics' Series C round?
Venrock led it, with ARCH Venture Partners, Matrix Capital Management, Illumina Ventures, Altitude Life Science Ventures and Menlo Ventures and 3 more.
What was Encoded Therapeutics' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Biotechnology?
14 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $34M, and this round was 3.1 times the median.
Did Encoded Therapeutics raise again after this round?
Yes: a Series D round in Jul 2020 of $135M.