Funding round
Encoded Therapeutics Series D
Encoded Therapeutics, which works in gene therapy development in South San Francisco, raised $135M in a Series D round announced on 22 Jul 2020, led by GV. 12 firms took part. It is Encoded Therapeutics' second venture round on record; the one before was a Series C in Jun 2019.
$135M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
Valuation
What this round says about the price
Encoded Therapeutics did not disclose a valuation in this round. It came 13 months after Encoded Therapeutics' Series C. It is 26% of the $514M Encoded Therapeutics has raised in the venture rounds on record. Encoded Therapeutics raised again 74 months later: a Series F round of $275M in Sep 2026.
Investors
Who put money in
GV led the round with 11 other firms.
Lead investor
- GV backs 428 venture-backed companies new investor
Also in the round
- Matrix Capital Management new investor
- ARCH Venture Partners backs 99 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- backs 16 venture-backed companies new investor
- backs 2 venture-backed companies new investor
- HBM Genomics new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- Meritech Capital new investor
- backs 15 venture-backed companies new investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Joined the board: David Schenkein (GV).
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
11 Series D rounds in Biotechnology within a year either side disclosed an amount; the median was $102M, and this round was 1.3 times the median. The closest in time, other companies' Series D rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 28 Jul 2020 | $35M | not disclosed | BDT & MSD Partners |
| Biotechnology | 5 Aug 2020 | $71M | not disclosed | Koch Disruptive Technologies |
| Biotechnology | 24 Sep 2020 | $142M | not disclosed | CMB International Capital Corporation |
| Biotechnology | 31 Dec 2020 | $15M | not disclosed | not named |
| Biotechnology | 1 Jan 2021 | $120M | $12.00B | aMoon and Eventide Asset Management |
| Biotechnology | 10 Dec 2019 | $125M | not disclosed | Paladin Capital Group |
| Biotechnology | 26 Dec 2019 | $114M | not disclosed | 国新资本 |
| Biotechnology | 16 Mar 2021 | $102M | not disclosed | D1 Capital Partners |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Encoded Therapeutics raise in its Series D round?
Encoded Therapeutics raised $135M in its Series D round, announced in Jul 2020.
Who led Encoded Therapeutics' Series D round?
GV led it, with Matrix Capital Management, ARCH Venture Partners, Illumina Ventures, RTW Investments and Boxer Capital and 6 more.
What was Encoded Therapeutics' valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Biotechnology?
11 Series D rounds in Biotechnology within a year either side disclosed an amount; the median was $102M, and this round was 1.3 times the median.
Did Encoded Therapeutics raise again after this round?
Yes: a Series F round in Sep 2026 of $275M.