Funding round
insitro Series B
insitro, which works in machine learning-driven drug discovery in South San Francisco, raised $143M in a Series B round announced on 26 May 2020, led by Andreessen Horowitz. 12 firms took part. It is insitro's first venture round on record.
$143M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
Valuation
What this round says about the price
insitro did not disclose a valuation in this round. It is insitro's first venture round on record, 2 years after it was founded in 2018. It is 26% of the $543M insitro has raised in the venture rounds on record. insitro raised again 10 months later: a Series C round of $400M in Mar 2021.
insitro's funding rounds
insitro has 2 venture rounds on record. This one is highlighted.
- Series B this round 26 May 2020, led by Andreessen Horowitz $143M
- Series C 15 Mar 2021, led by Canada Pension Plan Investment Board $400M
Investors
Who put money in
Andreessen Horowitz led the round with 11 other firms.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
Also in the round
- Canada Pension Plan Investment Board new investor
- T. Rowe Price new investor
- ARCH Venture Partners backs 99 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- Two Sigma Ventures backs 60 venture-backed companies new investor
- BlackRock new investor
- backs 54 venture-backed companies new investor
- backs 60 venture-backed companies new investor
- GV backs 428 venture-backed companies new investor
- WuXi AppTec's Corporate Venture Fund new investor
Joined the board: Vijay Pande (Andreessen Horowitz).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
70 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $50M, and this round was 2.9 times the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 21 May 2020 | $65M | not disclosed | SR One |
| Biotechnology | 13 May 2020 | $25M | not disclosed | SBI Investment and JAFCO |
| Biotechnology | 23 Apr 2020 | $63M | not disclosed | EcoR1 Capital |
| Biotechnology | 3 Jun 2020 | $55M | not disclosed | Novo Ventures |
| Biotechnology | 26 Jun 2020 | $45M | not disclosed | Bill & Melinda Gates Foundation |
| Biotechnology | 5 Jun 2020 | $28M | not disclosed | Temasek |
| Biotechnology | 12 Mar 2020 | $19M | not disclosed | not named |
| Biotechnology | 11 Aug 2020 | $123M | not disclosed | B Capital and Sanabil |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did insitro raise in its Series B round?
insitro raised $143M in its Series B round, announced in May 2020.
Who led insitro's Series B round?
Andreessen Horowitz led it, with Canada Pension Plan Investment Board, T. Rowe Price, ARCH Venture Partners, Foresite Capital and Third Rock Ventures and 6 more.
What was insitro's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
70 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $50M, and this round was 2.9 times the median.
Did insitro raise again after this round?
Yes: a Series C round in Mar 2021 of $400M.