Funding round
Synthego Series B
Synthego, which works in CRISPR solutions development in Redwood City, raised $42M in a Series B round announced on 4 Jan 2017, led by 8VC. 10 firms took part, with 2 individual investors. It is Synthego's first venture round on record.
$42M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Synthego did not disclose a valuation in this round. It is Synthego's first venture round on record, 5 years after it was founded in 2012. It is 9.3% of the $452M Synthego has raised in the venture rounds on record. Synthego raised again 21 months later: a Series C round of $110M in Oct 2018. Its next priced round, a Series D in Aug 2020, valued it at $487M.
Synthego's funding rounds
Synthego has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
8VC led the round with 9 other firms.
Lead investor
- 8VC new investor
Also in the round
- AME Cloud Ventures backs 105 venture-backed companies new investor
- new investor
- Founders Fund backs 368 venture-backed companies new investor
- Menlo Ventures backs 215 venture-backed companies new investor
- OS Fund new investor
- backs 47 venture-backed companies new investor
- backs 32 venture-backed companies new investor
- ZhenFund new investor
- Alexandria Equities new investor
Individual investors: Jennifer A. Doudna and Jennifer Doudna.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
18 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $20M, and this round was 2.1 times the median. The closest in time, other companies' Series B rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pharmaceutical Products | 6 Dec 2016 | $20M | $157M | General Catalyst |
| Pharmaceutical Products | 20 Mar 2017 | $30M | not disclosed | SR One |
| Pharmaceutical Products | 3 Nov 2016 | $21M | not disclosed | PPF Group |
| Pharmaceutical Products | 1 Mar 2017 | $8.8M | not disclosed | Vesalius Biocapital II S.A. SICAR and SMS Company Group |
| Pharmaceutical Products | 30 May 2017 | $20M | not disclosed | Spruce Capital Partners |
| Pharmaceutical Products | 15 Jun 2016 | $33M | not disclosed | Novo Holdings and Sofinnova Partners |
| Pharmaceutical Products | 15 Jun 2016 | $25M | not disclosed | Delos Capital |
| Pharmaceutical Products | 20 Sep 2017 | $18M | not disclosed | Elements Capital and WI Harper Group |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Synthego raise in its Series B round?
Synthego raised $42M in its Series B round, announced in Jan 2017.
Who led Synthego's Series B round?
8VC led it, with AME Cloud Ventures, Element Capital, Founders Fund, Menlo Ventures and OS Fund and 4 more.
What was Synthego's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Pharmaceutical Products?
18 Series B rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $20M, and this round was 2.1 times the median.
Did Synthego raise again after this round?
Yes: a Series C round in Oct 2018 of $110M.