Funding round
Synthego Series D
Synthego, which works in CRISPR solutions development in Redwood City, raised $100M in a Series D round announced on 26 Aug 2020, led by 8VC, RA Capital and Wellington Management, at a $487M post-money valuation. 6 firms took part. It is Synthego's third venture round on record; the one before was a Series C in Oct 2018.
$100M
Amount raised
$487M
Post-money valuation
6
Investors
3 leads
21%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Synthego at $487M after the new money. The $100M bought investors about 21% of the company. It came 22 months after Synthego's Series C. It is 22% of the $452M Synthego has raised in the venture rounds on record. Synthego raised again 18 months later: a Series E round of $200M in Feb 2022.
Synthego's funding rounds
Synthego has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
8VC, RA Capital and Wellington Management led the round with 3 other firms.
Lead investors
- 8VC new investor
- backs 109 venture-backed companies new investor
- Wellington Management new investor
Also in the round
- Founders Fund backs 368 venture-backed companies new investor
- Intel Capital backs 239 venture-backed companies new investor
- Menlo Ventures backs 215 venture-backed companies 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
8 Series D rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $140M, and this round was 71% of the median. The closest in time, other companies' Series D rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Orca Bio Pharmaceutical Products | 17 Jun 2020 | $192M | not disclosed | Lightspeed Venture Partners and Undisclosed Investor |
| Pharmaceutical Products | 8 Dec 2020 | $181M | not disclosed | RTW Investments, LP and GT Fund |
| Pharmaceutical Products | 10 Mar 2021 | $114M | not disclosed | LYZZ Capital and HBM Healthcare Investments |
| Pharmaceutical Products | 25 May 2021 | $65M | not disclosed | Cargill and Manna Tree Partners |
| Pharmaceutical Products | 14 Nov 2019 | $35M | not disclosed | not named |
| Pharmaceutical Products | 15 Jun 2021 | $270M | not disclosed | not named |
| Pharmaceutical Products | 23 Jul 2021 | $100M | not disclosed | CPE and China Structural Reform Fund |
| Rakuten Medical Pharmaceutical Products | 2 Aug 2021 | $166M | not disclosed | General Catalyst |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Synthego raise in its Series D round?
Synthego raised $100M in its Series D round, announced in Aug 2020.
Who led Synthego's Series D round?
8VC, RA Capital and Wellington Management led it, with Founders Fund, Intel Capital and Menlo Ventures.
What was Synthego's valuation at the Series D round?
$487M post-money.
How does it compare with other Series D rounds in Pharmaceutical Products?
8 Series D rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $140M, and this round was 71% of the median.
Did Synthego raise again after this round?
Yes: a Series E round in Feb 2022 of $200M.