Funding round
Tessera Therapeutics Series B
Tessera Therapeutics, which works in genome engineering technology development in Somerville, raised $230M in a Series B round announced on 12 Jan 2021, led by SoftBank Vision Fund, Alaska Permanent Fund Corporation and Altitude Life Science Ventures. 5 firms took part. It is Tessera Therapeutics' first venture round on record.
$230M
Amount raised
Not disclosed
Post-money valuation
5
Investors
3 leads
Valuation
What this round says about the price
Tessera Therapeutics did not disclose a valuation in this round. It is Tessera Therapeutics' first venture round on record, 3 years after it was founded in 2018. It is 43% of the $530M Tessera Therapeutics has raised in the venture rounds on record. Tessera Therapeutics raised again 15 months later: a Series C round of $300M in Apr 2022.
Tessera Therapeutics' funding rounds
Tessera Therapeutics has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series B this round 12 Jan 2021, led by SoftBank Vision Fund, Alaska Permanent Fund Corporation and Altitude Life Science Ventures $230M
- Series C 19 Apr 2022, led by SoftBank Vision Fund $300M
- Grant not a venture round 8 Oct 2025, led by Advanced Research Projects Agency for Health $41M
Investors
Who put money in
SoftBank Vision Fund, Alaska Permanent Fund Corporation and Altitude Life Science Ventures led the round with 2 other firms.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- Altitude Life Science Ventures new investor
Also in the round
- Qatar Investment Authority backs 71 venture-backed companies new investor
- Flagship Pioneering new investor
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
102 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $60M, and this round was 3.9 times the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| LifeMine Biotechnology | 8 Jan 2021 | $50M | not disclosed | Milky Way Investments |
| Biotechnology | 27 Jan 2021 | $40M | not disclosed | Leaps by Bayer |
| Biotechnology | 21 Jan 2021 | $29M | not disclosed | not named |
| Biotechnology | 12 Jan 2021 | $21M | not disclosed | Baird Capital and Arboretum Ventures |
| Biotechnology | 4 Jan 2021 | $13M | not disclosed | The University of Tokyo Edge Capital Partners (UTEC) |
| Biotechnology | 25 Feb 2021 | $123M | not disclosed | not named |
| Biotechnology | 18 Feb 2021 | $90M | not disclosed | Lilly Asia Ventures |
| Biotechnology | 16 Dec 2020 | $80M | not disclosed | Redmile Group |
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 Tessera Therapeutics raise in its Series B round?
Tessera Therapeutics raised $230M in its Series B round, announced in Jan 2021.
Who led Tessera Therapeutics' Series B round?
SoftBank Vision Fund, Alaska Permanent Fund Corporation and Altitude Life Science Ventures led it, with Qatar Investment Authority and Flagship Pioneering.
What was Tessera Therapeutics' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
102 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $60M, and this round was 3.9 times the median.
Did Tessera Therapeutics raise again after this round?
Yes: a Series C round in Apr 2022 of $300M.