BenchSci, a Toronto, Canada-based global leader in machine learning applications for novel medicine development, announced a CAD 63 million Series C (US$50 Million) funding round led by Inovia Capital and TCV, with participation from existing investors.
Bringing total investment to CAD 123 million (US$97 million), the funding allows BenchSci to expedite the expansion of its transformative AI-powered software platform that accelerates research in 16 top-20 pharmaceutical companies and over 4,500 leading research centers worldwide.
Round: Series C
Funding Month: January 2022
Lead Investors: Inovia Capital and TCV
Company Website: https://www.benchsci.com/
Software Category: preclinical R&D SaaS platform
About the Company: Founded in 2015, BenchSci has rapidly grown its customer base since launching commercially in 2017. Leveraging over 100 proprietary machine learning models, BenchSci's platform empowers 49,000 scientists globally to optimize their experiment designs and hence research productivity. Building on the success of applications that help scientists select reagents and model systems, BenchSci is evolving its technology to provide a comprehensive platform with capabilities that help leading pharmaceutical companies to solve their biggest R&D challenges, BenchSci’s vision is to bring novel medicine to patients 50% faster by 2025.