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Benchling raised $100 million to expand in Europe and further develop it's cloud-based R&D platform.
Benchling, developer of R&D Cloud software for the biotechnology industry, has raised $100 million in Series F funding, which it will use to continue its European expansion and further develop its cloud-based R&D platform, the company reported in a Nov. 18, 2021 press release.
The latest investment round was co-led by new investor Franklin Templeton and existing investor Altimeter Capital. Other new investors to join the existing ones in the financing round were Tiger Global and Lone Capital. As a result of the latest round of funding, Benchling is now valued at $6.1 billion.
“Biotechnology is rewriting life as we know it. Europe is at the forefront of cutting-edge R&D, and we are honored to work with nearly 100 companies there, after establishing a presence in Zurich last year. We are excited to double down our investment in this important market,” said Sajith Wickramasekara, CEO and co-founder of Benchling, in the press release. “Our customers, spanning nearly every major industry, are engineering more effective medicines, nutritious foods, and sustainable crops, materials, and fuels to address humanity’s most pressing issues. These challenges are global, so growth outside of the US is a strategic priority for us as we power modern, data-driven, and collaborative R&D.”