Benchling Thrives With $7 Million Investment

 

SAN FRANCISCO —┬áBenchling, a software company developing life science Research and Development software, has raised $7 million in new funding. This latest funding round was led by Thrive Capital and included participation from Andreessen Horowitz, Y Combinator partner Geoff Ralston, Sequoia partner Matt Huang, CXO of Tencent David Wallerstein, and actor/tech investor Ashton Kutcher.

The company has now raised over $13 million from investors who have collectively funded SpaceX, Tesla, Facebook, and Airbnb.

Benchling plans to use the new funding to expand scientific operations, broaden development across more therapeutic areas, and further expand its platform to be increasingly comprehensive.

Since its founding in 2012, Benchling has become a leading innovator in the R&D technology space. The company provides an integrated cloud-based software platform consisting of lab notebook, LIMS, and molecular biology tools to over 40,000 academic and industry scientists. These users represent more than 10,000 academic institutions and over 150 companies.

“Drug discovery is becoming more complex and costly, while offering significantly lower returns. In turn, scientists are generating more data and working on more complicated problems than ever, but the ways they manage that data and collaborate have barely changed in the past decade. The industry mostly runs on paper, spreadsheets, and otherwise clunky and outdated software that’s designed with little scientist input,” said Sajith Wickramasekara, Founder & CEO of Benchling. “Benchling develops its software with real scientist workflows in mind, so that scientists’ tools can streamline their research rather than impede it. Instead of spending upwards of 30% of their time taking notes and searching through disjointed records systems, scientists can focus on science.”