PatSnap secures £215.9m Series E funding from SoftBank Vision Fund and Tencent Investment to scale its platform.
The investment round was led by SoftBank Vision Fund 2 and Tencent Investment.
PatSnap provides an innovation intelligence platform that helps research and development teams commercialise new products. The company operates globally with offices in London, Singapore, and Toronto.
PatSnap has secured £215.9m in a Series E funding round led by SoftBank Vision Fund 2 and Tencent Investment. The raise also saw participation from CPEIndustrial Fund and existing backers Sequoia China, Shun Wei Capital, and Vertex Ventures.
The company will use the capital to advance its innovation intelligence platform, accelerate product development, and expand its global sales presence. PatSnap plans to deepen its domain expertise across key industry sectors and invest in the professional development of its workforce.
The investment follows a period of growth for the platform, which uses machine learning and artificial intelligence to connect disparate datasets for research and intellectual property teams. PatSnap currently serves over 10,000 customers worldwide.
From the founder
"Our global footprint, leadership, and strategic position in the innovation economy have enabled us to attract top investors, customers, and talent. Adding Softbank Vision Fund 2 and Tencent to our notable roster of investors will help solidify PatSnap as the industry standard for innovation intelligence. Both have deep investment expertise with AI-led companies and proven track records supporting sustainable company growth."
Jeffrey Tiong
CEO at PatSnap
Investor perspective
"We are pleased to partner with Jeffrey and the PatSnap team to support their mission of helping innovators make faster, more informed decisions through connected innovation intelligence."
Eric Chen
Managing Partner of SoftBank Investment Advisers, SoftBank Vision Fund
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Expand into international markets
- 04Grow the team
Investors
Eric Chen
SoftBank Vision Fund
Levin Yao
Tencent Investment
CPEIndustrial Fund
Sequoia China
Shun Wei Capital
Vertex Ventures
