# PatSnap secures $38 million in Series D funding led by Sequoia and Shunwei Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-06-15 Category: INVESTING Category URL: https://financedigest.com/category/investing Meta Title: PatSnap closes Series D round with $38 million invested Meta Description: Discover how PatSnap, the leading provider of R&D analytics, closed a US$38 million investment round with Sequoia Capital, Shunwei Capital, and Qualgro. URL: https://financedigest.com/patsnap-secures-38-million-in-series-d-funding-led-by-sequoia-and-shunweihtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd140618-5-1736840326730-compressed.jpg) _Latest round brings PatSnap’s total investment to date to over US$100 million_ > [PatSnap](http://www.patsnap.com/), the world’s leading provider of research and development (R&D) analytics, has today closed its Series D investment round led by [Sequoia Capital](https://www.sequoiacap.com/) and [Shunwei Capital](http://shunwei.com/resources/en/index.html), with participation from [Qualgro](http://www.qualgro.com/). The company closed US$38 million from the three investors, taking PatSnap’s total funding to date to over US$100 million. All of the investors have participated in PatSnap’s previous rounds, with Sequoia Capital leading PatSnap’s Series C investment in November 2016. Since then, PatSnap has launched its own R&D centre in Singapore, opened its first [North American](https://www.financedigest.com/north-american-market-for-veterinary-respiratory-ventilators-to-hold-lions-share-owing-to-presence-of-major-key-players-fact-mr-report.html "North American Market for Veterinary Respiratory Ventilators to Hold Lion’s Share Owing to Presence of Major Key Players: Fact.MR Report") office in Los Angeles, and has been hiring at a rapid pace. Steven Ji, Partner at Sequoia Capital, said“since our initial involvement in PatSnap’s Series C round, we have seen the company double its global employee base and on-board new clients at a phenomenal rate, demonstrating that there is real appetite in the [market for tools which can help companies accelerate their rate](https://www.financedigest.com/atomic-spectroscopy-market-market-is-expected-to-show-the-highest-growth-rate-during-the-forecast-period-2022-to-2025.html "Atomic Spectroscopy Market market is expected to show the highest growth rate during the forecast period 2022 to 2025") of innovation.” He continued: “The team has worked tirelessly to recruit the best and brightest talent, while also investing heavily in its own R&D, establishing a unique position of being the undisputed leader in SaaS for R&D teams across Asia, [North America](https://www.financedigest.com/north-america-wound-debridement-products-market-2021-global-leading-companies-analysis-revenue-trends-and-forecasts-2024.html "North America Wound Debridement Products Market 2021 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2024"), and Europe. We are delighted to be able to [strengthen](https://www.financedigest.com/the-mammography-detectors-market-to-strengthen-by-the-way-of-digitized-polyphony.html "The Mammography Detectors Market to strengthen by the way of digitized polyphony") our commitment to the company in this way.” Tuck Lye [Koh, Founder and CEO of Shunwei Capital](https://www.financedigest.com/lear-capital-founder-and-chairman-kevin-demeritt-on-inflation-now-and-then.html "Lear Capital Founder and Chairman Kevin DeMeritt on Inflation: Now and Then"), said“PatSnap is one of the fastest growing B2B SaaS companies, and the combination of its global data coverage for R&D, and the advances the team has made with machine learning to help innovation teams derive value from that data makes it the leader in its area.” Jeffrey Tiong, Founder and CEO of PatSnap, said that “We have recently made a number of strategic leadership appointments across US, Europe and Asia, and find ourselves in a very strong position to grow into different [countries and industries](https://www.financedigest.com/industrial-degreaser-market-2022-by-global-key-players-types-applications-countries-industry-size-and-forecast-to-2030.html "Industrial Degreaser Market 2022 by Global Key Players, Types, Applications, Countries, Industry Size and Forecast to 2030"), and develop even more innovative solutions for our clients. We will also be [opening our second North American office](https://www.financedigest.com/uaes-adnoc-to-open-swiss-trading-office-next-year.html "UAE’s ADNOC to open Swiss trading office next year") in Toronto to better service our clients on the East coast, and to support the huge amount of innovation that is taking place there.” An estimated [US$2.19 trillion](https://www.rdmag.com/article/2018/03/2018-global-r-d-funding-forecast-snapshot) will be spent on R&D globally in 2018, however in the past three decades, global R&D efficiency has decreased by about [65 percent](https://hbr.org/2017/03/is-rd-getting-harder-or-are-companies-just-getting-worse-at-it). Ray Chohan, SVP Corporate Strategy, added that “businesses worldwide are [investing](https://www.financedigest.com/unlocking-fresh-business-investment-opportunities-beyond-covid.html "Unlocking fresh business investment opportunities beyond COVID") a significant proportion of their turnover in R&D, but a large proportion of that money is wasted developing ideas that will never achieve a return on investment. Through the use of big data, analytics and machine learning, we are giving innovation leaders the data they need to make better decisions around their R&D and [investment](https://www.financedigest.com/what-makes-a-good-long-term-investment-strategy.html "What makes a good long-term investment strategy?") strategy.” While PatSnap has yet to spend the majority of its funding received from its Series C round, it plans to invest further in R&D and continuing to [grow its global](https://www.financedigest.com/fish-based-pet-food-market-to-surpass-us-16213-2-mn-as-demand-for-pet-food-with-high-nutritional-value-grows-globally.html "Fish Based Pet Food Market to Surpass US$ 16,213.2 Mn as Demand for Pet Food with High Nutritional Value Grows Globally") operations. Mr. Tuck Lye Koh [says that “the challenges of developing](https://www.financedigest.com/yves-mirabaud-says-we-are-on-track-with-our-development-strategy.html "Yves Mirabaud Says “We are on track with our development strategy”"), maintaining and making sense of such large and complex datasets are very strong barriers to entry, and what PatSnap has been able to achieve in such a short period of time is remarkable. We wanted to re-invest because we firmly believe in the company’s vision, and because of the massive [potential for further growth as the company expands into new markets](https://www.financedigest.com/modified-starch-market-potential-growth-share-demand-and-analysis-of-key-players-forecasts-to-2032.html "Modified Starch Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2032") and geographies.” PatSnap, which has over 8,000 clients globally, with more than 4500+ clients in China, one of the fastest [growing markets](https://www.financedigest.com/dental-implants-and-prosthetics-market-market-to-grow-at-robust-cagr-by-2028.html "Dental Implants and Prosthetics Market Market to Grow at Robust CAGR by 2028"), has brought together the world’s most comprehensive R&D dataset. By combining millions of [data points](https://www.financedigest.com/interoperability-of-data-to-accelerate-the-point-care-infectious-disease-diagnostics-market.html "Interoperability of data to accelerate the Point Care Infectious Disease Diagnostics Market") from patents, licensing, litigation, and company information with non-patent literature, PatSnap provides the world’s most innovative organisations with a new, intuitive source of information to accelerate their R&D. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---