PatSnap built a global patent search database and has expanded into “innovation intelligence” software that analyzes patents, scientific papers, government R&D grants and startup funding news to help enterprises shape R&D strategy. The company was founded in 2007 in Singapore and has pushed into adjacent realms to help customers track competitors and identify partners. PatSnap says it serves more than 10,000 customers in over 50 countries and employs about 700 people across the U.S., Europe, Canada, Japan and China; the U.S. is its largest market while China is a rapidly growing revenue stream (it operates there as Zhihuiya). Notable customers named include Tesla, General Electric, Siemens, Dyson, PalPal, Spotify and Megvii. With the new funding the company plans to further develop products, acquire more domain expertise, expand global sales presence and invest in human capital. PatSnap, founded in 2007, provides patent retrieval, analysis, management and other products and services across the whole R&D lifecycle. The company helps organizations obtain competitive intelligence, promote scientific and technological research, increase R&D efficiency, and support commercialization. As of July 2018 PatSnap had served more than 8,000 customers in over 60 countries and regions across more than 50 industries and employed nearly 1,000 people worldwide. It operates branches in the UK, US, China and Singapore and has built a decade of technical expertise and continuous product innovation. PatSnap has attracted investment from backers including Temasek Group, Sequoia Capital and Shunwei Capital. The company aims to expand its IP service and innovation capabilities to support Chinese enterprises and industrial upgrading. PatSnap offers a patent and R&D platform and related services to help enterprises pull in IP data for R&D and product development. The company started as a directory for IP and has expanded to services that help manage internal product development and other R&D initiatives. It claims 8,000 clients worldwide, including more than 4,500 in China, and says the U.S. is its largest revenue market. PatSnap employs about 700 staff across offices in London (commercial), China (product), Singapore (machine learning) and Los Angeles (go to market), and plans to open a development office in Toronto. Management says it is building new products aimed at becoming the software stack for R&D teams. Leadership describes the company as well funded and expects to be profitable within two to three years. PatSnap is a London-based cloud software company that calls itself an "IP intelligence" firm, designed to comprehend the full R&D lifecycle of a technology company's intangible assets. The company offers a platform used across 40 industries and serves more than 3,000 customers worldwide, including NASA, Vodafone, L'Oreal and MIT. PatSnap employs about 400 people across Singapore, London and Suzhou, China. It said it will use the new funding to develop new products and expand its team. The company was founded and is led by CEO Jeffrey Tiong, and built early versions of its platform within an accelerator program at the National University of Singapore. Earlier financings include a US$3.6 million Series A in 2014 and an US$11 million Series B in 2015. PatSnap provides web-based intellectual property analytics and management software built on a database of global patents and intellectual property. The platform ingests, maps, and links over 100 million patents from virtually every relevant jurisdiction in the world. Its proprietary analytics and visualization software allows researchers to conduct intellectual property research and monitor IP evolution across multiple sectors. PatSnap serves thousands of corporations, research and academic institutions, and governments worldwide; customers include NASA, Vodafone, L’Oréal, MIT and the National Institutes of Health. The company intends to use new funds to continue to scale its business around the world. Founded in 2007 and based in Singapore, PatSnap reported a $10M funding round in the most recent press coverage.

Total raised

$352M

Funding rounds

6

Latest round

Series E

Latest activity

Mar 2021