News

Information Technology

Staff Reporter

, Singapore

Published:

3 years ago

PatSnap raises US$300m in Series E funding

It plans to use the funds to advance its innovation intelligence platform.

Singapore-based computer software company PatSnap has secured $404m (US$300m) in Series E funding, the company announced.

PatSnap said it plans to use the funds to further advance its innovation intelligence platform, accelerate product development, and acquire additional domain expertise in the industry sectors where its technology is used by research and development as well as intellectual property teams.

The funds will also enable the company to expand its sales presence worldwide and invest in the growth and professional development of its employees to better address the complex needs of its customers.

The investment round was led by SoftBank Vision Fund 2 and Tencent Investment, with participation from existing investors Vertex Ventures, CPE Industrial Fund, Sequoia China, and Shun Wei Capital.

“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,” PatSnap founder Jeffrey Tiong said.

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