BenchSci

BenchSci

AI-driven platform for preclinical research

About BenchSci

Simplify's Rating
Why BenchSci is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

AI & Machine Learning

Biotechnology

Company Size

201-500

Company Stage

Series D

Total Funding

$156.6M

Headquarters

Toronto, Canada

Founded

2015

Overview

BenchSci operates in the biotechnology sector, focusing on preclinical research and development. The company uses artificial intelligence and machine learning to create a detailed map of disease biology, which helps scientists understand existing research and improve their R&D efficiency. Its main product, ASCEND, is a platform that assists scientists in hypothesis generation, experimental design, and risk identification across various therapeutic areas. BenchSci aims to enhance the research process by providing tools that accelerate research and reduce risks.

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Simplify's Take

What believers are saying

  • $95M Series D funding boosts BenchSci's AI platform development and market reach.
  • Generative AI integration enhances ASCEND's predictive capabilities for hypothesis generation.
  • Recognition as a Best Workplace for Inclusion attracts top talent and fosters innovation.

What critics are saying

  • 17% workforce reduction may impact morale and innovation at BenchSci.
  • Heavy reliance on external funding poses financial risks if future rounds falter.
  • Rapid team expansion could lead to integration challenges and inefficiencies.

What makes BenchSci unique

  • BenchSci's ASCEND platform uses AI to map disease biology for drug discovery.
  • ASCEND helps scientists identify risks and generate hypotheses in preclinical R&D.
  • BenchSci's AI Reagent Selector improves reagent selection efficiency in drug development.

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Funding

Total Funding

$156.6M

Below

Industry Average

Funded Over

5 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Meet Average

Industry standards

$77M
$69.7M
BenchSci
$70M
Twilio
$80M
Handshake
$100M
Affirm

Benefits

Remote-first culture

Equity options

15 days vacation + additional day every year

Unlimited flex time

Comprehensive health & dental benefits

Psychotherapist services

Annual Learning & Development budget

Home office set-up budget

Wellness, lifestyle & productivity spending account

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-2%

2 year growth

2%
St. Lawyers
Jan 12th, 2024
BenchSci: Severance Packages

January 2024: BenchSci has eliminated 17 per cent of its workforce, or 70 jobs, as it furthers its investment into generative AI.

BenchSci
Nov 28th, 2023
Celebrating Inclusivity: BenchSci has been recognized on the 2023 Best Workplaces(TM) in Inclusion List by Great Places To Work Canada

Benchsci is proud to share that BenchSci is being recognized as a 2023 Best Workplaces(TM) for Inclusion through Great Place to Work!

BenchSci
Jun 6th, 2023
Honoring Pride Month and Announcing BenchSci’s Second Employee Resource Group (ERG)

Recently, BenchSci released its second DEI Year in Review where Benchsci expanded the self-reporting categories that Benchsci share externally.

Medium
Jun 6th, 2023
Revolution in a Petri Dish: Sustainability in Life Sciences | by Generation Investment Management | Generation Investment Management | Jun, 2023 | Medium

Aligned with this, Generation Investment Management LLP is excited to announce its $40m investment in BenchSci, which you can read more about here.

BetaKit
May 25th, 2023
BenchSci closes $95M CAD Series D to expand AI drug-discovery platform

Toronto-based BenchSci, which helps pharmaceutical firms accelerate R&D using AI, has announced $95 million CAD in Series D funding.

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