PatSnap

PatSnap

Intellectual property and innovation intelligence platform

About PatSnap

Simplify's Rating
Why PatSnap is rated
B
Rated B on Competitive Edge
Rated B on Growth Potential
Rated B on Rating Differentiation

Industries

Data & Analytics

Consulting

Education

Company Size

501-1,000

Company Stage

Series E

Total Funding

$342M

Headquarters

Singapore, Singapore

Founded

2007

Overview

PatSnap offers a platform that helps businesses, inventors, and researchers understand patents and innovation. Its main product aggregates and analyzes data from patents, scientific literature, and market reports, enabling clients to make informed decisions about their R&D investments. The company operates on a subscription model, providing various service tiers and educational courses to empower clients. PatSnap's goal is to help clients leverage intellectual property data to drive growth and maintain a competitive edge.

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Simplify's Take

What believers are saying

  • Expansion in Japan aims to boost revenue contribution to 10% from a minimal share.
  • Collaboration with BizInt Smart Charts enhances data integration and patent intelligence access.
  • CoPilot AI assistant improves IP and R&D workflows, increasing user efficiency.

What critics are saying

  • UK lawtech startups' growth could threaten PatSnap's market share by 2026.
  • Cultural resistance to legal tech may limit PatSnap's effectiveness in some companies.
  • Expansion in Japan may face challenges due to current minimal revenue share.

What makes PatSnap unique

  • PatSnap integrates generative AI into R&D, enhancing drug discovery timelines.
  • The platform aggregates data from patents, literature, and market reports for comprehensive insights.
  • PatSnap's subscription model ensures steady revenue and continuous platform enhancement.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$342M

Above

Industry Average

Funded Over

4 Rounds

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.
Series E Funding Comparison
Above Average

Industry standards

$100M
$250M
Reddit
$300M
PatSnap
$1250M
Epic Games
$1500M
Airbnb

Benefits

Paid Vacation

Unlimited Paid Time Off

Mental Health Support

Parental Leave

Life Insurance

Private Healthcare

Private Pension

RRSP Contribution Matching

Eyecare Voucher Scheme

WFH Stipend

Cycle To Work scheme

Company Equity

Paid Volunteering Days

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

1%

2 year growth

0%
PatSnap
Nov 26th, 2024
Meet Hiro Life Sciences: Your Trusted AI Assistant for Accelerated Drug Discovery

With the launch of Hiro Life Sciences (LS), PatSnap is seamlessly integrating generative AI into the R&D process, bridging the gap between AI and drug discovery.

The Bridge
Nov 26th, 2024
Hackosakaのピッチには日本市場を目指す海外チーム6社が登壇、炭素排出量を瞬時にAi算出するカナダのArborが優勝

Image credit: Osaka Innovation Hub. 26日、大阪市、都市活力研究所、JETRO 大阪本部、大阪産業局は「HackOsaka 2024」を開催した。このカンファレンスの目的の一つとして、海外スタートアップの日本進出、日本スタートアップの海外進出を支援することが掲げられているが、終盤には海外から大阪をエントリポイントとして日本市場に進出しようとするスタートアップによるピッチコンペティション「Global Startup Pitch」が設けられた。. 6社がピッチし、製品毎の正確な炭素排出量を瞬時に計算する AI プラットフォームを開発するカナダの Arbor が優勝した。このピッチコンペティションで審査員を務めたのは以下の方々だ。

Nikkei
Aug 19th, 2024
Singapore unicorn Patsnap to expand AI-powered patent search

She added that Patsnap is expanding its team in Japan, hoping to boost the country's contribution to its revenues to a share of about 10% from just a fraction at the moment.

KrASIA
Jun 12th, 2024
The hidden power of patents and PatSnap's USD 100 million milestone

The hidden power of patents and PatSnap's USD 100 million milestone.

Artificial Lawyer
May 13th, 2024
Don’T Blame The Gc, The Ceo Decides

Sometimes it can appear from the outside that inhouse lawyers are reticent about legal innovation and tech adoption, but if you ‘follow the money’ then in reality it’s the CEO who ultimately decides. As Eric Topel, the new GC of IP platform Patsnap, told this site: ‘Not all executives have a strong understanding of legal.’‘Some CEOs are from a sales and marketing background, some from tech,’ he explained, ‘so sometimes there’s a lack of familiarity [about legal tech] and the different tools that are available.’‘Also, if there is a culture of blame at the company, then that culture encourages [the GC] to spend the money on law firms, not tools for the inhouse team,’ he added.‘The more integrated we are [with the C-suite], then the better the level of trust, and more work is kept inhouse, and so the same goes for [legal tech] tooling and AI that can help us to improve and be more efficient and save money,’ Topel said.That is to say, some companies’ C-suites don’t have a detailed understanding of what the legal team does or how they do it – nor perhaps want to have that level of engagement. This then makes them uncertain about the inhouse team’s overall value, and so they depend on law firms to handle more work, and also don’t want to invest in legal tech for their own team.In short, don’t always blame the inhouse lawyers when you see a lack of progress on legal innovation, there may be some very good corporate culture reasons for this that are beyond their control.And this goes beyond areas such as legal ops and improving the legal function. If the culture of the company is one where the CEO doesn’t have a feel for what the legal function can do to improve how it works, then that also has a follow-on impact on law firms. As, if legal advisors are under no external pressure to change due to client lack of interest, then don’t expect a powerful need to embrace legal tech there either.So, what’s the answer? Topel told Artificial Lawyer: ‘It’s incumbent on the GC to educate the C-suite.’But, will all GCs want to do that? He replied: ‘I see myself as a proactive attorney. But, if you are reactive then you may see no reason to change.’‘A lot of this is about demonstrating the value of the legal team,’ he added, and underlines that this is not always easy

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