Sequoia, Shunwei invest in Singapore’s Patsnap
Sequoia Capital China has led a Series C round of funding for Singapore-based Patsnap, a web-based intellectual property analytics and management software developer.
Financial details were not disclosed. Shunwei Capital Partners, another China-based VC firm, also participated in the round.
Patsnap was built within an accelerator program at the National University of Singapore in 2007. The company's software-as-service platform provides market intelligence, as well as IP analysis and research for global corporations, research and academic institutions, and governments. It has offices in London, China and Singapore, serving over 3,000 customers operating in 40 industries including NASA, Vodafone, L'Oreal and Massachusetts Institute of Technology.
According to AVCJ Research, Patsnap received a $3.6 million Series A round from Vertex Ventures in 2014, and a $10 million Series B round from Summit Partners last year. The latest funding will help the company continue to scale its business in terms of technology innovation and product development.
"Patsnap is expected to contribute great efforts to the technology innovation globally. It has rapidly built a global team, and is exceptional in having a strong customer base spanning Asia, America and Europe," Steven Ji, a partner at Sequoia Capital China, said in a statement.
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