Collate Raises $95 Million at Nearly $1 Billion Valuation
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San Francisco-based Collate, a provider of AI-powered document automation software for the life sciences industry, has raised $95 million in a new funding round. The investment values the company at close to $1 billion.
The round was led by Redpoint Ventures.
Funding to Support Product Development and Expansion
Collate plans to use the fresh capital to strengthen its engineering team, accelerate product development, and expand its enterprise sales efforts. The company is also looking to grow its presence among global pharmaceutical and medical device organizations.
AI Tools for Regulatory and Clinical Documentation
Founded by Surbhi Sarna and Nate Smith, Collate develops large language model (LLM)-based applications for document-intensive workflows in the life sciences sector.
Its platform helps automate regulatory submissions, clinical trial documentation, and product development paperwork. However, the company requires human review and verification before any final action is taken.
Funding Total Reaches $125 Million
With this latest round, Collate's total funding has reached $125 million since the company emerged from stealth mode.
The company has also expanded its customer base and now serves around 50 enterprise clients.
Earlier investors in the company include First Round Capital and Conviction Partners.
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