Cellarity Valuation, Funding & Investors
Cellarity is valued at $398M as of February 2021.
Last Cellarity valuation
$398M
Series B · Feb 2021
Last Cellarity funding round
$121M
Series C · Oct 2022
Cumulative funding Cellarity raised
$294M
across 3 funding rounds
Key investors in Cellarity
Flagship Pioneering
BlackRock
Pictet Private Equity Investors S.A.
The Baupost Group
Hanwha Impact Partners
Kyowa Kirin
About Cellarity
Cellarity is a Cambridge, Massachusetts-headquartered AI drug discovery company. The company maps cellular states via single-cell RNA sequencing and machine learning for fibrosis and metabolic diseases. Cellarity raised $250 million in 2023 and advances two programs to preclinical. Founded in 2017, it collaborates with Biogen.
Founded
2017
HQ
Boston, MAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$398M (Feb 2021)
Cellarity Valuation
Cellarity is currently valued at $398M, based on its Series B in February 2021.
The $123M round was led by Flagship Pioneering, with participation from Pictet Private Equity Investors S.A., The Baupost Group and BlackRock.
Cellarity valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2021 | Series B | $398M |
Cellarity Funding History
Cellarity has raised a total of $294M across 3 funding rounds.
Cellarity's first fundraising round was a $50M undisclosed-stage round in December 2019. The most recent completed round was a $121M Series C in October 2022.
Cellarity funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Series C | Flagship Pioneering; Hanwha Impact Partners; Kyowa Kirin | $121M | - | Cellarity, a biotech startup founded by Flagship Pioneering in 2017 and based in Somerville, Massachusetts, raised $121 million in a Series C funding round on October 4, 2022, from investors including Flagship Pioneering, Hanwha Impact Partners, Kyowa Kirin, Jameel Investment Management Company, and undisclosed others, bringing total funding to $274 million across three rounds. The company develops a platform using machine learning and single-cell technologies, including RNA transcript data, to analyze cellular dysfunction in disease transitions, aiming to improve drug discovery by focusing on whole-cell biology rather than single targets, with applications in metabolic disorders, blood disorders, hematology, immuno-oncology, and immunology. Proceeds from the Series C will support talent expansion, platform strengthening, and advancing an internal pipeline toward clinical trials, including nominating first clinical candidates and moving programs into human testing within two years, building on compounds already validated in vitro and in vivo, including higher species models. CEO Fabrice Chouraqui emphasized the platform's potential to create medicines previously impossible by unraveling disease complexity at the cellular level, while board chair Stephen Berenson highlighted its design for higher clinical translatability and success. The raise reflects broader biotech trends in 2022, where firms opted for private funding amid volatile public markets, avoiding IPOs common after Series B. |
| Feb 2021 | Series B | Flagship Pioneering (lead); Pictet Private Equity Investors S.A.; The Baupost Group; BlackRock | $123M | $398M | Cellarity is a life sciences company founded by Flagship Pioneering in 2017 that develops a cell-centric approach to drug discovery and development. The company combines high-resolution single-cell data, protein discovery platforms, machine learning, and network biology to understand how cells behave in healthy and diseased states, enabling the design of breakthrough medicines that target multiple drivers of cellular disease rather than single molecular targets. This approach is intended to improve clinical translatability across a broad array of disease areas. On February 25, 2021, Cellarity closed a $123 million Series B financing round at a post-money valuation of $398.45 million. The round was led by Flagship Pioneering alongside investors including BlackRock, The Baupost Group, and Banque Pictet on behalf of their clients, plus eight additional investors. At the time of the Series B, Cellarity had seven drug discovery programs underway in disease areas including immuno-oncology, hematology, and metabolic diseases. The company planned to use the proceeds to advance multiple programs toward clinical proof of concept, expand its platform capabilities, and extend the approach into additional disease areas. With the funding, Cellarity intended to double its employee count to approximately 120 and relocate to a new headquarters location in the second half of 2021. |
| Dec 2019 | Undisclosed stage | Flagship Pioneering (lead) | $50M | - | Cellarity, founded by Flagship Pioneering and unveiled on December 10, 2019, is a biotechnology company pioneering drug discovery by targeting cell behavior rather than single molecular targets, using machine learning and AI to analyze cellular states and predict disease mechanisms across areas like hematology, immuno-oncology, and metabolism. The company launched at the end of 2019 as one of Flagship's NewCos, with Flagship deploying significant capital to its portfolio companies that year, including over $429 million total across multiple ventures. Subsequent rounds include a Series B of $123 million, announced to advance its cell-based drug discovery platform and pipeline toward the clinic, focusing on higher translatability and clinical success. The Series C raised $121 million (or $121M-$123M per reports), bringing total funding to $274 million, with participation from Flagship Pioneering, Kyowa Kirin, Hanwha Impact Partners, and others; proceeds support hiring, platform buildout, and pipeline advancement in preclinical validation stages. Cellarity operates within Flagship Pioneering's ecosystem of over 40 companies, leveraging the firm's hypothesis-driven innovation from Flagship Labs, which originated ventures resulting in substantial aggregate value. |
Who has invested in Cellarity?
6 investors have backed Cellarity across its funding rounds, including Flagship Pioneering, BlackRock, Pictet Private Equity Investors S.A., The Baupost Group, Hanwha Impact Partners and Kyowa Kirin.
Lead investors include Flagship Pioneering.
Cellarity Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 3 | Lead | Dec 2019 | |
 Geneva | 1 | Participant | Feb 2021 | |
| San Francisco, CA | 1 | Participant | Oct 2022 | |
| Boston, MA | 1 | Participant | Feb 2021 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCellarity Competitors
Cellarity competitors include listed companies like Benitec Biopharma and Ropeok Technology Group, and private ones like Peptilogics, Camp Network, Exotel and Gradium.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Pittsburgh, PA | Private | - | - | $420M | - | |
| United States | Publicly listed | - | ($51M) | $396M | - | |
| New York City, NY | Private | - | - | $400M | - | |
 Bangalore | Private | $50M | - | $400M | 8.0x | |
| San Francisco, CA | Private | - | - | $400M | - | |
 China | Publicly listed | $23M | ($28M) | $396M | - |
Cellarity Public Comps
Cellarity is still privately-owned, but its public comps include Benitec Biopharma, Ropeok Technology Group, Larimar Therapeutics, Lumosa Therapeutics, PureTech Health, BridgeBio Oncology, Formycon, Zota Health Care, Recbio and Hansa Biopharma.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($51M) | - | - | (4.3x) | - | |||
| $23M | ($28M) | 18.6x | - | (15.2x) | - | |||
| - | ($165M) | - | - | (1.5x) | (1.6x) | |||
| $1M | ($11M) | 338.8x | 332.7x | (34.6x) | - | |||
| $5M | ($75M) | 27.8x | 13.6x | (1.7x) | (1.4x) | |||
| - | ($145M) | - | - | (1.2x) | (0.8x) | |||
| $51M | ($3M) | 6.9x | 4.6x | (103.3x) | 77.8x | |||
| $56M | $1M | 7.5x | 5.7x | 377.0x | 101.3x | |||
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Common questions about Cellarity
| When was Cellarity founded? | Cellarity was founded in 2017. |
| Where is Cellarity headquartered? | Cellarity is headquartered in Boston, MA, United States. |
| Is Cellarity publicly listed? | No, Cellarity is a private, VC-backed company. |
| What is Cellarity's valuation? | Cellarity was last valued at $398M in its Series B in February 2021. |
| How much funding has Cellarity raised? | Cellarity has raised $294M across 3 funding rounds. |
| What was Cellarity's last funding round? | Cellarity's last funding round was a $121M Series C in October 2022. |
| Who are Cellarity's investors? | Cellarity's investors include Flagship Pioneering, Pictet Private Equity Investors S.A., Hanwha Impact Partners, The Baupost Group, Kyowa Kirin and BlackRock. |
| Which companies are comparable to Cellarity? | Companies comparable to Cellarity include Peptilogics, Benitec Biopharma, Camp Network, Exotel, Gradium and Ropeok Technology Group. |
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