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- Terray Therapeutics
Terray Therapeutics Valuation, Funding & Investors
Terray Therapeutics is valued at $600M as of October 2024.
Last Terray Therapeutics valuation
$600M
Series B · Oct 2024
Last Terray Therapeutics funding round
$120M
Series B · Oct 2024
Cumulative funding Terray Therapeutics raised
$200M
across 4 funding rounds
Key investors in Terray Therapeutics
Digitalis Ventures
Two Sigma Ventures
Madrona
Alexandria Venture Investments
KdT Ventures
Goldcrest Capital
About Terray Therapeutics
Terray Therapeutics is a Los Angeles-based biotechnology company, founded in 2018, that uses artificial intelligence and ultra-high-throughput experimentation to accelerate small-molecule drug discovery. Its proprietary platform, tNova, integrates generative AI with experimental data at scale, combining automation, nanotechnology, medicinal chemistry, and biology to improve the speed, cost, and success rate of therapeutic development. The company has built what it describes as the world's largest chemistry dataset, with more than 5 billion target-ligand interactions measured over three years, and has established partnerships with Bristol Myers Squibb and Calico Life Sciences.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$600M (Oct 2024)
Terray Therapeutics Valuation
Terray Therapeutics is currently valued at $600M, based on its Series B in October 2024.
The $120M round was led by Bedford Ridge Capital and NVentures, with participation from Digitalis Ventures, Alexandria Venture Investments, Maverick Capital, Goldcrest Capital, XTX Ventures and 3 other investors.
Terray Therapeutics' valuation has grown 6.5x from $93M at its seed round in June 2021 to $600M in October 2024, across 2 priced rounds.
Terray Therapeutics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2024 | Series B | $600M |
| Jun 2021 | Seed | $93M |
Terray Therapeutics Funding History
Terray Therapeutics has raised a total of $200M across 4 funding rounds.
Terray Therapeutics' first fundraising round was a $5M seed round in March 2019. The most recent completed round was a $120M Series B in October 2024.
Terray Therapeutics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2024 | Series B | Bedford Ridge Capital (lead); NVentures (lead); Digitalis Ventures; Alexandria Venture Investments; Maverick Capital; Goldcrest Capital; XTX Ventures; What If Ventures; Madrona; Two Sigma Ventures | $120M | $600M | Terray Therapeutics is a Los Angeles-based biotechnology company founded in 2018 that uses artificial intelligence and ultra-high throughput experimentation to accelerate small molecule drug discovery and development. The company's proprietary platform, tNova, integrates generative AI with experimental data at unprecedented scale, combining automation, nanotechnology, medicinal chemistry, and biology to improve the speed, cost, and success rate of therapeutic development. Terray has built the world's largest chemistry dataset with over 5 billion target-ligand interactions measured in the past three years, approximately 50 times larger than all publicly available chemistry research data, with the dataset doubling annually. On October 17, 2024, Terray closed a $120 million Series B funding round at a $600 million post-money valuation. The round was led by new investor Bedford Ridge Capital and existing investor NVentures (NVIDIA's venture capital arm), with participation from Maverick Capital, Goldcrest Capital, Madrona Ventures, Two Sigma Ventures, XTX Ventures, Digitalis Ventures, and Alexandria Ventures. The Series B was exactly double the size of Terray's Series A round, which raised $60 million in early 2022, bringing total equity financing to over $200 million since inception. Terray intends to deploy the capital to advance its internal immunology programs into clinical trials and further develop the tNova platform, which powers both internal and partnered programs. The company has established strategic partnerships with Bristol Myers Squibb and Alphabet subsidiary Calico Life Sciences on multi-target collaborations across various therapeutic areas. |
| Feb 2022 | Series A | Madrona (lead); Bienville Capital; Digitalis Ventures; Alexandria Venture Investments; KdT Ventures; Goldcrest Capital; Greentrail Capital; Sahsen Ventures; XTX Ventures; Two Sigma Ventures | $60M | - | Terray Therapeutics is a Pasadena, California-based biotechnology company that develops an AI-powered drug discovery platform called tNova, leveraging nanotechnology microarrays with millions of molecules for high-throughput drug-target screening, combined with machine learning to map biochemical interactions and accelerate small molecule therapeutics development. The company emerged from three years in stealth mode, following an unannounced $20 million seed round co-led by Digitalis Ventures and Two Sigma Ventures. On February 15, 2022, Terray Therapeutics announced a $60 million Series A funding round led by Madrona Venture Group, with participation from Two Sigma Ventures, Digitalis Ventures, KdT Ventures, Goldcrest Capital, XTX Ventures, Sahsen Ventures, Greentrail Capital, Alexandria Venture Investments, and others, matching the specified investors. The proceeds are designated to advance the company's preclinical therapeutics pipeline, enhance the tNova platform, and expand discovery partnerships. Terray differentiates through its integrated experimental and computational approach, generating high-quality chemical data at unprecedented scale to power AI models in the complex domain of small molecule drug discovery. The team comprises experts in AI, synthetic chemistry, biology, automation, and nanotechnology, positioning Terray at the intersection of life sciences and computer science. No financial metrics such as post-money valuation, revenue, ARR, EBITDA, or valuation multiples are disclosed in the announcements. The company operates in the competitive AI-enabled drug discovery market alongside players like Insilico Medicine and Recursion, focusing on precise therapies for unmet medical needs. |
| Jun 2021 | Seed | Digitalis Ventures (lead); Two Sigma Ventures (lead) | $15M | $93M | Terray Therapeutics raised in a Series Seed-1 round on June 30, 2021, led by Digitalis Ventures and Two Sigma Ventures, with $1.39 million in funding at a post-money valuation of $93.37 million. The company develops small molecule therapeutics using a novel spatially encoded screening and optimization platform called tArray to address intractable diseases. Based in Pasadena, California, Terray integrates computation with novel data at scale to improve drug development. This seed round contributed to Terray's early funding, preceding later rounds including a Series A in February 2022 raising nearly $60 million at a $286 million post-money valuation, and a Series B in 2024 raising $120 million at around $386 million valuation. Investors in the 2021 round included key backers that continued participation in subsequent financings. The platform has since supported partnerships with companies like Bristol Myers Squibb, Calico, and Gilead Sciences for novel small molecule discovery. |
| Mar 2019 | Seed | Two Sigma (lead); Digitalis Ventures; KdT Ventures | $5M | - | Terray Therapeutics launched as a biotechnology company developing an AI-driven platform for small molecule drug discovery using high-throughput experimentation and computation at scale. The company raised a previously unannounced $20 million seed round co-led by Digitalis Ventures and Two Sigma Ventures around March 2019, prior to its $60 million Series A in February 2022 led by Madrona Venture Group. KdT Ventures participated in the Series A alongside Two Sigma Ventures, Digitalis Ventures, and others. This seed funding supported building the tNova platform to generate premium chemical data, addressing limitations in existing datasets for AI models in drug development. The platform integrates nanotechnology, automation, medicinal chemistry, and generative AI to create the world's largest chemistry dataset with over 5 billion target-ligand interactions. Terray applies this to its internal pipeline targeting immunological diseases and partnerships with Bristol Myers Squibb and Calico. |
Who has invested in Terray Therapeutics?
15 investors have backed Terray Therapeutics across its funding rounds, including Digitalis Ventures, Two Sigma Ventures, Madrona, Alexandria Venture Investments, KdT Ventures and Goldcrest Capital.
Lead investors include Bedford Ridge Capital, NVentures, Madrona, Digitalis Ventures, Two Sigma Ventures and 1 other investor.
Terray Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Mar 2019 | ||
| 3 | Lead | Jun 2021 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Participant | Mar 2019 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Lead | Feb 2022 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Lead | Oct 2024 | ||
| 1 | Lead | Oct 2024 | ||
| 1 | Lead | Mar 2019 | ||
| 1 | Participant | Oct 2024 | ||
| 1 | Participant | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 15 Terray Therapeutics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialTerray Therapeutics Competitors
Terray Therapeutics competitors include listed companies like Novartis India and Allogene Therapeutics, and private ones like Alpha Biopharma, Sonoma Biotherapeutics, Huaota Biopharm and Letu.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $595M | - | ||
| Publicly listed | $37M | $10M | $536M | - | ||
| Private | - | - | $732M | - | ||
| Private | - | - | $440M | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | - | ($197M) | $598M | 122.7x |
Terray Therapeutics Public Comps
Terray Therapeutics is still privately-owned, but its public comps include Allogene Therapeutics, Bright Minds Biosciences, Alkaloid, Agomab Therapeutics, Avalon Pharma, Cormedix, Scribe Therapeutics, TTY Biopharm, Shattuck Labs and CytomX Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($197M) | - | 122.7x | (1.7x) | (1.7x) | |||
| - | ($10M) | - | - | (39.2x) | (10.0x) | |||
| $391M | $62M | 1.7x | - | 10.7x | - | |||
| - | ($74M) | - | 975.9x | (4.2x) | (3.8x) | |||
| $123M | $34M | 5.1x | 4.6x | 18.2x | 18.3x | |||
| $312M | $164M | 1.6x | 1.5x | 3.0x | - | |||
| $51M | ($21M) | 14.2x | - | (34.0x) | - | |||
| $203M | $72M | 2.9x | 2.8x | 8.3x | - | |||
This data is available for Pro users. Sign up to see all Terray Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Terray Therapeutics
| When was Terray Therapeutics founded? | Terray Therapeutics was founded in 2018. |
| Where is Terray Therapeutics headquartered? | Terray Therapeutics is headquartered in Los Angeles, CA, United States. |
| Is Terray Therapeutics publicly listed? | No, Terray Therapeutics is a private, VC-backed company. |
| What is Terray Therapeutics' valuation? | Terray Therapeutics was last valued at $600M in its Series B in October 2024. |
| How much funding has Terray Therapeutics raised? | Terray Therapeutics has raised $200M across 4 funding rounds. |
| What was Terray Therapeutics' last funding round? | Terray Therapeutics' last funding round was a $120M Series B in October 2024, led by Bedford Ridge Capital and NVentures. |
| Who are Terray Therapeutics' investors? | Terray Therapeutics' investors include Digitalis Ventures, Two Sigma Ventures, Alexandria Venture Investments, KdT Ventures, Goldcrest Capital, XTX Ventures, Madrona, Bienville Capital, NVentures, Bedford Ridge Capital and 5 others. |
| Which companies are comparable to Terray Therapeutics? | Companies comparable to Terray Therapeutics include Alpha Biopharma, Novartis India, Sonoma Biotherapeutics, Huaota Biopharm, Letu and Allogene Therapeutics. |
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