Patsnap is an intellectual property analytics company. It operates a software platform that uses AI technology to combine millions of data points from patents, licensing, litigation, and other sources to provide intelligence that helps companies streamline research and development (R&D) departments.
Its main solutions include IP Intelligence (to track patent filings in the market, including competitors), R&D intelligence (tracking all sorts of R&D-related data points such as market reports, government grants, and clinical trials to provide R&D insights), Life Science (sequence-searching platform), and Chemical (validate chemical development projects by analyzing big data). The life science-focused solution, PatSnap Bio, allows pharma companies to search for protein, DNA, and RNA sequences within patent and non-patent sources in order to improve their R&D process.
Key customers and partnerships
As of March 2024, PatSnap has more than 12,000 customers across 50 countries. It has partnered with Chemical Abstracts Service, a division of the American Chemical Society, to receive wide coverage of manually curated patents and non-patent sequences from proprietary sources (March 2020).
Funding and financials
In March 2021 , PatSnap raised USD 300 million in a Series E funding round led by SoftBank Vision Fund 2 and Tencent Investment. The proceeds were aimed to further develop the company’s intelligence platform, accelerate software product development, and expand the global sales team.
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