# Citrine Informatics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/citrine-informatics

- Industry: Software
- Headquarters: Redwood City, US
- Website: www.citrine.io
- Total disclosed funding: $61M
- Latest round: Series C (Oct 28, 2022)
- Investors on record: 14

## About

Citrine Informatics, based in the US, develops an advanced enterprise SaaS platform for the materials and chemicals sector, utilizing generative artificial intelligence to improve product development and production efficiency.Founded in 2013, Citrine Informatics specializes in providing an enterprise SaaS platform that supports the materials and chemicals industries. The company is headquartered in Redwood City, US. It has completed a total of 10 deals, with its most recent funding round, a Series C, occurring on September 15, 2023, where it raised USD 5.00 mn. The company's current valuation stands at USD 132.54 mn. The co-founders, Bryce Meredig, Dinahlee Saeteune, and Greg Mulholland, have contributed to the firm's growth, with Greg Mulholland serving as the current CEO.Citrine Informatics offers a sophisticated enterprise SaaS platform tailored for the materials and chemicals sector, leveraging generative artificial intelligence to enhance product development, production, and sales. The platform integrates multiple functionalities, including Citrine DataManager, which captures and organizes knowledge from various data sources such as spreadsheets and lab notebooks, enabling companies to unlock their intellectual property. Citrine VirtualLab allows users to conduct virtual experiments, targeting specific features like cost reduction and enhanced performance, while Citrine Catalyst facilitates rapid access to relevant research through natural language inquiries. The company serves a diverse clientele across industries, including specialty chemicals, automotive, aerospace, and consumer electronics, primarily targeting markets in North America, Europe, and Asia-Pacific.The revenue model for Citrine Informatics is structured around subscription-based services that cater to the needs of B2B clients in the materials science sector. Customers typically engage with the platform through annual subscriptions, which grant access to all core products and continuous updates. Clients benefit from tailored support during implementation and ongoing usage, ensuring efficient integration of Citrine's tools into their existing workflows. The firm's flagship offerings, including Citrine DataManager and Citrine VirtualLab, are bundled within these subscription packages, enabling clients to derive significant value from their investment. Specific pricing details for individual products or services are established during client agreements, reflecting the bespoke nature of their solutions to meet varying customer requirements.Citrine Informatics plans to utilize the recent Series C funding of USD 5.00 mn, raised in September 2023, to accelerate the development of new products aimed at enhancing their platform capabilities. The company is also targeting expansion into new markets in Asia-Pacific and Europe to increase its client base by the end of 2024. The funding will support these initiatives, focusing on product innovation and market penetration.

## Funding rounds

- Series C, Oct 28, 2022, $13M — Prelude Ventures, Far Eastern Group, ISAI, Innovation Endeavors, Presidio Ventures, Alumni Ventures Group
- Series B, Oct 23, 2020, $12M — Universal Materials Incubator
- Series B, Oct 10, 2019, $20M — N47, Prelude Ventures, Innovation Endeavors, Moore Strategic Ventures
- Series A, Jun 7, 2017, $7.6M — Innovation Endeavors, X/Seed, DCVC, AME Cloud Ventures, Prelude Ventures
- Series A, May 9, 2016, $8.8M — Prelude Ventures, Morado Ventures, Ulu Ventures, Innovation Endeavors, X/Seed, DCVC, AME Cloud Ventures
- Seed, Sep 5, 2014 — Prelude Ventures, Morado Ventures, Ulu Ventures, Innovation Endeavors, X/Seed, AME Cloud Ventures

## Investors

- Prelude Ventures — Seed, Series A, Series B, Series C
- Morado Ventures (https://capitalatlas.ai/funds/morado-ventures) — Seed, Series A
- Ulu Ventures (https://capitalatlas.ai/funds/ulu-ventures) — Seed, Series A
- Innovation Endeavors (https://capitalatlas.ai/funds/innovation-endeavors) — Seed, Series A, Series B, Series C
- X/Seed (https://capitalatlas.ai/funds/x-seed) — Seed, Series A
- AME Cloud Ventures (https://capitalatlas.ai/funds/ame-cloud-ventures) — Seed, Series A
- DCVC (https://capitalatlas.ai/funds/dcvc) — Series A
- N47 (https://capitalatlas.ai/funds/n47) — Series B
- Moore Strategic Ventures (https://capitalatlas.ai/funds/moore-strategic-ventures) — Series B
- Universal Materials Incubator (https://capitalatlas.ai/funds/universal-materials-incubator) — Series B
- Far Eastern Group — Series C
- ISAI (https://capitalatlas.ai/funds/isai) — Series C
- Presidio Ventures (https://capitalatlas.ai/funds/presidio-ventures) — Series C
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series C