# Code Ocean

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/code-ocean

- Industry: Internet
- Headquarters: New York, US
- Website: www.codeocean.com
- Total disclosed funding: $32M
- Latest round: Series B (May 18, 2022)
- Investors on record: 5

## About

Code Ocean, Inc., based in New York, US, specializes in providing a cloud-based computational science platform that enhances reproducibility in research, particularly for biology, bioinformatics, and machine learning applications.Founded in 2016, Code Ocean, Inc. enables researchers to automate and manage computational tasks through its innovative platform. The firm has secured a total of USD 16.53 mn through 4 funding deals, with its latest financing round being a Series B completed on May 18, 2022. The investment was co-led by M12 and Battery Ventures, and the firm is currently valued at USD 39.80 mn.Code Ocean provides a comprehensive computational science platform designed primarily for the fields of biology, bioinformatics, and machine learning (ML). Their core offerings include Compute Capsules, which encapsulate code, data, environments, and generated results into a single object, enabling reproducible research. The platform supports users in automating, scaling, and managing computational tasks, including data analysis and bioinformatics pipelines, all in a cloud-based environment. With a focus on data management, users can manage data from the cloud and other sources while adhering to FAIR principles. The platform is tailored for various customer segments, including biotech and pharmaceutical companies, research institutes, and academic organizations, serving clients across North America, Europe, and Asia. The self-service capabilities of Code Ocean cater to computational scientists and bioinformaticians, facilitating easy collaboration and reproducibility in scientific research.Code Ocean's revenue model is primarily based on a subscription structure, where clients pay for access to the platform's various capabilities, including the use of Compute Capsules, bioinformatics pipelines, and machine learning functionalities. Subscribers range from individual researchers and small teams to larger organizations in the biotech and pharmaceutical sectors. The pricing plans are designed to accommodate different user needs, with tiered options that scale based on the number of users, computational resources required, and specific features accessed. Transactions are structured as B2B engagements, where organizations enter into agreements for annual subscriptions, ensuring continuous access to the platform's features and updates. Key offerings associated with revenue generation include tools for data analysis, model management, and bioinformatics applications, which are instrumental in enhancing research integrity and collaboration among users.In May 2022, Code Ocean, Inc. raised USD 16.5 mn in Series B funding. The company plans to utilize this funding to extend its platform and hire new teams across engineering, science, marketing, and sales departments. The specifics of upcoming product launches have not been detailed, but the funding will support efforts geared toward enhancing the platform's capabilities.

## Funding rounds

- Series B, May 18, 2022, $17M — Battery Ventures, M12
- Series A, May 17, 2021, $15M — Battery Ventures, EBSCO, Digitalis Ventures, Vaal Investment Partners
- Series A, Jun 11, 2019 — Digitalis Ventures

## Investors

- Digitalis Ventures (https://capitalatlas.ai/funds/digitalis-ventures) — Series A
- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Series A, Series B
- EBSCO — Series A
- Vaal Investment Partners — Series A
- M12 (https://capitalatlas.ai/funds/m12) — Series B