# ProteinSimple

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/proteinsimple

- Industry: Biopolymers
- Headquarters: Santa Clara, US
- Website: www.proteinsimple.com
- Total disclosed funding: $85M
- Latest round: Series F (May 24, 2011)
- Investors on record: 9

## About

ProteinSimple is a specialized company focused on providing advanced analytical instruments and reagents for protein research, facilitating rapid and accurate protein analysis for its clients.Founded in 2004 and headquartered in Santa Clara, US, ProteinSimple develops instruments that cater to protein research. The company was acquired by Bio-Techne Corporation in June 2014 for USD 300 mn, marking a strategic pivot in its operational framework. The total amount raised during its funding rounds reached USD 300 mn, with Bio-Techne Corporation being the primary investor.ProteinSimple specializes in the development, manufacturing, and distribution of advanced analytical instruments and reagents tailored for protein research. The company's flagship products include the Simple Western, iCE, Ella, and Milo systems. These instruments are designed to facilitate high-throughput protein analysis, enabling researchers to obtain critical data on protein quantity, identity, expression, isoform variations, and purity within hours. For instance, Simple Western offers an automated platform that processes small sample volumes, providing rapid results essential for drug development and biomarker discovery. The iCE system is specifically engineered for intact protein characterization, while Ella provides a benchtop solution for automated ELISA applications. ProteinSimple serves a diverse clientele, which includes academic laboratories, pharmaceutical companies, and biotechnology firms across North America, Europe, and Asia, addressing their needs in immuno-oncology, cell therapy, and vaccine development.ProteinSimple generates revenue through a structured model involving direct sales and service agreements with B2B clients, particularly in the pharmaceutical and biotech sectors. The company offers its instruments and associated services as part of a comprehensive package, allowing customers to engage in both one-time purchases and ongoing service contracts. Clients typically initiate transactions by requesting quotes for specific instruments, including the Simple Western and Ella systems, which are then followed by purchase orders. Pricing structures for these high-value instruments reflect their specialized capabilities and the research needs of clients, although specific pricing details are proprietary. With a focus on high-quality, precision diagnostics, ProteinSimple's revenue is bolstered by its reputation for innovation and reliability in the protein research market.Following the acquisition by Bio-Techne Corporation, ProteinSimple aims to leverage additional resources to enhance its product offerings. The company is currently focused on developing new versions of their existing systems, with plans to launch upgraded models by mid-2025. Additionally, ProteinSimple is targeting expansion into the Asia-Pacific market, specifically Japan and South Korea, by 2026. The recent funding from the acquisition will support these initiatives, enabling the company to invest in research and development, as well as market entry strategies.

## Funding rounds

- Series F, May 24, 2011, $13M — Domain Associates, Essex Woodlands, Latterell Venture Partners, Vertical Group, Royal Bank of Canada, Novo Holdings A/S
- Series F, Oct 29, 2010, $20M — Domain Associates, Essex Woodlands, Latterell Venture Partners, Wellcome Trust, Vertical Group, Royal Bank of Canada, Novo Holdings A/S
- Series D, Oct 28, 2009, $15M — Domain Associates, Latterell Venture Partners, Wellcome Trust, Vertical Group, Royal Bank of Canada, Novo Holdings A/S
- Series C, Apr 9, 2009, $10M — Domain Associates, Latterell Venture Partners, Wellcome Trust, Mitsui Global Investment, Vertical Group, Royal Bank of Canada, Novo Holdings A/S
- Series B, Dec 1, 2006, $27M — Domain Associates, Latterell Venture Partners, Wellcome Trust, Mitsui Global Investment, Vertical Group, Royal Bank of Canada, POSCO BioVentures, Novo Holdings A/S

## Investors

- Domain Associates (https://capitalatlas.ai/funds/domain-associates) — Series B, Series C, Series D, Series F
- Latterell Venture Partners (https://capitalatlas.ai/funds/latterell-venture-partners) — Series B, Series C, Series D, Series F
- Wellcome Trust — Series B, Series C, Series D, Series F
- Mitsui Global Investment (https://capitalatlas.ai/funds/mitsui-global-investment) — Series B, Series C
- Vertical Group (https://capitalatlas.ai/funds/vertical-group) — Series B, Series C, Series D, Series F
- Royal Bank of Canada — Series B, Series C, Series D, Series F
- POSCO BioVentures (https://capitalatlas.ai/funds/posco-bioventures) — Series B
- Novo Holdings A/S — Series B, Series C, Series D, Series F
- Essex Woodlands (https://capitalatlas.ai/funds/essex-woodlands) — Series F