PatSnap — Leading IP Analytics and Management Platform — Raises Series C
Perhaps even now, you are still unfamiliar with the patents market; or perhaps you do not yet understand the importance of intellectual property (IP) rights. However, in the internet era, “IP” is a buzzword that you must have heard and be familiar with. The high-tech products that are emerging all around you — new-energy vehicles that fire up the public’s imagination; impossibly-cool driverless cars; and even the evergreen Japanese rice cooker — these have all been made possible, sustained, and protected by technologies that are covered under IP.
The rising world of IP is testament to this saying: “The 21st century is bound to be the era of the knowledge economy, and technical innovation is the soul of the knowledge economy era…”
PatSnap seeks to serve as the guiding beacon for technological innovation.
Recently, IP information services vendor PatSnap announced that it has completed its Series C funding round with the lead investor Sequoia Capital China and the co-investor Shunwei Capital (founded by Lei Jun and Tuck Lye Koh)!
We understand that PatSnap is an SaaS company that was founded in Singapore and which is rooted in China. The company provides users around the world with IP information services. PatSnap, which is headquartered in Singapore, has branches in London, U.K; Silicon Valley; Beijing; Shanghai; and Suzhou. The company employs over 200 researchers around the world.
In the opinion of Tuck, Shunwei Capital founding partner: “From the global perspective, we have always been positive about business models that make use of China’s technologies to develop competitive strengths and to create quality products for the global market. PatSnap is an excellent example of such start-ups. I very much admire PatSnap’s technical and product innovations in the field of IP services. I believe that in the near future PatSnap will grow to become a Chinese and global leader in the IP services market and continue to help even more customers in their innovation and development efforts by creating even better products.”
“The company being a tech-centered SaaS firm that is rooted in China, PatSnap is committed to providing out customers with even more professional products and services,” revealed Jeffrey Tiong, co-founder of PatSnap. Currently, PatSnap serves over 3,000 customers both within and outside of China, who hail from industries such as biomedicine, chemistry, fast-moving consumer goods, the semiconductor industry, telecommunications, the smart hardware industry, and the internet industry, etc. “In the last few decades, PatSnap’s investments in innovation in various countries around the way have grown. IP is a strong weapon in protecting innovation, and market prospects are good,” said Tiong.
It is known that PatSnap’s product line includes a global patent database, a patent reporting and analysis system (“Insights”), a patent management system, an IP rights management system, and the PatSnap Academy, with its products and services covering areas such as patent search, patent analysis, process management, trademark management, and IP training. Its flagship patent database provides information on over 100 million patents around the world, and has been recommended by numerous IP professionals, enterprise and institutional researchers, patent lawyers, and agents.
Thanks to the company’s commitment to innovation and its tireless efforts, PatSnap has won as customers some very familiar big names. Apart from serving globally-renowned names such as the U.S. National Aeronautics and Space Administration and the Massachusetts Institute of Technology, domestically PatSnap has also won the favor of established names such as Xiaomi, Baidu, Sinopec, China Mobile, Mengniu, and UnionPay.
Guan Dian, co-founder of PatSnap said: “In the last few years, the IP market in China has developed swiftly. We are a young but professional team, and we have great confidence that we will soar above this vast sea.”
In the internet era today, even more IP rights are involved when it comes to new technologies and creative industries. On a certain level, intangible assets as exemplified by IP rights have already become the core assets of the enterprise. IP rights’ contribution to GDP and the employment opportunities and income growth that IP rights provide have already become key indicators in measuring a nation’s economic development and national strength. Moreover, in recent years, the IP industry has been frequently mentioned in policy documents issued by the state, and a growing number of enterprise have begun to place an emphasis on IP in their work and have started to implement a patent strategy as a key means of enhancing enterprise competitiveness.
PatSnap, an internet＋IP new player that is on a swift rise, works continuously to keep abreast of developments and trends in world tech developments. The PatSnap team comprises elites from over 20 nations (e.g., Singapore, the UK, and Germany) as well as talents from well-known domestic internet companies like BAT, and is well-placed to work in service of society in an even better, detail-oriented, and outstanding manner.
“Amidst deepening interest in both mass entrepreneurship and innovation, everyone — from Fortune Top 500 companies to small- and medium-sized enterprises that have been working hard and smart in their respective fields — will place greater importance to their IP rights, which they will protect more vigorously. With this new round of funding, PatSnap will work even harder to expand its product development capabilities and continue to innovate,” said Guan, who is clearly full of confidence about the future. “I hope that in the near future we will be able to provide even better services to even more customers, and help our customers to realize business value.”
