How Much Did Pendulum Therapeutics, Inc. Raise? Funding & Rounds and Investors

Pendulum Therapeutics, Inc., founded in 2012 and headquartered in San Francisco, operates within the biotechnology sector, focusing on microbiome interventions and drug development to address chronic illnesses, particularly type 2 diabetes. Co-founded by Colleen Cutcliffe (CEO), John Eid (CSO), and Jim Bullard, Pendulum leverages scientific advancements in microbiology and biochemistry to develop innovative therapeutics that blend pharmaceutical rigor with the accessibility of probiotics.

Pendulum Therapeutics, Inc. funding history showcases a robust approach to venture capital, having secured approximately $149 million across multiple funding rounds. The company’s funding strategy has attracted support from prominent investors such as Fonterra, Meritech, Sequoia Capital, and True Ventures. Spanning at least four major funding rounds—including seed, Series B, and multiple Series C investments—Pendulum’s funding journey has supported critical milestones in research, development, and market expansion. The proceeds from these rounds have fueled product development, clinical trials, and commercial scaling of its microbiome-based therapeutics, positioning Pendulum as a leader in evidence-based gut health solutions.

Funding Rounds

Series C - Undisclosed Amount - June 27, 2023

This latest Series C round led by Fonterra was aimed at supporting continued product development, market expansion, and scaling of Pendulum’s commercial efforts.

Series C - $54M - April 7, 2021

The $54 million raised in this Series C round, led by Meritech, was designated for accelerating growth and expanding Pendulum's product pipeline, strengthening their market presence in microbiome therapeutics.

Series B - Undisclosed Amount - May 30, 2019

The Series B funding round, led by Sequoia Capital and True Ventures, focused on market expansion and scaling the company’s operations to enhance reach and distribution of their products.

Seed - $4M - December 15, 2014

Pendulum’s $4 million seed round, with Sequoia Capital and True Ventures as leading investors, provided the initial capital for early product development and company launch.

Key Investors

Fonterra

Fonterra led Pendulum’s most recent Series C round. Fonterra is a multinational dairy cooperative based in New Zealand known for investing in innovations in health and nutrition. Their support underscores confidence in Pendulum’s microbiome science and commercial vision.

Meritech

Meritech, a prominent venture capital firm specializing in late-stage investments, played a pivotal role in Pendulum’s $54 million Series C round. Their backing has enabled Pendulum to accelerate its growth trajectory and product expansion strategy.

Sequoia Capital

Sequoia Capital is a globally recognized venture capital firm that invested in both the seed and Series B rounds. Their early and continued investment has provided strategic guidance and credibility, enabling Pendulum to scale from scientific research into commercial reality.

True Ventures

True Ventures is an early-stage venture capital firm that co-led Pendulum’s seed and Series B rounds. Their support was instrumental in turning Pendulum’s scientific innovation into market-ready solutions.

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