About Covalent Data
Covalent Data is a Healthcare company based in Denver (United States) founded in 2011, and was acquired by Wellspring in July 2017. Licensing opportunities for technologies are identified through innovation intelligence platforms. Covalent Data has raised $4.75 million across 3 funding rounds from investors including Wellspring and High Country Ventures. Covalent Data offers products and services including Accolade, Scout, Evolve, and Astria. Its focus areas include HealthTech, Life Sciences Tech, Research & Development and Drug Informatics. Its competitors include ProQuest, Authorea and Research Solutions; 2 of its 3 listed competitors have raised funding.
Company details
Founded in 2011 and based in Denver, United States, Covalent Data operates in the technology sector as a platform for licensing and innovation intelligence. Public and private data sets are integrated to map the global innovation landscape, enabling the tracking of inventions from initial research to commercialization. Trends are analyzed, opportunities are evaluated, and connections among ecosystem participants are facilitated.
- Headquarters Denver, United States
- Stage Acquired
- SectorsHealthcare
- Email••••••••
- Website covalentdata.com
- Social LinkedIn X Facebook
- Acquired by Wellspring (Jul 2017)
- Total Equity Funding$4.75M (USD)
in 3 rounds
- Latest Funding Round$1.2M (USD), Series A
Apr 2016
- InvestorsWellspring
& 1 more
- Acquired byWellspring
(Jul 2017)
Products & Services of Covalent Data
Covalent Data offers a comprehensive portfolio of products and services, including Accolade, Scout, Evolve, and Astria.
Tool for managing innovation processes and strategies
Platform for searching and identifying technologies
Software for evolving innovation strategies
System for handling intellectual property tasks
Funding Insights of Covalent Data
Covalent Data has successfully raised a total of $4.75M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $1.2 million completed in April 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $4.75M
- Total Rounds 3
- Last Round Series A — $1.2M
- First Round $1.05M
(Jun 2012)
- Investors Count 1
All 3 funding rounds of Covalent Data with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2016 | $1.2M | Series A | – | High Country Ventures | – |
| Nov 2013 | $2.5M | Series A | – | High Country Ventures | – |
| Jun 2012 | $1.05M | Seed | – | – | – |
2 investors in total: 2 institutional.
Investors in Covalent Data
Covalent Data has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Wellspring and High Country Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage centric life sciences and tech focused VC firm investing primarily in the US | highcountryventure.com | Boulder, United States | ||
AI platform for technology scouting and corporate venturing is offered. | 2003 | wellspring.com | Chicago, United States |
Investor details for Covalent Data
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Timeline of Covalent Data
4 dated milestones of Covalent Data across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Covalent Data is founded.
- Funding First funding round of $1.0M.
- Funding Latest funding round, Series A, of $1.2M.
- Exit Acquired by Wellspring.
Competitors of Covalent Data
Covalent Data has 3 listed competitors in our database, 2 of them funded. They include ProQuest, Authorea and Research Solutions.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| proquest.com | 2008 | Ann Arbor, United States | Research content is delivered via online platforms to libraries. | |||
| authorea.com | 2012 | New York, United States | $2.11M | 88 | Collaborative platform for research and learning | |
| researchsolutions.com | 2006 | Henderson, United States | $12.06M | 34 | AI-powered solutions for scholarly content access and management are provided. |
Detailed competitors of Covalent Data
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- Full competitor set
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Top companies in Life Sciences Platforms & Tools
3 companies that operate in the same segment as Covalent Data (Life Sciences Platforms & Tools) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Medidata is recognized as a leading provider of SaaS solutions for clinical research. | 1999 | New York, New York, United States | USD 41.5 M | |||
AI-based solutions for health management are provided. | 2015 | Dallas, Texas, United States | USD 2.8 B | 1,111 | ||
Real-world health data is provided for research and decisions. | 2012 | Menlo Park, California, United States | USD 259.16 M |
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Frequently Asked Questions about Covalent Data
Covalent Data was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Covalent Data is headquartered in Denver, United States. It is registered at Denver, Colorado, United States.
Covalent Data is a funded company, having raised a total of $4.75M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.05M, raised on Jun 2012.
Founded in 2011 and based in Denver, United States, Covalent Data operates in the technology sector as a platform for licensing and innovation intelligence. Public and private data sets are integrated to map the global innovation landscape, enabling the tracking of inventions from initial research to commercialization. Trends are analyzed, opportunities are evaluated, and connections among ecosystem participants are facilitated.
Covalent Data's top competitors include ProQuest, Research Solutions and Authorea.
Covalent Data offers Accolade, Scout, Evolve, and Astria.
Covalent Data has 2 investors. Key investors include Wellspring, and High Country Ventures.
Yes. Covalent Data was acquired by Wellspring in July 2017.