About InnoCentive
InnoCentive is a company based in Waltham (United States) founded in 2001 was acquired by Wazoku in July 2020.. InnoCentive has raised $27.93 million across 4 funding rounds from investors including SAP, Wazoku and Omidyar Network. The company has 27 employees as of December 31, 2022. InnoCentive has completed 1 acquisition, including OmniCompete. InnoCentive offers products and services including Crowd Challenges and Solver Community. InnoCentive operates in a competitive market with competitors including COMATCH, Catalant, Lynk, Arbolus and Inex One, among others.
- Headquarter Waltham, United States
- Employees 27 as on 31 Dec, 2022
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Sectors
Technology
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Phone
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Website
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Social
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- Legal Name Innocentive, Inc.
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Products & Services of InnoCentive
InnoCentive offers a comprehensive portfolio of products and services, including Crowd Challenges and Solver Community. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for posting and solving scientific and technology challenges
Community for solvers to collaborate on innovation tasks
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Funding Insights of InnoCentive
InnoCentive has successfully raised a total of $27.93M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $5.13 million completed in November 2011. 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 Total Funding
- Total Rounds 4
- Last Round Series B — $5.1M
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First Round
First Round
(01 Feb 2006)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2011 | Amount | Series B - InnoCentive | Valuation |
investors |
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| Aug, 2009 | Amount | Series B - InnoCentive | Valuation | Spencer Trask & Co |
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| May, 2008 | Amount | Series B - InnoCentive | Valuation | SAP , In-Q-Tel |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in InnoCentive
InnoCentive has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include SAP, Wazoku and Omidyar Network. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech & Life Science focused early stage VC firm investing in the US
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Founded Year | Domain | Location | |
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Venture capital firm
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Founded Year | Domain | Location | |
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Early-stage life sciences investments are targeted in the healthcare sector.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by InnoCentive
InnoCentive has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include OmniCompete. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Innovation competition events are organized and facilitated for participants.
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2010 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - InnoCentive
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Innocentive Comparisons
Competitors of InnoCentive
InnoCentive operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as COMATCH, Catalant, Lynk, Arbolus and Inex One, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Expert consulting is matched via an online marketplace platform.
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| domain | founded_year | HQ Location |
Expert consultants are matched with businesses through an online marketplace.
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| domain | founded_year | HQ Location |
Enterprise knowledge management is facilitated by a cloud-based collaboration platform.
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| domain | founded_year | HQ Location |
Cloud and AI are integrated into an enterprise social platform.
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| domain | founded_year | HQ Location |
Provider of a platform connecting market researchers with expert networks and survey providers
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| domain | founded_year | HQ Location |
Expert consultants are matched with clients via an online marketplace.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Innocentive
Frequently Asked Questions about InnoCentive
When was InnoCentive founded?
InnoCentive was founded in 2001 and raised its 1st funding round 5 years after it was founded.
Where is InnoCentive located?
InnoCentive is headquartered in Waltham, United States. It is registered at Waltham, Massachusetts, United States.
Is InnoCentive a funded company?
InnoCentive is a funded company, having raised a total of $27.93M across 4 funding rounds to date. The company's 1st funding round was a Series B of $6.5M, raised on Feb 01, 2006.
How many employees does InnoCentive have?
As of Dec 31, 2022, the latest employee count at InnoCentive is 27.
What does InnoCentive do?
InnoCentive was founded in 2001 and is based in Waltham, United States. An online platform is operated as a marketplace for consultants in the innovation and problem-solving sector. Organizations post challenges, solutions are submitted by participants, evaluations are conducted to select viable options, and incentives are provided to chosen solvers. Operations focus on connecting seekers with expertise across various fields.
Who are the top competitors of InnoCentive?
What products or services does InnoCentive offer?
InnoCentive offers Crowd Challenges and Solver Community.
How many acquisitions has InnoCentive made?
InnoCentive has made 1 acquisition, including OmniCompete.
Who are InnoCentive's investors?
InnoCentive has 6 investors. Key investors include SAP, Wazoku, Omidyar Network, Spencer Trask & Co, and In-Q-Tel.
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