About Karuna Therapeutics
Karuna Therapeutics is a company based in Boston (United States) founded in 2009 was acquired by Bristol-Myers Squibb in December 2023.. Karuna Therapeutics has raised $132.1 million across 6 funding rounds from investors including Fidelity Investments, ARE and PureTech Health. The company has 339 employees as of February 29, 2024. Karuna Therapeutics operates in a competitive market with competitors including Jazz Pharmaceuticals, Biogen, Neurocrine, PTC Therapeutics and Biohaven Pharmaceutical, among others.
- Headquarter Boston, United States
- Employees 339 as on 29 Feb, 2024
- Stage Public
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Sectors
Healthcare
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Karuna Therapeutics, Inc.
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Annual Revenue
$654 K-94as on Dec 31, 2023
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Net Profit
$-433.68 M-57as on Dec 31, 2023
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EBITDA
$-494.78 M-71as on Dec 31, 2023
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Total Equity Funding
$132.1 M (USD)
in 6 rounds
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Latest Funding Round
$12 M (USD), Series B
Apr 01, 2019
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Investors
Fidelity Investments
& 10 more
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Employee Count
339
as on Feb 29, 2024
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Acquired by
Bristol-Myers Squibb
(Dec 22, 2023)
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Leadership Team
394 people
Software Development Team
340 people
Senior Team
99 people
Product Management Team
97 people
Operations Team
83 people
Data Analysis and Operations Team
60 people
Sales and Marketing
58 people
Human Resources and Administration
45 people
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Funding Insights of Karuna Therapeutics
Karuna Therapeutics has successfully raised a total of $132.1M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $12 million completed in April 2019. 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 6
- Last Round Series B — $12.0M
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First Round
First Round
(25 May 2011)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2019 | Amount | Series B - Karuna Therapeutics | Valuation | Sofinnova Investments | |
| Mar, 2019 | Amount | Series B - Karuna Therapeutics | Valuation | Arch Venture Partners | |
| Aug, 2018 | Amount | Series A - Karuna Therapeutics | Valuation |
investors |
| 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 Karuna Therapeutics
Karuna Therapeutics has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include Fidelity Investments, ARE and PureTech Health. 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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Venture capital firm focused on life science companies
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Founded Year | Domain | Location | |
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Biotech funding, drug development support, and investment in life sciences.
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Founded Year | Domain | Location | |
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Growth stage tech & life sciences focused VC Firm investing in Asia and the US
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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 Karuna Therapeutics
| 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 |
Financial Statements - Karuna Therapeutics
| 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 |
Karuna Therapeutics Comparisons
Competitors of Karuna Therapeutics
Karuna Therapeutics 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 Jazz Pharmaceuticals, Biogen, Neurocrine, PTC Therapeutics and Biohaven Pharmaceutical, 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 |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Novel biopharmaceutical medicines are developed for unmet medical needs.
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| domain | founded_year | HQ Location |
Therapies for neurodegenerative and immunology disorders are developed.
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| domain | founded_year | HQ Location |
Developer of small molecule therapeutics for endocrine and CNS disorders
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| domain | founded_year | HQ Location |
Small molecule drugs for rare diseases are developed.
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| domain | founded_year | HQ Location |
Therapies for neurological and neuropsychiatric diseases are developed.
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| domain | founded_year | HQ Location |
Genetically engineered cell therapies are developed for multiple disorders.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Karuna Therapeutics
Frequently Asked Questions about Karuna Therapeutics
When was Karuna Therapeutics founded?
Karuna Therapeutics was founded in 2009 and raised its 1st funding round 2 years after it was founded.
Where is Karuna Therapeutics located?
Karuna Therapeutics is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Who is the current CEO of Karuna Therapeutics?
Steven M Paul is the current CEO of Karuna Therapeutics.
Is Karuna Therapeutics a funded company?
Karuna Therapeutics is a funded company, having raised a total of $132.1M across 6 funding rounds to date. The company's 1st funding round was a Series A of $42M, raised on May 25, 2011.
How many employees does Karuna Therapeutics have?
As of Feb 29, 2024, the latest employee count at Karuna Therapeutics is 339.
What is the annual revenue of Karuna Therapeutics?
Annual revenue of Karuna Therapeutics is $654K as on Dec 31, 2023.
What does Karuna Therapeutics do?
Karuna Therapeutics was founded in 2009 and is headquartered in Boston, United States. Focus is placed on developing pharmaceutical therapies within the biotechnology sector to address psychosis and cognitive impairment. Operations center on advancing muscarinic receptor agonists, with KarXT serving as a key oral candidate targeted at schizophrenia and psychosis associated with Alzheimers disease. Clinical development and regulatory efforts are conducted primarily in the U.S.
Who are the top competitors of Karuna Therapeutics?
Karuna Therapeutics's top competitors include Jazz Pharmaceuticals, PTC Therapeutics and Neurocrine.
Who are Karuna Therapeutics's investors?
Karuna Therapeutics has 11 investors. Key investors include Fidelity Investments, ARE, PureTech Health, Arch Venture Partners, and Bristol-Myers Squibb.