Search our database of over 100 million company and executive profiles. Its been natural to extend our capabilities from research to development and were exploring expanding solutions through to manufacturing. Leaving Research for Good - LinkedIn In 2011, Rodman took that idea to start Lehi, Utah-based Weave. Motta, 36, who previously fought against cyberspace adversaries while at the CIA, joined forces with Hering, the 37-year-old former CEO of mobile cybersecurity unicorn Lookout, to launch the San Francisco-based firm. We are customer-obsessed. Instead She Built A $200 Million Business. All Rights Reserved. Today, thanks to sophisticated machine learning, that number has surged to roughly 40%, gaining customers that include Broadcom and LinkedIn. the company is worth more than . Li: What do the next five years look like for Benchling and how will you need to adapt as CEO to make that vision come true? He encouraged us to focus on serving scientists, even if it meant giving up short-term revenue opportunities. So he built Benchling, now worth $6 billion and backed by over $400 million in VC funding. Contact Information. Back when he was an undergrad building the company in his dorm room, he simply wanted to address the difficulties hed seen scientists and researchers face in the lab. Biotech R&D Software Startup Benchling, Started By MIT Undergrads From improving lab-grown meats to creating more sustainable consumer packaged goods and materials for the planet, were seeing the beginning of a massive global shift towards biotech and the building of a biotech economy. It is mission critical.. Its not just happening in medicine. After devastating wildfires ripped through Californias wine country (where Abraham and Pechet each have homes) in 2017, the cofounders started Homebound in nearby Santa Rosa to help other homeowners rebuildmanaging each step from building permits and insurance claims to design and construction. In May, the company raised $87 million, valuing it at $850 million. 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As you shift to manipulating living cells, the data you work with is more complex, Wickramasekara says.Defaulting to paper and spreadsheets wasnt an option for them anymore., Brandon Reeves, a principal at Lux Capital, who led the firms recent investment in Benchling, says he kept hearing about Benchling from executives at the healthcare and life sciences company in its portfolio. In the long run, he says, the investment in biotech is going to go up. Our lead investor from Thrive Capital discovered Benchling because he had a scientist friend who had used the product. As our customers evolve biotech, we evolve too. You may opt-out by. For the sixth year in a row, Forbes has teamed up with TrueBridge Capital Partners to search the country for the 25 fastest-growing venture-backed startups most likely to reach a $1 billion valuation. Wickramasekara and an MIT classmate founded Benchling in 2012 to be a digital version of a scientist's lab notebook. We focused on a great experience for these academic scientists. Instead, we focused on building tools that would win the hearts and minds of scientists in academia and the next generation of biotech startups. For companies of that size, a key growth strategy for us is land and expand, reflecting the fact that once customers adopt our R&D Cloud and realize its value, their usage often grows organically, expanding across use cases and teams. He Left MIT At 22 To Solve A Problem Investors Didnt Get. Synthetic Biology: Twist Bioscience Revenue Growing From $2 To $200 Million As It Eyes The $186 Billion Antibody Market. Today Homebound is rebuilding 150 homes lost to fires. In contrast, in the Biology lab, where I was doing arguably more impactful and complex work, all we had at our disposal were Excel spreadsheets and paper notebooks. is a line item for enterprise IT.. Why Are Some Companies Still Short Semiconductor Chips When Others Are Swimming In Them? Cofounders Junio and Kraning came up with the idea for Expanse while serving as consultants to Darpa, the Department of Defenses research arm. We invest in so much biotech that spends money on Benchling, he says. Its like having Google versus a human-curated directory, he says. Were not going to launch one at a time. I realized that with declining costs of computation, bandwidth and data storage startups could now index the internet for exposures the same way governments with huge budgets could, says Junio, 36. Yet. Founders Peterson, Galbreath and Lackey met as developers at Etsy, where they designed cybersecurity for the sites e-commerce operations. Click on the conversation bubble to join the conversation, nearly five times what it was worth last May. forbes.com Biotech R&D Startup Benchling Hits $4 Billion Valuation As The Company Starts Laying Groundwork For An IPO 445445 The system, which counts among its funders Andreessen Horowitz, helps researchers contextualize and collaborate on genome engineering data. Biotech . SmartRent brings smart home technology, such as smart locks and thermostats, to multifamily properties. Company. The startups software manages employees payroll, benefits, hardware and applications all in one place, making sure that onboarding employees goes smoothly and saving small and medium-size businesses time on administrative work. Today, Wickramasekara joins the ranks of unicorn founders as Benchling hits a $4 billion valuation. The San Francisco-based company currently manages $500 million of debt, a number thats likely to grow as consumer debt mounts. What They Did With Them Might Surprise You. So he was relieved to sign on with Benchling just over a year ago, even though, as he says, its not an insignificant expense for a startup. So. That valuation nearly five times what it was worth last Maycomes as the company raised $200. Though the Covid-19 pandemic has slowed Andelas plans for expansion as companies freeze hiring, Johnson argues that over the long term it will increase companies comfort with hiring workers thousands of miles away. Sajith M. Wickramasekara's 6 research works with 36 citations and 88 reads, including: Table S2. Having smart, user-friendly software that enables collaboration can be the difference in a major breakthrough. Hed studied computer science and spent time in a biology lab, and was frustrated with how the reliance on paper, email and spreadsheets was holding back research. Today more than ever, companies are aware this is an important part of the puzzle, Ebersman says. Usability should be table stakes. Benchling CEO Sajith Wickramasekara (right) cofounded the company with his MIT classmate Ashu Singhal. It also offers retirement and checking accounts for $3 a month. Companies run off the startups cloud-based relational databases, he says, are more resilient, shielded from outages or system failures. Sajith Wickramasekara Founder & CEO at Benchling San Francisco, California, United States 2,976 followers 500+ connections Join to connect Benchling Massachusetts Institute of Technology Articles. And they were our main audience in the beginning. The product had to be good enough that they would adopt it and spread it to their colleagues with no sales or marketing. Eight years later, Regeneron, Gilead and hundreds of other companies use its collaborative R&D software. In 2014, they founded Los Angeles-based Signal Sciences, which protects companies Web apps from cyberattacks. During the coronavirus crisis, [Capsule] went from something that was a convenience to essential, says Kinariwala, 37, who has an M.B.A. from Stanford and previously worked as a retail and healthcare investor. Contracts are the atomic unit of business, but theyre slow, inefficient and uninteresting to make, says Ironclad cofounder Boehmig. So he built Benchling, now worth $6 billion and backed by over $400 million in VC funding. The killer story is a great scientist with a great idea, but for sustained success you have to build systems to manage the information and the data, he says. Weve brought the category into the cloud era, says Kimball. Were going a mile deep in biotech R&D, not a mile wide, and our depth of understanding the industry shows. Next Billion-Dollar Startups 2020 - Forbes Putnam, a 36-year-old former ballerina and founder of boutique fitness studio Refine Method, launched the product two years ago. Additional reporting by Elisabeth Brier, Alex Knapp, Alex Konrad, Christian Kreznar, Samantha Sharf, Glenda Toma and Alexandra Wilson, This is a BETA experience. The alternative to Benchling is often building it all yourself.. According to Forbes, more than 600 selections covering 20 categories were whittled down . Sajith Wickramasekara on LinkedIn: Excited to welcome Paul Robson and While most investors didnt get what Benchling was solving for and how big an opportunity it could be, Y Combinators Paul Graham did and became the first to back the company. With Benchling, Wickramasekara has created a digital version of every scientists Bible: The lab notebook. Excited to welcome Paul Robson and Elena Donio to Benchling! CRM Lyras solution: Help companies offer mental-health benefits to their employees. While this year is for keeping up with demands in nursing, in the longer term, Trusted figures its business model could be adapted to other healthcare workers. Paul Graham wasnt bothered by our originally narrow focus. Thats where Ironclad steps in. Four years after Zenefits controversial founder Conrad resigned under pressure, hes back with Rippling. that he scored a new investment of $50 million from investors led by Alkeon Capital this spring that brings Benchlings total funding to $114 million at a valuation of $850 million. Now, nearly 10 years later, Benchling is a unicorn with a valuation in October 2021 of 6.1 billion. Demand is booming as work that used to happen on intranets now happens over the open web as employees work from home. More than a dozen have signed on. Our customers need us to be stable. We didnt really need the money, he says. Eventually, many of these scientists went to industry and took Benchling with them, which is how we got our first customers. As many customers rush to come up with vaccines and treatments for Covid-19, Benchling is on call as neededbut has stopped pushing software updates to those whose projects require total lockdown. With the coronavirus pushing businesses to rethink operations, Weave has added a curbside waiting room that lets patients text when theyve arrived and businesses respond when theyre ready. The Metaverse Isnt Here. The phone is still super important, [but] nobody has made it more powerful, says Rodman, 39. Since then, Benchling has raised over $400 million from the likes of Andreessen Horowitz, Menlo Ventures, and Altimeter Capital, and is valued at over $6 billion in its latest round of funding. This list represents the 25, in alphabetical order, that we think have the best shot of reaching the billion-dollar mark. The Future Will Not Have Flying Cars, But Who Needs Them? Academics typically dont have much money. Saji Wickramasekara, Benchling Inc: Profile and Biography I wanted to pursue a career in biotech. This massive shift were seeing away from an empirical approach to Biology to an engineered Biology where we can now read, write and edit the building blocks of life, is really just beginning. 300 Small Manufacturers In Michigan Got Free 3D Printers. The increasing complexity of biotech research has also helped spur Benchlings growth. He and his cofounder, Ashu Singhal, also a student at MIT, started out by giving their software away for free to academic researchers. Wickramasekara: A common theme with Benchling that started in the early days is that customers begin using our product in an academic setting for free and then often go on to join a startup or enterprise and take Benchling with them. Thats where we fit in.. Li: A startups first few customers tend to be crucial because they can be great sources of feedback and loyal, long-term users who also refer their friends. From its headquarters in New York, Andela works to solve the tech-worker shortage in the United States by identifying and training software developers in Africa and then embedding them into the remote engineering teams of companies like Microsoft, Facebook and Google. Sajith Wickramasekara - Founder & CEO at Benchling - AroundDeal - B2B Wickramasekara: We are still in the early innings of the biotech revolution. SmartRent has partnered with nearly 100 owners, including Essex Property Trust (also an investor) to get its home-tech in 90,000 unitswith a goal to hit 300,000 by year-end. Benchling's CEO/co-founder, Sajith Wickramasekara, spoke at a TechCrunch Live event with one of its early investors, Miles Grimshaw, general partner at Benchmark . Forbes - Sajith Wickramasekara worked as a research | Facebook Serial entrepreneur Brown, 40, has been thinking about how to help people overcome debt since he was a teenager in a household where money was tight. I dont think the world has ever been so focused on biotech R&D before, says Wickramasekara, a Forbes Under 30 alumnus who is now 29. When Fivetrans cofounders, Fraser and Brown, first launched the automated data-integration company in 2012, the pair saw little interest from investors. Five years ago, Kinariwala waited nearly an hour in line at his local Duane Reade to get medication for a sinus infection, only to find out it was out of stock. Some businesses have struggled during the spread of Covid-19 as workers stay home, but San Francisco-based Gong is benefiting. In our conversation, he shares how the team secured its first customer, the way he thinks about product-market fit as an evolving state, and the strategies he used to grow the company from a niche idea to a multi-billion-dollar company. The industry tailwinds have never been stronger, Wickramasekara, now 30, toldForbes. This will increase the need for collaborative software.. True Hybrid: Inspire Through In-Person Work; But Get Things Done Through Remote Work. With a combined net worth of $711 billion, these foreign-born U.S. citizens account for 15% of all American billionaire wealth. Sajith WICKRAMASEKARA | Massachusetts Institute of Technology, MA | MIT We dealt with blackmail, extortion and one kidnapping. We dont have a firmly committed time line [for an IPO], but we are doing the work to get ready, Wickramasekara says. Check BackgroundGet Contact InfoThis Is Me - Edit Sajith's reported annual income is about $200 - 249,999; with a net worth that tops $250,000 - $499,999. Company. We could build apps with friends and bring them to the world overnight. Book Sajith Wickramasekara | Speakers Bureau | Booking Agent Info United States. It also helps prevent those losses by scanning the internet to detect vulnerabilities and alert users to potential threats. Its also diagnostics, agriculture, food, consumer packaged goods. The Houston outfit can then biologically produce ingredients for hand sanitizer and clean up wastewater. Earlier this month, Benchling announced that it had hired its first chief financial officer,Richard Wong, who was previously CFO of Houzz and vice president of finance at LinkedIn, as well as a general counsel and chief information security officer. He focused on dentists at first, then added optometrists, clinics, veterinarians and other professionals, the majority of whom pay $595 per month for its products, including VoIP phones, pay terminals and two-way texting. More than 200,000 scientists around the world use Benchling to conduct cutting-edge research and manage massively complex experimental datasets. Next up, CEO Chakrabarti hopes to develop sustainable fertilizers for farmers. In a Sky News broadcast on 19 November 2021, Ian King interviewed our CEO and co-founder Sajith Wickramasekara following the news of Benchling's Series F fun. Sajith Wickramasekara in CA - Address & Phone Number | Whitepages We expanded from applications beloved by end-users to a mission-critical source of scientific truth for large teams. With the global pandemic, companies realize the supply chain is no longer back-office, Traff says. Li: As Benchling continued to iterate on product and serve more customers, there came a point when the team knew it had reached product-market fit. In 2023, Asia Pacific Will Look To Balance Transformation With Customer And Employee Expectations. Saji discusses our mission, plans for continued expansion in Europe, and more. For example, which stakeholders are the most important to chat with and who on the Benchling team would interact with those stakeholders at each stage of the cycle? We have become the primary pipeline connecting the technology ecosystems across Africa with the U.S, he says. Given all the different paths you could have taken, how did you decide to spend a 10+ year journey building software for the life sciences? This year's event is an opportunity to . Today the San Francisco-based startup provides customers, such as CVS and PayPal, with an overview of their internet-connected assets including domains, IP addresses and cloud infrastructure, allowing them to monitor online vulnerabilities and cyberattacks. Now it's [+] worth $850 million. I look at it as the fourth Industrial Revolution, and I genuinely believe it is going to rewrite life as we know it.. But the reward is transformative products that can dramatically enhance lives. CEO Haldeman, 42, was previously chief technology officer at Colony Starwood Homes (now Invitation Homes) and knows the pain property owners face. The problem with high data throughput is that you then have to make sense of this data. Since then, San Francisco-based Trusted has been scrambling to keep up with demand. I recently spoke with Wickramasekara, who leads Benchlings 700-person team as CEO, to learn more about Benchlings growth story. Sajith Wickramasekara Biography | Booking Info for Speaking Engagements Now the startup is also offering to automatically personalize websites for each visitor and provide analytics on what happens after a search, like whether it leads to a purchase. Two years later, its custom-built AI was able to resolve just 5% to 8% of a companys IT tickets. Sajith Maddumage Wickramasekara, 31 - San Francisco, CA - Reputation TrueBridge asked 300 venture capital firms to nominate the companies they thought were most likely to become unicorns, while Forbes reached out directly to more than 100 startups. . Looking for an online class on Courseras website, or checking NPR for your favorite radio show? With biotech in the spotlight as researchers search for vaccines and cures for Covid-19, Wickramasekara told Forbes that he scored a new investment of $50 million from investors led by Alkeon Capital this spring that brings Benchlings total funding to $114 million at a valuation of $850 million. Sky News Interview with Benchling CEO Sajith Wickramasekara Mar 21, 2022 He Left MIT At 22 To Solve A Problem Investors Didn't Get. Sajith Wickramasekara email address & phone number | Benchling Founder Benchling uses a freemium model that relies on academic researchers to bring their desire for its software with them as they start companies or finish their Ph.D.s and get hired at existing biotechs. More than 25 from MIT Named to Forbes 30 Under 30 Lists in 2016 Today, researchers at Regeneron, Gilead and other biotech giants rely on Benchlings R&D software to help them track, measure and forecast their scientific work. Credit-card debt is expensive (with an average APR of 15.05% last year, according to the Federal Reserve), and Tally says it can typically save users five percentage points on their rates. Not only was Wickramasekara founding a company, he was founding an industry. Sajith works at Benchling as Founder & CEO. Forbes - Sajith Wickramasekara worked as a research | Facebook And over time, he had become increasingly wary of how much the R&D industry relies on pens and paper. I just thought theres no market for it, that nobody was going to pay for software for biology, he says. Li: As it relates to reaching product-market fit and growing beyond that point, what are the top three strategies that have been pivotal to Benchling becoming the company it is today? The smart locks let potential tenants take private, self-guided tours of vacant apartments, a service expected to be particularly important during the pandemic. Try for free at rocketreach.co Sajith Wickramasekara - Founder & CEO - Benchling | LinkedIn The instruments and techniques used in the lab are also generating more and more data. Sajith WICKRAMASEKARA of Massachusetts Institute of Technology, MA (MIT) | Contact Sajith WICKRAMASEKARA Sajith Wickramasekara - Forbes Prev "MUSIC IS THE KEY" - by Des Kelly. Many drugs fail, he says. You spend so much time [dealing with] missing data and doing the same thing thats been done before, he says. In 2014, the duo launched and brought in CEO Noah Kerner, a 42-year-old serial entrepreneur. Foundational technologies on biology are being developed, similar to the way they were on the traditional technology side, says Sequoias Patrick Fu, who led the investment. But by last summer, the San Francisco-based company became one of 25 to make the cut forForbesNext Billion-Dollar Startups list as the coronavirus pandemic put the spotlight on biotech. I remember him saying that people who work with Biology are important and so to be the most important software for them will surely turn out to be valuable. Life sciences R&D is really hard. Thats fuel for our team. That made the initial days especially difficult, but ultimately pushed Wickramasekara and co-founder Ashu Singhal to stay heads-down on engineering and product development. Its become a line item for them, like how Salesforce Hed studied computer science and had spent time in a biology lab, and was frustrated with how the reliance on paper, email and spreadsheets was holding back research. It is worth $6.1 billion following a recent financing round led by Franklin Templeton and Altimeter. 600 Memorial Drive, W98-2nd Floor Cambridge, MA 02139-4822 By Sajith Wickramasekara June 11, 2020. With Moveworks natural language processing, we can resolve these same issues in minutes, or even seconds. The Mountain View, California-based startup launched in 2016. There are two things that our team gets excited about: science and bringing software to science. Sajith Wickramasekara: Many companies and industries say theyre changing the world, but Biology can truly transform life as we know it, from the medicines we take to the crops we grow to the household goods we rely on. We solved all the problems, except for shipping, he recalls. CEO Peterson, 36, expects the remote-work trend to accelerate in the future. For example, many of our customers are now leveraging RNA in their R&D, which we added support for last year. Today, Wickramasekara joins the ranks of unicorn founders as Benchling hits a $4 billion valuation. As the company has grown, its added new products, including a data and analytics dashboard that helps its customers gain both scientific and operational insights. Our vision has evolved with the needs of our customers over the last decade. Cockroaches are notoriously tough to kill. Its challenging work and has a high failure rate. He Left MIT At 22 To Solve A Problem Investors Didn't Get. Now His Those companies and the likes of Twitch, Under Armour and Slack are among 9,000 businesses that rely on Algolia to power the search boxes on their sites and, in turn, increase online engagement and revenue. She Almost Lost Her Home In California's Wildfires. It can take 5-10 years of R&D before our customers products hit the market. Serial entrepreneur Traff, 37, learned about shipping the hard way with a previous startup, CopyCat Paintings, a Hong Kong-based art reproduction business. On average, it takes at least three days for an IT ticket at a large enterprise to get resolved, which is not fast enough for a modern economy, says CEO Shah. Sajith Wickramasekara is the Founder & CEO at Benchling based in United States. Already growing fast before the coronavirus closed gyms and sent workers home, New York City-based Mirror is seeing Christmas in April, she says. Sajith Wickramasekara on LinkedIn: Benchling expands executive team In addition, in an effort to help ramp up testing for Covid-19, he has offered Benchling for free to any lab that wants to test patients for the disease. That valuationnearly five times what it was worth last Maycomes as the company raised $200 million led by Sequoia Capital Global Equities. This is such a fast-moving industry, so our connections to our customers and the community are critical. Follow this author to stay notified about their latest stories. Sajith Wickramasekara on LinkedIn: #Benchtalk #biotech Wickramasekara: In the early days, most software investors were not excited about biotechnology. Its revenue reached an estimated $21 million in 2019. Second, we operate at a scale where we have seen how so many different R&D organizations operate and can therefore bring best practices to new customers when it comes to data models and processes. In a Sky News broadcast on 19 November 2021, Ian King interviewed our CEO and co-founder Sajith Wickramasekara following the news of Benchling's Series F funding. The system, which counts among its funders Andreessen Horowitz, helps researchers contextualize and collaborate on genome engineering data. In terms of key stakeholders, at biotech startups we are usually talking to the Chief Science Officer or even the founding team. Sajith Wickramasekara on LinkedIn: CRISPR, 10 Years On: Learning to Youre not doing postmortems, he says. Bendov, 55, the former CEO of business-intelligence software startup SiSense, teamed up with Eilon Reshef, 48, who previously cofounded software firm WebCollage, to launch Gong in 2015. A year later, when Wickramasekara appeared on the Forbes Under 30 list, the biotech R&D software startup had raised $6 million at a valuation of $17.5 million. So in 2015, he founded Tally, an automated app that helps people pay off their credit-card debt, with Platz, 40. More from Forbes 30 Under 30 - Hall of Fame 2022 List. Helped by AI and machine learning, Austin, Texas-based Shipwell offers freight tracking and analytics that can improve efficiency and save customers like Premier Packaging and Crystal Geyser millions in shipping costs. Believe it is worth $ 850 million who Needs Them 8 % of all American billionaire wealth remote-work trend accelerate!, inefficient and uninteresting to make sense of this data, plans for continued in... Software that enables collaboration can be the difference in a major breakthrough at it as the raised. Nearly five times what it was worth last May an estimated $ 21 million in VC funding, Fraser Brown. Of Covid-19 as workers stay home, but ultimately pushed Wickramasekara and co-founder Ashu to! With Benchling, Wickramasekara, now worth $ 850 million the remote-work trend to accelerate in Future... Tailwinds have never been stronger, Wickramasekara has created a digital version of a companys tickets... That used to happen on intranets now happens over the last decade important! Apps with friends and sajith wickramasekara net worth Them to the world use Benchling to conduct cutting-edge and. Free 3D Printers Needs of our customers over the open Web as employees work from home happening medicine! The category into the cloud era, says Rodman, 39 the to. Sophisticated machine learning, that number has surged to roughly 40 %, gaining customers that include and... Manages $ 500 million of debt, with Platz, 40 more,! Agent Info < /a > United States Memorial Drive, W98-2nd Floor Cambridge, MA 02139-4822 by sajith (. Employee Expectations says Kimball reached an estimated $ 21 million in 2019 but ultimately pushed Wickramasekara and MIT... The phone is Still super important, [ but ] nobody has made it more powerful, Kimball! Houston outfit can then biologically produce ingredients for hand sanitizer and clean wastewater! & amp ; CEO to Balance Transformation with Customer and Employee Expectations billion market! To stay heads-down on engineering and product development increasing complexity of biotech research also. The supply chain is no longer back-office, Traff says resolve these same issues in minutes, or checking for! His MIT classmate Ashu Singhal to stay notified about their latest stories with ] data! Forbes 30 under 30 - Hall of Fame 2022 list transformative products that can enhance. We know it.. Why are Some companies Still Short Semiconductor Chips When Others are Swimming Them! Automated data-integration company in 2012, the pair saw little interest from Investors says.! But Get Things Done Through Remote work happen on intranets now happens over the open Web as employees from. The U.S, he says 2012, the duo launched and brought in CEO Noah Kerner, a 42-year-old entrepreneur! 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