When was Formation Bio founded?

Formation Bio was founded in 2016 and became a unicorn in 2021, reaching the milestone in 5 years. It raised its 1st funding round 1 year after its incorporation.

Where is Formation Bio located?

Formation Bio is headquartered in New York City, United States.

Who is the current CEO of Formation Bio?

Benjamine Liu of Formation Bio. They have also founded 1 company.

How many employees does Formation Bio have?

As of Jan 31, 2026, the latest employee count at Formation Bio is 190.

Is Formation Bio a funded company?

Formation Bio is a funded company, having raised a total of $608M across 4 funding rounds to date. The company's 1st funding round was raised for an undisclosed amount in a Series A round on 2017.

How much is Formation Bio worth?

The latest valuation of Formation Bio is $1B as of Jun 27, 2024.

When was the latest funding round of Formation Bio?

Formation Bio's latest funding was a $372M Series D round on May 21, 2024, with participation from 8 investors.

Is Formation Bio a Life Sciences Tech company?

The primary sectors of Formation Bio are Life Sciences Tech and Artificial Intelligence.

Where does Formation Bio rank among its competitors?

Formation Bio ranks 1st amongst 21 active competitors, of which 9 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Portrai, which secured $9.87M in Dec, 2025.

Who are the top competitors of Formation Bio?

Formation Bio's top competitors include Transcripta Bio, Arpeggio and Seragon. Among them, Portrai secured the most recent funding round in December, 2025.

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Sectors and market segments that Formation Bio operate in

Formation Bio serves in the HealthTech, Life Sciences, Native AI market segments.The primary business model of Formation Bio are:

Company Details

Provider of AI-powered drug discovery platform for various diseases. It leverages technology such as LLMs and the modern data stack in novel ways to efficiently design and operate clinical development in Atopic Dermatitis, Chronic Hand Eczema, and Knee Osteoarthritis.

Website: www.formation.bio/
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Key Metrics

Founded Year

2016

Location

New York City, United States

Stage

Series D

Total Funding

$608M in 4 rounds

Latest Funding Round

Series D, May 21, 2024, $372M

Post Money Valuation

$1B as on Jun 27, 2024

Investors

Andreessen Horowitz & 17 more

Ranked

1^st among 21 active competitors

Employee Count

190 as on Jan 31, 2026

Similar Companies

Eka Care & 2306 more

View Formation Bio's full profile

Formation Bio has raised a total funding of $608M over 4 rounds. Its first funding round was on 2017. Its latest funding round was a Series D round on May 21, 2024 for $372M. 8 investors participated in its latest round. Formation Bio has 16 institutional investors and 2 angel investors.

Here is the list of recent funding rounds of Formation Bio:

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Date of funding	Funding Amount	Round Name	Post money valuation	Revenue multiple	Lead Investors	Other Investors
May 21, 2024	$372M	Series D	$1B	-	Andreessen Horowitz	Sanofi, Sequoia Capital, Thrive Capital, Emerson Collective, Lachy Groom, SV Angel, FPV Ventures
Sep 30, 2021	$156M	Series C	-	-	-	Willett Advisors, Sequoia Capital, Thrive Capital, John Doerr, Casdin Capital, Felicis Ventures, Dragoneer Investment Group, Sound Ventures, Spark Capital, ArrowMark Partners, S32
2018	$80M	Series B	-	-	-	Thrive Capital, Sequoia Capital

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View details of Formation Bio's funding rounds and investors

The founders of Formation Bio are Benjamine Liu, Linhao Zhang and Linhao Zhang. Benjamine Liu is the CEO of Formation Bio.

Here are the details of Formation Bio's key team members:

Benjamine Liu: Co-Founder & CEO of Formation Bio.
Linhao Zhang: Co-Founder of Formation Bio.
Linhao Zhang: Co-founder; CTO of Formation Bio.

View details of Formation Bio's Founder profiles and Board Members

Formation Bio's employee count trend

Formation Bio has 190 employees as of Jan 26. Here is Formation Bio's employee count trend over the years:

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Top competitors of Formation Bio include Transcripta Bio, Arpeggio and SeragonSports. Here is the list of Top 10 competitors of Formation Bio, ranked by Tracxn score:

Overall Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Formation Bio 2016, New York City (United States), Series D	Provider of AI-powered drug discovery platform for various diseases	$608M	Dragoneer Investment Group, ArrowMark Partners & 16 others	70/100
2nd	Transcripta Bio 2020, Palo Alto (United States), Series A	AI-powered platform for drug screening and development	$1M	JAZZ Venture Partners, BlueYard	50/100
3rd	Arpeggio 2017, Boulder (United States), Series B	Provider of drug discovery platform for the treatment of cancer	$49.5M	Y Combinator, FundersClub & 15 others	47/100
4th	Seragon 2005, Irvine (United States), Series A	Provider of AI-based platform for epigenetics and transcriptomics for treating aging and physiological disorders	$30M	Aisling Capital, TCG & 3 others	40/100
5th	Serna Bio 2021, London (United Kingdom), Seed	Provider of AI-enabled drug discovery platform for various diseases	$500K	Hummingbird Ventures, Y Combinator	31/100
6th	Portrai 2021, Seoul (South Korea), Series B	Provider of spatial transcriptomics and AI to accelerate drug discovery and biomarker identification	$9.87M	STIC Ventures, DSC Investment & 7 others	31/100
7th	Ocean Genomics 2018, Pittsburgh (United States), Seed	Developer of a transcriptome analysis platform using AI	-	Accenture	30/100
8th	KaiPharm 2018, Seoul (South Korea), Funding Raised	Provider of a software solution for drug discovery	-	Kolon Investments, E&Venture Partners	27/100
9th	Yuce Biotechnology 2015, Shenzhen (China), Series B	Developer of gene detection services for precise immunotherapy of tumors	-	IDG Capital, Puhua Capital & 2 others	25/100
10th	Epicombi 2017, Oxford (United Kingdom), Seed	Provider of an epigenetic-based drug discovery platform for cancer	-	First In Ventures	25/100