Pendulum Therapeutics, a US-based microbiome-focused medical product developer backed by medical research and care provider Mayo Clinic, has received $54m in a series C round led by Meritech Capital.
Meritech was joined by existing investors including fellow venture capital firms Sequoia Capital, True Ventures and Khosla Ventures. Craig Sherman, a general partner at Meritech, is joining Pendulum’s board of directors in connection with the round.
Formerly known as Whole Biome before rebranding in September 2019, Pendulum provides products tailored to improve health through the microbiome: the term for the collective microbes in the human body. Its products include Glucose Control, a probiotic that manages the body’s blood sugar.
The company said it has now secured $111m since it was founded in 2013. Sequoia Capital led its $35m series B round, investing alongside fellow existing backers Mayo Clinic’s Mayo Foundation, True Ventures, Khosla Ventures and AME Cloud Ventures in May 2019.
The new funding will support an increase in the production of Glucose Control in addition to further developing a pipeline of products aimed at managing chronic diseases and conducting more research on the microbiome.
Image courtesy of Pendulum Therapeutics.
