Pioneering scientists’ network ResearchGate raises $20m

ResearchGate founder Ijad Madisch
ResearchGate founder Ijad Madisch

ResearchGate founder Ijad Madisch

ResearchGate – popularly dubbed the “Facebook for scientists” though in reality closer to LinkedIn – has raised an additional $20m of equity-based financing according to documents filed with the US Securities and Exchange Commission.

Details of the new $20m of funding – beyond that dollar figure – are unknown. The news was first reported by German online magazine Gründerszene via funding news feed WhoGotFunded.

Ijad Madisch (above), Sören Hofmayer and Horst Fickenscher co-founded ResearchGate in May 2008. Since then, the company has grown to about 100 employees in Berlin and Boston and about 2.6 million users with several thousand new sign-ups each day. Its existing investors include Benchmark Capital and Accel Partners, along with Founders Fund who joined in a Series B venture capital round of an unknown size in Febraury 2012.

Watch our recent video interview with Madisch below…

The primary function of the platform is to share research and connect scientists globally. Members hail from the fields of biology, general medicine, computer science, neuroscience, genetics, physics – you name it.

ResearchGate isn’t without peers of its own. London-based research and collaboration platform Mendeley – recently acquired by academic publishing group Elsevier for a reported £45m (about €52.7m) – also provides a cloud-based platform for scientists and researchers to work together.

ResearchGate’s plans for 2013 – what’s next?

According to an interview with Madisch last March, this year ResearchGate will work to grow “revenue streams aligned with the scientific community”, including via its existing jobs board and an upcoming Amazon-like marketplace for biotech products.

Image credits: via ResearchGate

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