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The new venture capital funding will be used to increase the manufacturing and sales of Pendulum Glucose Control, ramp up the manufacturing of pipeline products to address the management of other chronic diseases, and conduct additional research, including clinical trials.
Pendulum Therapeutics (San Francisco, CA) announced a $54 million investment led by Meritech Capital with participation from existing investors including Sequoia Capital, True Ventures and Khosla Ventures, to help meeting surging consumer demand. The Series C round nearly doubles the entirety of what Pendulum has previously raised in total venture capital to $111 million. The new venture capital funding will be used to increase the manufacturing and sales of Pendulum Glucose Control, ramp up the manufacturing of pipeline products to address the management of other chronic diseases, and conduct additional research, including clinical trials.
“We think Pendulum is a next generation pharma company doing next generation gene sequencing,” said Craig Sherman Meritech general partner, in a press release. “Pendulum could be another 10x Genomics, Datadog, Snowflake or Roblox, which are Meritech investments that went public in the last two years. Pendulum feels like it could be that, because they are creating something that's truly differentiated and could truly change a person's life.”
As a lead investor, Sherman will be on the Pendulum Board of Directors alongside Roelof Botha, a partner at Sequoia, and Adam D’Augelli, a partner at True Ventures. “Craig, Roelof and I are excited about Pendulum because they are using the microbiome in an entirely new way, to create a never-before-seen product,” said D’Augelli, in a press release. “There’s a huge white space here. With many supplements, there’s no way to tell if they’re even working, while medicines are synthetic and can have side effects. At Pendulum, ingredients are sourced from the microbiome that naturally lives within our bodies, and their formulas are rigorously tested for safety and effectiveness. This new hybrid product Pendulum has created is safe, requires less capital than a drug to bring to market, and could be incredibly beneficial for millions of people.”
Pendulum’s Glucose Control product was found in a recent study to support healthy blood sugar, lowering glucose spikes and A1C levels in people with type II diabetes.
“We are grateful for our customers, as well as our investors who continue to acknowledge our ground-breaking research into the microbiome,” said Colleen Cutcliffe, PhD, cofounder and CEO of Pendulum Therapeutics, in a press release. “While our direct-to-consumer path is more nimble than our pharma peers, we will never cut corners. Pendulum is a team of accomplished scientists, and our products will always go through rigorous testing to establish efficacy. We believe consumers can – and should – demand hard-core scientific results from any company that is making claims about health benefits.”