About Flagship Pioneering
Flagship Pioneering is a venture capital firm founded in 1999. It is primarily based out of Cambridge, United States. As of Apr 2026, Flagship Pioneering has invested in 148 companies. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to Enterprise Applications and High Tech. Most recently it participated in the $***** Series B round of Harbinger Health Overall, Flagship Pioneering portfolio has seen 3 unicorns, 25 IPOs and 50 acquisitions including key companies like Indigo, ZoomInfo and Sana Biotechnology. A lot of funds co-invest with Flagship Pioneering, with names like Polaris Partners sharing a substantial percentage of its portfolio. Flagship Pioneering has team of 288 people including 140 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 6 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Flagship Pioneering's List of Top Investments
Flagship Pioneering has a portfolio of 148 companies, including 3 unicorns. Their most notable investments are in SiCortex and Ellacoya Networks.Their portfolio spans across United States, Philippines and United Kingdom. They have invested in Life Sciences, Enterprise Applications, High Tech and 22 other sectors, across stages such as Series A, Series B and 6 more. Here is the list of top investments by Flagship Pioneering:
1. Indigo
Provider of biological and sustainability solutions for the agriculture industry. The company offers biological products that harness the plant microbiome to protect crops. It also provides sustainability programs that help scale sustainable practices. These solutions aim to reduce emissions, conserve water, and improve farm profitability.
Key facts about Indigo
- Founded Year: 2013
- Location: Boston (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $1.4B
- Employee Count: 1,394 as on May 31, 2026
- Investors: InvestX, Toba Capital and 26 Others
- Latest Funding Round: Series G, Sep 15, 2023, $*****
- Highlight: Editors' Pick
2. ZoomInfo
Contact database platform for businesses. It is a SaaS-based sales conversation intelligence solution. It provides a multi-channel operating system and sales conversation solutions to help the sales team connect with the right prospects by analyzing customer calls, meetings, and emails.
Key facts about ZoomInfo
- Founded Year: 2000
- Location: Vancouver (United States)
- Stage: Public
- Total Funding till date: $32M
- Employee Count: 4,163 as on Jun 30, 2026
- Investors: HTIF, Thecarlylegroup.fr and 9 Others
- Latest Funding Round: PE, 2014, $*****
- Highlight: Public
Developer of engineered cell therapies for treating various human diseases. Research focuses on repairing or controlling genes within cells and replacing damaged or missing cells to address underlying disease causes. Drug candidates target conditions including diabetes, cancers, and autoimmune disorders. The work involves cellular biology and machine learning to create therapeutic interventions.
Key facts about Sana Biotechnology
- Founded Year: 2018
- Location: Seattle (United States)
- Stage: Public
- Total Funding till date: $821M
- Employee Count: 259 as on May 31, 2026
- Investors: HTIF, Baillie Gifford and 17 Others
- Latest Funding Round: Series D, Jun 25, 2020, $*****
- Highlight: Public
Developer of therapies to treat neurodegenerative diseases. The company's product pipeline includes a small molecule inhibitor of RIP1 kinase to treat Alzheimer's and ALS by regulating inflammatory signaling and affecting glial dysfunction in the brain. Also, provides an LRRK2 inhibitor to treat Parkinson's disease.
Key facts about Denali Therapeutics
- Founded Year: 2015
- Location: San Francisco (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $347M
- Employee Count: 576 as on May 31, 2026
- Investors: Foresite Capital, Baillie Gifford and 10 Others
- Latest Funding Round: Post IPO, Feb 27, 2024, $*****
- Highlight: Public
5. IDEXX
IDEXX Laboratories is a multinational corporation. The company engaged in the development, manufacture, and distribution of products and services for the companion animal veterinary, livestock and poultry, water testing, and dairy markets. The company has operations worldwide. In 2022, the company recorded annual revenues of $3.43B and a net profit of $0.7B.
Key facts about IDEXX
- Founded Year: 1983
- Location: Westbrook (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Employee Count: 8,310 as on Jun 30, 2026
- Investors: Venrock, Sutter Hill Ventures and 3 Others
- Latest Funding Round: Unattributed, 1984, $*****
- Highlight: Public
Flagship Pioneering's Year-on-Year Investment Trends
Flagship Pioneering has invested in 148 companies over the last 26 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 5 investments, while as of Apr 2026, it has made 1 investment in this year. Its most recent first time investment was in Terrana Biosciences and most recent follow-on round was in Harbinger Health.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 1 | 1 |
2025 | 3 | 2 | 5 |
2024 | 1 | 1 | 2 |
2023 | 3 | 4 | 7 |
2022 | 3 | 2 | 5 |
2021 | 5 | 6 | 11 |
2020 | 3 | 2 | 5 |
2019 | 0 | 0 | 0 |
2018 | 1 | 2 | 3 |
2017 | 8 | 6 | 14 |
Flagship Pioneering's Investments by Stage
Flagship Pioneering has made 49 investments in Series A stage with an average round size of $22.6M, 24 investments in Series B stage with an average round size of $63.3M and 16 investments in Series C stage with an average round size of $49.8M.Stage of entry | No. of Investments |
|---|---|
Series A | 49 |
Series B | 24 |
Series C | 16 |
Seed | 7 |
Series D | 6 |
Others | 3 |
Note: We have considered here, only first round of investments
Flagship Pioneering's Investments by Sector
Flagship Pioneering has a diverse portfolio, with companies operating in the Life Sciences, Enterprise Applications, High Tech, Sustainability Tech and HealthTech. Notably, it has invested in 111 Tech companies, 106 Enterprise (B2B) companies, 38 Software companies and at least 12 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Life Sciences | 64 |
Enterprise Applications | 23 |
High Tech | 22 |
Sustainability Tech | 15 |
HealthTech | 11 |
Others | 53 |
Note: We have considered here, only first round of investments
Flagship Pioneering's Investments by Geography
Flagship Pioneering has made most investments in United States (102), followed by Canada where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 102 |
Canada | 1 |
Philippines | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Flagship Pioneering's recent investments
Flagship Pioneering has made 1 investments in 2026 so far - Harbinger Health.Here are the most recent investments by Flagship Pioneering:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 14, 2026 | United States | Series B | 1602 | - | |
Oct 14, 2025 | United States | Series A | 5211 | [+8] | |
Jul 06, 2025 | United States | Seed | 4948 | - | |
Mar 20, 2025 | United States | Series B | 3838 | ||
Mar 06, 2025 | United States | Seed | 5874 | [+7] |
Unicorns in Flagship Pioneering's Portfolio
Flagship Pioneering has 3 unicorns in its portfolio - Lila Sciences, Inari and Indigo. The most recent unicorn in their portfolio is Lila Sciences. It became a unicorn in 2025.Here is a list of unicorns in Flagship Pioneering's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
59 | Developer of AI-powered autonomous scientific research platforms | 2023 | Cambridge | Series A | czyyfm{ | ||
64 | Developer of technology to improve crop breeding and seed production | 2016 | Cambridge | Series G | aehjlzx | ||
77 | Provider of biological and sustainability solutions for the agriculture industry | 2013 | Boston | Series G | {qslnmx |
IPOs and Publicly Listed companies in Flagship Pioneering's Portfolio
25 of Flagship Pioneering's portfolio companies have become public. Generate Biomedicines got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Feb 2026 at marketcap of $2.04B and Omega Therapeutics got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $794M.Here are Flagship Pioneering's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 27, 2026 | Sep 2020 | Series A | 5192 | |
Jul 30, 2021 | Jul 29, 2020 | Series B | 4434 | |
Feb 04, 2021 | Jun 25, 2020 | Series D | 7046 | |
Oct 23, 2020 | - | - | 6000 | |
Oct 14, 2020 | Nov 25, 2015 | Series A | 6734 |
Acquired companies in Flagship Pioneering's Portfolio
50 companies from Flagship Pioneering's portfolio have been acquired. The most recent acquisition was Exact Sciences in Mar 2026 by Abbott for $*****.Here are Flagship Pioneering's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 20, 2026 | - | - | 2657 | |
Dec 03, 2025 | May 11, 2011 | Series A | 6145 | |
Oct 01, 2024 | Jul 26, 2004 | Series A | 1260 | |
Jun 30, 2023 | Jun 21, 2017 | Series A | 4416 | |
Jan 19, 2023 | Nov 30, 2006 | Series B | 6291 |
Team profile of Flagship Pioneering
Flagship Pioneering has a team of 288 members including 140 Partners and 88 Principals located in United States, United Kingdom and 2 more locations. Flagship Pioneering's team sits on the board of 2 companies.Here is a list of top team members in Flagship Pioneering:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Boston | - | ||
Partner | - | - | ||
Partner | Boston | |||
Partner | - | - | ||
Partner | Cambridge | - | ||
Partner | Boston | - | ||
Partner | Cambridge | - | ||
Partner | Sudbury | - | ||
Partner | Cambridge | - | ||
Partner | Boston | - |
Co-investors of Flagship Pioneering
Over the past 26 years, 505 investors have co-invested in Flagship Pioneering's portfolio companies. This includes funds and angels.
- Invested before Flagship Pioneering: Goldman Sachs, HHS and 49 others have invested in rounds before Flagship Pioneering. There are 2 companies where Goldman Sachs has invested before Flagship Pioneering and 1 company where HHS has invested before Flagship Pioneering.
- Top Co-investors of Flagship Pioneering: 174 investors entered a company along with Flagship Pioneering. These include investors like Polaris Partners (15 companies).
- Invested after Flagship Pioneering: A total of 280 investors have invested in Flagship Pioneering's portfolio after their investments. Top Investors include HHS (9 companies), Fidelity Investments (6 companies) and Acks (5 companies).
Recent News related to Flagship Pioneering
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Terion Launches as Unified Digital Infrastructure Platform for Agricultureigrownews.com•Jun 19, 2026•Flagship Pioneering
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Lila Sciences closes $350M Series A for its AI-driven science visionEndpoints•Oct 14, 2025•Lila Sciences, Braidwell, NVentures, Analog Devices and 10 others
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Flagship Pioneering Launches Extuitive for AI-Powered Consumer Product InnovationPR Newswire•Sep 18, 2025•Flagship Pioneering
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TerraPower signs MoU for nuclear site exploration in UtahPower Technology•Aug 26, 2025•Flagship Pioneering, TerraPower
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