Strong Revenue Growth:
ARR is estimated to have surpassed $200M by May 2024 with roughly 27% year over year growth, indicating ongoing top-line expansion. While slower than pre-2022 hypergrowth, this still reflects material scaling at enterprise revenue levels.
Market Expansion:
The company reports welcoming 240 new customers in 2024 and now powers over 1,300 biotechnology companies. This evidences continued penetration and up-market traction in life-sciences R&D.
Product Line Growth:
New modules and AI capabilities launched in 2024, including Benchling Bioprocess and analytics features, broadened the platform beyond research into development and data analysis. The PipeBio acquisition further strengthened high-throughput biologics and AI-assisted discovery.
