Converge Bio, an AI platform accelerating drug discovery and development, announced $25 million in Series A funding, bringing total capital raised to $30 million. The round was led by Bessemer Venture Partners, with participation from TLV Partners, Vintage Investment Partners, Saras Capital, and executives from Meta, OpenAI, and Wiz. Over a dozen pharmaceutical and biotech companies currently use Converge’s solutions for target discovery, antibody design, and protein manufacturing optimization.
The AI drug discovery sector has gained momentum following Google's AlphaFold developers winning the Nobel Prize in Chemistry, with major investments and partnerships like Eli Lilly and Nvidia’s AI supercomputer project. Despite this progress, a gap remains between AI’s promise and practical use in drug development. “The conversation needs to shift from models to AI systems,” said Dov Gertz, CEO and co-founder of Converge Bio. “Unlike ChatGPT, you can’t simply prompt a model and get useful results. There’s a long road from a model that performs well on benchmarks to an AI system a biologist can actually use. It requires high-quality data, the right architectures for the domain, and a tight experimental validation loop.”
Converge’s platform integrates multiple proprietary models into an end-to-end system that fits into existing workflows, enabling biologists to generate actionable results like novel drug targets, optimized antibodies, and protein sequences for improved yield — without coding or infrastructure setup. Models are experimentally validated and trained on large-scale datasets from high-throughput screening and curated public data. Clients can also fine-tune models with their own proprietary data while maintaining full ownership.
The technology delivers results across oncology, neurodegenerative, and autoimmune diseases. In the past year, Converge completed over 40 programs, helping partners discover antibodies with single-digit nanomolar affinities, improve protein yields by 4 to 7 times, and identify molecular biomarkers to optimize patient response.
“The AI drug discovery revolution is here,” said Gertz. “Our goal is simple: make every biotech and pharma company an AI company. We make it easy for scientists to identify where AI can deliver real results for them today, and provide them with our validated tools to get there.”
“Converge has something rare in this space: real commercial traction and strong scientific results,” said Andrew Hedin, Partner at Bessemer Venture Partners. “The team has built validated solutions that are already delivering results for paying customers. As one of the most results-driven players in the field, we believe Converge is well positioned to be the de facto generative AI lab for the life sciences industry.”