SINGAPORE and LONDON, Nov. 21, 2016 /PRNewswire/ -- PatSnap, a technology solution provider of innovation intelligence to Fortune 500 R&D teams, today announced it has closed its Series C funding. The round was led by Sequoia Capital and participated by Shunwei Capital and Qualgro. This funding round puts PatSnap amongst an elite group of B2B SaaS companies to close their Series C round this year. The strength of PatSnap's intelligence platform lies in its ability to comprehend the entire R&D life cycle of a technology company's intangible assets - from idea generation and research, through product development and commercialization. For many of PatSnap's customers, their intangible assets, including intellectual property, could account for up to 80% of the company's value. However, prior to using PatSnap, these companies did not have a strategy to make sense of these assets. With advanced deep learning capabilities applied across globally dispersed datasets such as patent and trademark registrations, PatSnap customers can reach actionable insights without prior knowledge of complex IP data structures, unlocking innovation opportunities faster than ever. Founded by CEO Jeffrey Tiong, the company spent several years building early versions of the PatSnap platform within an accelerator program at the National University of Singapore. PatSnap now has offices in London, China and Singapore, operating in 40 industries and serving over 3,000 customers worldwide, including NASA, Vodafone, L'Oreal and the Massachusetts Institute of Technology. PatSnap has earlier raised a Series A of US$3.6 million in 2014 and a Series B of US$11 million in 2015.