ResearchGate, a Berlin, Germany–based professional network for scientists, announced a USD$52.6m growth investment closed in November 2015.
Backers included Wellcome Trust, Goldman Sachs Investment Partners, and Four Rivers Group, Ashton Kutcher, Groupe Arnault, Xavier Niel, and existing investors Bill Gates, Tenaya Capital, Benchmark, and Founders Fund.
The investment contributed to the launch of a new feature called Projects in March 2016 and is partially going into the effort to store and structure scientific data in ways that help scientists make progress today and in the future.
Founded in 2008 by the physicians Dr. Ijad Madisch and Dr. Sören Hofmayer along with computer specialist Horst Fickenscher, ResearchGate is a social network that currently connects 12 million researchers who have made more than 140 million connections on the network, sharing over half a million updates about their research daily.
The company recently implemented an advertising model selling scientific advertising and recruiting solutions.