Faro AI Announces $37.3 Million Series B

Gunderson Dettmer represented Faro AI in its $37.3 million Series B financing. The round was co-led by Merck Global Health Innovation Fund and S32, with participation from all existing investors, including General Catalyst, Northpond Ventures, Polaris Partners, PTX Capital, and Zetta, and new investors, including Ankona Capital.

Used by six of the world’s ten largest pharmaceutical companies, Faro provides the structured data and AI infrastructure for modern clinical development. Its proprietary ontology and data models translate complex scientific, medical, regulatory, and operational concepts into structured intent that software and AI agents can reason over and act upon. The financing will fund Faro’s next stage of growth as pharmaceutical and biotechnology companies increasingly look to AI agents to automate complex workflows across clinical development. 

“This financing gives us the resources to accelerate what our customers are already asking us to do,” said Scott Chetham, co-founder and CEO of Faro, in the announcement of the transaction. “Clinical development involves some of the most complex and interconnected workflows in biopharma. Our customers want to use AI agents not simply to generate content, but to understand development intent, reason across these processes, and automate more of the work required to move a program forward. Faro’s ontology and data models give those agents the foundation they need to do that reliably.” 

The Gunderson deal team was led by Ryan Gunderson and included Jordan Murray, Nikta Daijavad, and Jack Weykamp.