Converge Bio, an AI drug discovery company with offices in Boston and Tel Aviv, raised a $25m Series A, announced on 13 January 2026. Bessemer Venture Partners led the oversubscribed round, according to TechCrunch and the company's release on PR Newswire. TLV Partners, Vintage Investment Partners and Saras Capital also took part, along with unnamed executives at Meta, OpenAI and Wiz.
The round brings total funding to $30m. No valuation was disclosed. CTech by Calcalist reported that the money will be used to expand the platform, scale the team and deepen partnerships with pharma and biotech companies.
“Our customers don't have to piece models together themselves.”Dov Gertz, CEO and Co-Founder, Converge Bio
What Converge Bio does
Converge sells AI models and systems to biotech and pharmaceutical companies for target discovery, antibody design and optimising protein manufacturing. Dov Gertz, chief executive and co-founder, said the conversation needs to shift from models to AI systems.
On antibody design, Gertz told TechCrunch: "Our customers don't have to piece models together themselves." He also said that validating a novel compound can take weeks, so the cost of an AI model's errors is higher in molecules than in text, and that the company filters generated molecules to reduce that risk, though not perfectly.
CTech by Calcalist described Converge as Israeli-founded. It reported that Gertz developed a machine-learning method for discovering novel CRISPR systems, that chief scientific officer Iddo Weiner has led two drug programmes to successful Phase 2 clinical readouts, and that chief technology officer Oded Kalev is a former cybersecurity AI lead who has advised US government agencies on large-scale generative AI applications.
Customers and traction
According to the release, Converge has completed more than 40 programmes with pharma and biotech companies in the past year and counts more than a dozen of them as customers. TechCrunch reported that it works across the US, Canada, Europe and Israel and is expanding into Asia.
The announcement came about 18 months after the company was founded in 2024. Its goal, in Gertz's words, is to make every biotech and pharma company an AI company.
CTech reported outcomes including antibodies with single-digit nanomolar binding affinities and 4 to 7 times gains in protein manufacturing yields. These are company-reported results. Gertz told CTech that making this work "requires high-quality data, the right architectures, and a tight experimental validation loop."
The funding so far
Converge raised a $5.5m seed round in 2024, TechCrunch reported, roughly a year and a half before this Series A. The seed figure fits the $30m total reported in the release.
Andrew Hedin, a partner at Bessemer, said Converge has something rare in this space: real commercial traction and strong scientific results.
The sources differ on the size of the team. The release put it at about 40 people, while TechCrunch reported 34 employees, up from nine in November 2024, so no headcount is given here.
CTech reported that the new money will go to expanding platform capabilities, scaling the team and deepening partnerships with pharma and biotech companies, a use of funds that the release itself did not spell out.
Who invested
Bessemer is the lead. The other named institutions are TLV Partners, an Israeli venture firm, Vintage Investment Partners and Saras Capital. The individual backers from Meta, OpenAI and Wiz were not identified by name in the reports.