# TriNetX funding: rounds and investors

> TriNetX has raised $240M across 2 rounds since 2019. Investors include Deerfield, ITOCHU Technology Ventures and Merck Global Health Innovation Fund.

Source: https://millionrounds.com/company/trinetx (Millionrounds; every figure on the page links to its filing or article)

United States · [Venture startup](https://millionrounds.com/companies)

# Who invested in *TriNetX*

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Big Data & Analytics Biotech Healthcare

Raised 7 months ago

Funding summary Updated 26 Oct 2026

**$240M** raised across 2 rounds since 2019, from 2 sources

**$40M** Series D **$200M** Venture

- **Latest round:** Venture, $200M Apr 2026
- **Step-up i:** 5×
- **Investors:** 3

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2019 2020 2021 2022 2023 2024 2025 2026

**$40M** Series D

**$200M** Venture

- **First round:** Series D, $40M
- **Biggest round:** $200M
- **Between rounds:** 7.1 years

## The rounds

- **Apr 2026** Venture **$200M** *2 returning* [Deerfield](https://millionrounds.com/fund/deerfield) [ITOCHU Technology Ventures](https://millionrounds.com/fund/itochu-technology-ventures) Source recorded
- **Mar 2019** Series D **$40M** *3 new* [Deerfield](https://millionrounds.com/fund/deerfield) [ITOCHU Technology Ventures](https://millionrounds.com/fund/itochu-technology-ventures) [Merck Global Health Innovation Fund](https://millionrounds.com/fund/merck-global-health-innovation-fund) Reported by Xconomy

## Founders and team

From TriNetX's own website: 7 on the team.

- **August Calhoun** Chief Executive Officer
- **Jennifer Eagan** Vice President of People
- **Elizabeth Schwert** Chief Strategy Officer
- **Jeffrey Brown** Chief Scientific Officer
- **Linda Fenton** Interim Chief Financial Officer
- **Steve Kundrot** Chief Operating Officer
- **Andrew Kopelman** General Counsel

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Series D** 2019 **Venture** 2026 [Deerfield](https://millionrounds.com/fund/deerfield) [ITOCHU Technology Ventures](https://millionrounds.com/fund/itochu-technology-ventures) [Merck Global Health Innovation Fund](https://millionrounds.com/fund/merck-global-health-innovation-fund)

## Everyone who backed them

[Deerfield](https://millionrounds.com/fund/deerfield) VC firm **2** rounds

[ITOCHU Technology Ventures](https://millionrounds.com/fund/itochu-technology-ventures) VC firm **2** rounds

[Merck Global Health Innovation Fund](https://millionrounds.com/fund/merck-global-health-innovation-fund) Corporate VC **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=trinetx).

## Quick answers about TriNetX

### Who invested in TriNetX?

TriNetX's investors include Deerfield, ITOCHU Technology Ventures and Merck Global Health Innovation Fund.

### How much has TriNetX raised?

TriNetX has raised $240M across 2 rounds since 2019.

### When did TriNetX last raise?

TriNetX's most recent round was a Venture of $200M in Apr 2026.

### What was TriNetX's biggest round?

Its most recent round, $200M in Apr 2026, is also its largest on record.

### Who backed TriNetX first?

TriNetX's first round on record, in Mar 2019, was backed by Deerfield, ITOCHU Technology Ventures and Merck Global Health Innovation Fund.

### What stage is TriNetX at?

TriNetX's latest named round is a Venture, in Apr 2026.

### Where is TriNetX based?

TriNetX is based in the United States.

## Companies like TriNetX

In the same sector, and raised in the last eighteen months.

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