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In an age where artificial intelligence intersects deeply with intellectual property and R&D, PatSnap is carving out a compelling niche. Based in Singapore, PatSnap offers an AI-powered innovation intelligence platform that aids organizations in extracting insights from patents, scientific literature, and other technical data to fuel better decision-making.
In 2025, PatSnap has taken a bold step by launching PatentBench, an AI benchmarking tool designed to evaluate novelty search performance among AI models—moving the industry toward more measurable, transparent standards.
As more companies strive to innovate faster in global markets, PatSnap’s platform becomes positioned at the intersection of AI, IP, and competitive advantage.
PatSnap was co-founded by Jeffrey Tiong (CEO) and others; its mission is to “empower innovators to make the world a better place” by connecting patent, technical, and business data into a unified intelligence layer.
Unlike generic AI tools, PatSnap emphasizes domain specialization: its AI agents are trained for patent/legal/technical contexts. In June 2025, PatSnap launched its first suite of AI Agents, built natively into their Eureka platform, tailored for tasks like prior art search, patent landscaping, and competitive analysis.
This specialization reduces hallucination risks and improves relevance—key differentiators in the high-stakes world of IP and innovation management.
PatSnap’s competitive strength lies in its extensive data assets. It supports over 140 data types across patent, biochemical, and innovation data domains, available via APIs and datafeeds.
Its patent dataset covers 178 million patent records from 170 patent offices, with legal status, expiration, licensing, and transfer metadata.
On the AI side, in January 2024 the company launched CoPilot, an AI assistant that helps users query patents & non-patent literature, provide summaries, and answer technical questions with reference links.
These capabilities allow users—R&D teams, IP professionals, higher education institutions—to work faster and with more confidence.
PatSnap serves a broad swath of clients: corporates, research institutions, universities, and innovation divisions. Its clientele includes top-tier firms across sectors like life sciences, materials, semiconductors, and consumer electronics.
In Asia, PatSnap is leveraging rising R&D investment: according to Asia IP, the company’s co-founder and APAC general manager says AI is “lowering the barrier to entry” in patent analytics across regions.
Additionally, PatSnap has been expanding its presence in Japan: they have acquired over 150 corporate clients there and report Japan as one of their fastest growing markets.
PatSnap has historically raised significant capital (e.g. its Series E round in 2021 raised USD 300 million) to support expansion and product development.
Revenue streams include subscription licensing, premium AI tools, data access (APIs), and enterprise customization.
In 2024, PatSnap claimed surpassing US$100 million in Annual Recurring Revenue (ARR), reflecting strong adoption in its core markets.
In 2025, PatSnap made several pivotal moves that underscore its role as a frontrunner in AI-driven innovation intelligence. The company introduced PatentBench, the industry’s first benchmarking tool for evaluating AI performance in patent novelty searches, setting a new standard for transparency and accountability in the field. This launch was followed by the release of its AI Agents, integrated directly into the Eureka platform, which empower R&D and IP teams to conduct tasks like prior art search and competitive analysis with greater efficiency.
Beyond product innovation, PatSnap expanded its data ecosystem by fully opening 140 data products to developers and enterprise users, thereby broadening its reach into adjacent markets such as biotech and advanced materials. At the same time, the company deepened its footprint in Japan, one of its fastest-growing markets, acquiring more than 150 corporate clients and reinforcing its ambition to become the go-to provider for innovation intelligence in Asia. These milestones highlight how PatSnap is simultaneously scaling technology, expanding geographically, and strengthening its competitive positioning.
Despite its impressive progress, PatSnap faces several challenges that could shape its trajectory. One of the most pressing issues is data consistency and quality, since patent systems vary widely by jurisdiction, and ensuring accurate, legally valid insights across markets remains complex. Equally significant is the risk of AI hallucination: in high-stakes domains like intellectual property, even minor inaccuracies can have serious legal and financial consequences, making reliability a constant priority.
Competition is another factor to watch, as established incumbents such as Clarivate and Thomson Reuters are enhancing their offerings while new AI-driven entrants are emerging across the innovation intelligence space. Finally, regulatory shifts pose a structural risk; changes in patent law or new AI governance frameworks in key regions could directly impact how PatSnap delivers its services. These risks underscore the delicate balance the company must maintain as it scales—leveraging the power of AI while ensuring credibility, compliance, and trust in a domain where precision is paramount.
PatSnap’s trajectory offers a compelling template for how AI and domain depth can merge to create defensible B2B platforms in deep tech. By anchoring itself in the traditionally conservative domain of IP and R&D, it is pushing boundaries on how intelligence, analytics, and automation can empower innovation globally.
If PatSnap continues scaling responsibly—extending into new verticals, maintaining data integrity, and balancing AI autonomy with oversight—it may become a foundational infrastructure player in the future of global innovation.
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