Life sciences software startup Benchling files for US listing

Benchling, which develops software tools for scientists and pharmaceutical research organizations, has confidentially submitted paperwork with regulators for a stock market listing in New York, according to people familiar with the matter, reports Reuters.

The San Francisco, California-based company, which was valued at $4 billion in a funding round earlier this year, is aiming to go public in early 2022 at a much higher valuation, the sources said.

Benchling is considering going public through a direct listing, although the company has not ruled out a traditional IPO (initial public offering), sources said. One of its major investors on the board, Benchmark Capital, has been a vocal advocate of direct listings.