BillionToOne, a Menlo Park, CA-based precision diagnostics company, raised $130M in Series D funding at an over $1B+ valuation.
The round was led by Premji Invest, with participation by another incoming investor, Neuberger Berman, as well as by existing investors, including Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital, and Fifty Years. Akshay Rai, who has led the Series D round, is joining BillionToOne’s Board of Directors,
The company intends to use the funds to expand and scale its prenatal and oncology businesses.
BillionToOne is a precision diagnostics company whose patented Quantitative Counting Technology™ (QCT™) molecular counting platform is a multiplex technology that can count DNA molecules at the single-molecule level. Its complementary oncology liquid biopsy products, Northstar Select® and Northstar Response®, enable clinicians to select the right therapies and monitor patients’ responses to therapies, particularly in late-stage cancer patients. Northstar Select® achieves a 2-5x lower limit of detection compared to other assays on the market, and Northstar Response® is a methylation-based ctDNA assay with 10x precision than SNV-based assays, validated across different cancer types to assess the treatment response in late-stage cancer patients.
Over 500K patients have received BillionToOne tests to date, and the company has grown from $0M to $125M ARR in the last ~4 years.
FinSMEs
22/06/2024
