BillionToOne raises $130 million in Round D funding

BillionToOnea Menlo Park, California-based precision diagnostics company, has raised $130 million in Series D funding, valuing it at over $1 billion.

The round was led by Premji Invest, with participation from another new investor, Neuberger Berman, as well as existing investors including Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital and Fifty Years. Akshay Rai, who led the Series D round, joins BillionToOne’s board of directors.

The company intends to use the funds to expand and scale its prenatal and oncology business.

BillionToOne is a precision diagnostics company whose patented molecular counting platform, Quantitative Counting Technology™ (QCT™), is a multiplexed technology capable of counting 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 patient response to therapies, especially in late-stage cancer patients. Northstar Select® achieves a 2-5x lower limit of detection than other tests on the market, and Northstar Response® is a methylation-based ctDNA test with 10x higher precision than SNV-based tests that has been validated across multiple cancer types to assess treatment response in late-stage cancer patients.

To date, over 500,000 patients have received BillionToOne tests and the company has grown from $0 million to $125 million ARR over the last approximately four years.

FinSMEs

22.06.2024