TLDR:
- BillionToOne, a precision diagnostics company, raised $130M in Series D funding at over a $1B valuation.
- The funding round was led by Premji Invest and included participation from Neuberger Berman and other existing investors.
BillionToOne, a Menlo Park, CA-based precision diagnostics company, has successfully raised $130M in Series D funding, achieving a valuation of over $1B. The funding round was led by Premji Invest, with another incoming investor, Neuberger Berman, as well as existing investors such as Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital, and Fifty Years also participating. Akshay Rai, who led the Series D round, will be joining BillionToOne’s Board of Directors.
The company plans to use the funds to further expand and scale its prenatal and oncology businesses. BillionToOne is known for its patented Quantitative Counting Technology™ (QCT™) platform, which is a multiplex technology capable of counting DNA molecules at the single-molecule level. The company’s oncology liquid biopsy products, Northstar Select® and Northstar Response®, are designed to assist clinicians in selecting appropriate therapies and monitoring patient responses, especially in late-stage cancer patients.
Northstar Select® offers a lower limit of detection 2-5 times lower than other assays on the market, while Northstar Response® is a methylation-based ctDNA assay known for its 10x precision compared to SNV-based assays, validated across various cancer types to evaluate treatment responses in late-stage cancer patients. With over 500,000 patients having received BillionToOne tests to date, the company has experienced significant growth, going from $0M to $125M in ARR in approximately four years.
