TLDR:
- BillionToOne, a diagnostic developer, has reached a billion-dollar valuation with a $130 million funding round.
- The funding will be used to expand DNA testing businesses in prenatal screening and cancer.
Diagnostic developer BillionToOne has achieved a billion-dollar valuation after securing $130 million in venture capital funding. The Menlo Park, California-based company plans to use the proceeds to scale up its DNA testing businesses, particularly in non-invasive prenatal screening and cancer detection. The series D funding round was led by Premji Invest and included investors such as Neuberger Berman, Adam Street Partners, and Baillie Gifford, among others.
BillionToOne’s molecular diagnostics focus on identifying the impacts of small genetic alterations, which can lead to significant health conditions. For example, the company’s flagship UNITY Fetal Risk Screen test analyzes blood samples for cell-free DNA fragments to assess the risk of recessively inherited conditions like spinal muscular atrophy and cystic fibrosis without invasive procedures.
Since launching their first tests in 2020, BillionToOne has evaluated over 500,000 patients, generating $125 million in annual revenue. The company’s screening tests have also been successful in areas such as Rh incompatibility in pregnancy and guiding cancer therapy selection.
The latest funding round follows a series C round in 2022, bringing BillionToOne’s total fundraising to nearly $400 million. The company’s investors include NeoTribe Ventures, Norwest Venture Partners, Four Rivers Group, and Y Combinator.
