23andMe confirms $250 million turn led by Sequoia


Genetics contrast association 23andMe has rigourously announced that Sequoia Capital is heading an investment turn in a company. This confirms a news we pennyless final week. 

The press recover says that a final volume was $250 million and that Sequoia’s Roelof Botha will be holding a house seat. Others participating in a turn embody new investors Euclidean Capital, Altimeter Capital and a Wallenberg Foundation. Existing investors also joined, including Fidelity Management and Casdin Capital. 23andMe has lifted $491 million to date.

The association did not endorse valuation, though we’ve reported that it was $1.5 billion pre-money, definition before a appropriation gets combined in. The reliable $250 million should move a sum gratefulness to about $1.75 billion.

The proclamation says a collateral will be used to “accelerate patron growth, continue appropriation a expanding therapeutics group, and deposit in a crowdsourced genetic investigate platform.”

23andMe was founded in 2006 and has given assured “millions of customers” to compensate for a genetics testing. Users send in a spit pack and afterwards a association sends behind information associated to stock and health.

There are others in a space doing stock and health contrast including Ancestry.com and Color Genomics.

23andMe has also grown a strong investigate business. Customers can opt-in to attend in several studies, where they demeanour for a DNA couple for all trimming from cancer to schizophrenia.

“We have usually begun to blemish a aspect in direct-to-consumer genetics,” pronounced Anne Wojcicki, 23andMe CEO and co-founder, in a statement. “We will continue to fire a route for a business and lead a attention we’ve built.”

 

Featured Image: Brad Barket / Stringer/Getty Images

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Posted by on Sep 12 2017. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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