BillionToOne's Precision Diagnostics Revolution
June 22, 2024, 9:31 pm
Location: United States, California, Menlo Park
Employees: 51-200
Founded date: 2016
Total raised: $388.5M
In a groundbreaking move that has sent shockwaves through the precision diagnostics industry, BillionToOne, a Menlo Park-based company, recently announced the successful completion of a Series D funding round, raising an impressive $130 million. This significant achievement has catapulted the company's valuation to over $1 billion, firmly establishing BillionToOne as a major player in the field.
Led by Premji Invest, a prominent investment firm, and supported by the entry of Neuberger Berman as a new investor, this funding round has garnered widespread attention and acclaim. Existing investors, including Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital, and Fifty Years, also participated in the round, underscoring the confidence and support in BillionToOne's vision and capabilities.
At the helm of this momentous occasion is Akshay Rai, who spearheaded the Series D round and is set to join BillionToOne's esteemed Board of Directors. With a clear focus on expanding and scaling its prenatal and oncology businesses, BillionToOne is poised to leverage this influx of capital to drive innovation, enhance its offerings, and reach new heights of success.
Central to BillionToOne's success is its patented Quantitative Counting Technology™ (QCT™) molecular counting platform, a cutting-edge technology that enables the precise counting of DNA molecules at the single-molecule level. This revolutionary platform empowers clinicians to make informed decisions, select the most effective therapies, and closely monitor patient responses with unparalleled accuracy and precision.
Of particular note are BillionToOne's complementary oncology liquid biopsy products, Northstar Select® and Northstar Response®, which have garnered widespread acclaim for their ability to revolutionize cancer treatment. Northstar Select® boasts a 2-5x lower limit of detection compared to other assays on the market, while Northstar Response® is a methylation-based ctDNA assay that offers 10x precision compared to SNV-based assays. These products have been validated across various cancer types, offering hope and improved outcomes for late-stage cancer patients.
With over 500,000 patients having already benefited from BillionToOne's tests, the company's impact and reach continue to grow exponentially. In just under four years, BillionToOne has achieved remarkable growth, soaring from $0 million to $125 million in annual recurring revenue, a testament to its unwavering commitment to excellence and innovation.
Looking ahead, BillionToOne is setting its sights on a potential IPO in the latter half of 2025, a move that could further solidify its position as a leader in the precision diagnostics space. As the company prepares for this next chapter, it remains focused on delivering cutting-edge solutions, advancing medical science, and transforming the landscape of healthcare for the better.
In a competitive and rapidly evolving market, BillionToOne's value proposition lies in its single molecule sensitivity technology, which has the potential to detect a wide range of conditions with unprecedented accuracy. By leveraging this technology, BillionToOne is paving the way for a new era of diagnostics, one that holds the promise of improved outcomes, enhanced patient care, and a brighter future for all.
Led by Premji Invest, a prominent investment firm, and supported by the entry of Neuberger Berman as a new investor, this funding round has garnered widespread attention and acclaim. Existing investors, including Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital, and Fifty Years, also participated in the round, underscoring the confidence and support in BillionToOne's vision and capabilities.
At the helm of this momentous occasion is Akshay Rai, who spearheaded the Series D round and is set to join BillionToOne's esteemed Board of Directors. With a clear focus on expanding and scaling its prenatal and oncology businesses, BillionToOne is poised to leverage this influx of capital to drive innovation, enhance its offerings, and reach new heights of success.
Central to BillionToOne's success is its patented Quantitative Counting Technology™ (QCT™) molecular counting platform, a cutting-edge technology that enables the precise counting of DNA molecules at the single-molecule level. This revolutionary platform empowers clinicians to make informed decisions, select the most effective therapies, and closely monitor patient responses with unparalleled accuracy and precision.
Of particular note are BillionToOne's complementary oncology liquid biopsy products, Northstar Select® and Northstar Response®, which have garnered widespread acclaim for their ability to revolutionize cancer treatment. Northstar Select® boasts a 2-5x lower limit of detection compared to other assays on the market, while Northstar Response® is a methylation-based ctDNA assay that offers 10x precision compared to SNV-based assays. These products have been validated across various cancer types, offering hope and improved outcomes for late-stage cancer patients.
With over 500,000 patients having already benefited from BillionToOne's tests, the company's impact and reach continue to grow exponentially. In just under four years, BillionToOne has achieved remarkable growth, soaring from $0 million to $125 million in annual recurring revenue, a testament to its unwavering commitment to excellence and innovation.
Looking ahead, BillionToOne is setting its sights on a potential IPO in the latter half of 2025, a move that could further solidify its position as a leader in the precision diagnostics space. As the company prepares for this next chapter, it remains focused on delivering cutting-edge solutions, advancing medical science, and transforming the landscape of healthcare for the better.
In a competitive and rapidly evolving market, BillionToOne's value proposition lies in its single molecule sensitivity technology, which has the potential to detect a wide range of conditions with unprecedented accuracy. By leveraging this technology, BillionToOne is paving the way for a new era of diagnostics, one that holds the promise of improved outcomes, enhanced patient care, and a brighter future for all.