BillionToOne, a next-generation molecular diagnostics company, announced that it has raised $130 million in an oversubscribed and upsized Series D round. This funding was led by Premji Invest, with significant participation by another incoming investor Neuberger Berman along with existing investors, including Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital, and Fifty Years.
This funding will be used for expanding and scaling BillionToOne’s prenatal and oncology businesses. And BillionToOne’s technology Quantitative Counting Templates (QCTs), enables counting DNA molecules with single base-pair precision, and it has enabled the company to develop truly differentiated tests that redefine the possibilities of molecular diagnostics. Over 500K patients have received BillionToOne tests to date, and BillionToOne has grown from $0 to $125 million ARR in the last approximate four years.
UNITY Fetal Risk Screen is the first and only prenatal test of its kind. And the test utilizes fetal cell-free DNA to provide direct insights into fetal risk for aneuploidies and common recessively inherited conditions, like sickle cell disease, spinal muscular atrophy, and cystic fibrosis, without requiring a blood sample from the male partner or amniocentesis.
BillionToOne’s complementary oncology liquid biopsy products Northstar Select and Northstar Response enable clinicians to select the right therapies and monitor patients’ responses to therapies, particularly in late-stage cancer patients. And Northstar Select achieves a 2-5x lower limit of detection compared to other assays on the market, and Northstar Response is a methylation-based ctDNA assay with 10 times more precision than SNV-based assays, validated across different cancer types to assess the treatment response in late-stage cancer patients.
With the latest funding round, BillionToOne’s total capital raised to date totals nearly $400 million. This round adds to an impressive list of existing investors, including NeoTribe Ventures, Norwest Venture Partners, Four Rivers Group, and Y Combinator.
KEY QUOTE:
“At Premji Invest, we aim to partner with exceptional teams, solving difficult problems while building enduring businesses. We are thrilled to be a part of BillionToOne’s journey to create an industry-leading molecular diagnostics platform. BillionToOne has made great progress in transforming the prenatal segment over the last few years, and after seeing the initial growth and potential of their liquid biopsy products, we are excited by the platform’s potential in expanding the diagnostics options available to clinicians in other specialties.”
- Akshay Rai, who has led the Series D funding round and is joining BillionToOne’s Board of Directors
