Total amount raised
$1.1 Billions
Latest funding date
6/1/2021
Location
23andMe has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The company offers a range of DNA testing services that provide insights into ancestry, health, and wellness.
Keep reading to explore the intricacies of 23andMe's fundraising journey and the investors backing this innovative platform.
What Is 23andMe?
23andMe, founded on April 1, 2006, in Sunnyvale, California, is a pioneering DNA testing technology company. The company was co-founded by Anne Wojcicki, Linda Avey, and Paul Cusenza.
Specializing in genetic testing, 23andMe offers services that provide insights into ancestry, health predispositions, and inherited traits. Their products include health memberships, personalized health reports, and comprehensive ancestry analysis.
With a workforce of 501-1000 employees, 23andMe continues to innovate in the biotechnology and genetics industries, making significant strides in personal genomics.
How Much Funding Has 23andMe Raised?
- Series C
- Amount Raised: $9M
- Date: January 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their genetic testing services and enhance research capabilities.
- Series D
- Amount Raised: $50M
- Date: December 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve product offerings.
- Grant
- Amount Raised: $1.4M
- Date: July 2014
- Lead Investors: National Institutes of Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research initiatives and public health studies.
- Series E
- Amount Raised: $115M
- Date: October 2015
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand consumer reach and enhance genetic research capabilities.
- Grant
- Amount Raised: $1.7M
- Date: October 2016
- Lead Investors: National Institutes of Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research projects and public health initiatives.
- Series F
- Amount Raised: $250M
- Date: September 2017
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand product offerings.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series F
- Amount Raised: $300M
- Date: July 2018
- Lead Investors: GlaxoSmithKline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development, particularly in drug discovery.
- Series F
- Amount Raised: $82.5M
- Date: December 2020
- Lead Investors: Sequoia Capital, NewView Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue funding and growing the business.
- Post-IPO Equity
- Amount Raised: $250M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives post-IPO.
Total Amount Raised: $1.06B. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm known for investing in early-stage and growth-stage companies. They have a broad investment portfolio across multiple sectors.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Google, Apple, WhatsApp.
- NewView Capital
- Details: NewView Capital is a venture capital firm that focuses on growth-stage companies. They aim to provide flexible capital solutions and strategic support to help companies scale.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Plaid, Duolingo, Scopely.
- GlaxoSmithKline
- Details: GlaxoSmithKline (GSK) is a global healthcare company that researches and develops a broad range of innovative medicines and brands.
- Investment Focus Areas: Pharmaceuticals, vaccines, consumer healthcare.
- Notable Investments: Innoviva, Vir Biotechnology, 23andMe.
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its brokerage, mutual funds, and investment management services.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, SpaceX, Airbnb.
- National Institutes of Health
- Details: The National Institutes of Health (NIH) is the primary agency of the United States government responsible for biomedical and public health research.
- Investment Focus Areas: Biomedical research, public health, medical innovation.
- Notable Investments: Various research grants and public health initiatives.
What's Next for 23andMe?
23andMe stands at the cusp of significant growth opportunities, driven by its recent $82.5 million funding round. This financial boost, backed by Sequoia Capital and NewView Capital, positions the company to expand its genetic testing services and delve deeper into research using aggregated genetic data. The potential applications in global health, particularly in addressing pandemics, highlight the vast market potential.
Future fundraising efforts seem promising as the company continues to grow and innovate. The substantial financial backing indicates that 23andMe may attract further investments to enhance its research capabilities and explore new markets. However, challenges such as managing workforce reductions, ensuring data privacy, and navigating a competitive landscape remain critical hurdles.
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