Color Health has successfully raised $140 million over four funding rounds, achieving a valuation of $4.6 billion. The company provides technology and infrastructure to power large-scale health initiatives, making data-driven health programs accessible and cost-effective.
Keep reading to explore the intricacies of Color Health's fundraising journey and the investors backing this innovative platform.
What Is Color Health?
Color Health, founded by Othman Laraki, Taylor Sittler, and Elad Gil, is headquartered in Burlingame. The company focuses on providing technology and infrastructure to support large-scale health initiatives.
With a team of 51-200 employees, Color Health partners with health systems, employers, and national health initiatives to make data-driven health programs accessible and cost-effective.
They are known for their work in clinical genetics and cancer care, offering services that include screening, diagnostics, and virtual clinical support.
How Much Funding Has Color Health Raised?
- Seed Round
- Amount Raised: $15,000,000
- Date: April 2015
- Lead Investors: Khosla Ventures, Formation 8
- Motivation Behind the Round: To democratize access to genetic testing and make it affordable for a broader population, including lower-income communities through the Every Woman Program.
- Series B Round
- Amount Raised: $45,000,000
- Date: September 2016
- Lead Investors: General Catalyst Partners
- Motivation Behind the Round: To make genetic testing for cancer risk more affordable and accessible, and to expand the reach of their tests to tens or hundreds of millions of people.
- Series C Round
- Amount Raised: $80,000,000
- Date: August 2017
- Lead Investors: General Catalyst
- Motivation Behind the Round: To continue developing new tests for hereditary conditions and new services that help clients proactively manage their health.
- Series E Round
- Date: November 2021
- Valuation at Round: $4.6 billion
- Motivation Behind the Round: To scale operations and expand technological capabilities to support large-scale health initiatives.
Total Amount Raised: $140 million
Current Valuation: $4.6 billion
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that led Color Health's Series B and Series C funding rounds. The firm is known for its early-stage and growth equity investments.
- Investment Focus Areas: Healthcare, technology, consumer services
- Notable Investments: Airbnb, Stripe, Snap
- Emerson Collective
- Details: Founded by Laurene Powell Jobs, Emerson Collective is an organization that focuses on social change initiatives. It participated in Color Health's Series C funding round.
- Investment Focus Areas: Education, social justice, health
- Notable Investments: AltSchool, Axios, Ozy Media
- CRV
- Details: CRV is a venture capital firm that participated in Color Health's Series C funding round. The firm has a long history of investing in early-stage technology companies.
- Investment Focus Areas: Technology, enterprise, healthcare
- Notable Investments: Twitter, DoorDash, Zendesk
- Khosla Ventures
- Details: Founded by Vinod Khosla, Khosla Ventures is a venture capital firm that focuses on impactful technology investments. It was a lead investor in Color Health's seed round.
- Investment Focus Areas: Technology, healthcare, sustainability
- Notable Investments: Square, DoorDash, Impossible Foods
- Formation 8
- Details: Formation 8 is a venture capital firm that invests in technology and industrial sectors. It was a lead investor in Color Health's seed round.
- Investment Focus Areas: Technology, industrial sectors
- Notable Investments: Oculus VR, RelateIQ
What's Next for Color Health?
Color Health stands at the cusp of significant growth opportunities, driven by the increasing demand for affordable genetic testing and personalized medicine. The company aims to expand its range of genetic tests, making them accessible to a broader population. This expansion could potentially reach tens or hundreds of millions of people, offering substantial cost savings for companies and insurers by preventing late-stage cancer treatments.
Future fundraising efforts are likely to focus on scaling operations and enhancing technology. The successful Series C round and the company's growth trajectory suggest potential for additional funding rounds. However, challenges such as competition from other genetic testing companies and navigating regulatory requirements remain. Ensuring the scientific validity and actionable results of new tests will be crucial as Color Health continues to innovate in the genetic testing space.
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