Total amount raised
$2 Billions
Latest funding date
5/1/2020
Location
Grail has successfully raised significant funds through multiple rounds, culminating in its acquisition by Illumina for $8 billion. The company specializes in developing pan-cancer screening tests aimed at early cancer detection.
Keep reading to explore the intricacies of Grail's fundraising journey and the investors backing this innovative healthcare platform.
What Is Grail?
Grail, founded in 2016 by Jeff Huber and Mostafa Ronaghi, is a healthcare company based in Menlo Park, California. The company specializes in developing pan-cancer screening tests aimed at early cancer detection.
Grail's innovative approach involves measuring circulating nucleic acids in blood using high-intensity sequencing and population-scale clinical trials. This enables the development of blood tests for early-stage cancer detection.
With a team of 1001-5000 employees, Grail is dedicated to transforming cancer screening and improving patient outcomes through early detection technologies.
How Much Funding Has Grail Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and begin initial research and development.
- Series A
- Amount Raised: $100M
- Date: January 12, 2016
- Lead Investors: Illumina
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage development of their pan-cancer screening tests.
- Series B
- Amount Raised: $1.2B
- Date: March 1, 2017
- Lead Investors: ARCH Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up clinical trials and further develop their technology.
- Series C
- Amount Raised: $300M
- Date: May 21, 2018
- Lead Investors: 6 Dimensions Capital, Ally Bridge Group, Hillhouse Investment, Huangpu River Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of their blood-based multi-cancer early detection test.
- Series D
- Amount Raised: $390M
- Date: May 6, 2020
- Lead Investors: Public Sector Pension Investment Board, Canada Pension Plan Investment Board
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the continued development and commercialization of their multi-cancer early detection test.
Total Amount Raised: $1.99B. Current Valuation: $8B.
Key Investors
- Illumina
- Details: Illumina is a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. The company focuses on innovative solutions for genetic analysis.
- Investment Focus Areas: Genomics, biotechnology, genetic analysis, cancer diagnostics, personalized medicine.
- Notable Investments: Adaptive Biotechnologies, Twist Bioscience, Grail.
- ARCH Venture Partners
- Details: ARCH Venture Partners is a venture capital firm that invests in the development of seed and early-stage advanced technology companies. They have a strong focus on life sciences and physical sciences.
- Investment Focus Areas: Life sciences, physical sciences, advanced technology.
- Notable Investments: Alnylam Pharmaceuticals, Illumina, Grail.
- 6 Dimensions Capital
- Details: 6 Dimensions Capital is a leading healthcare-focused investment firm that merges the strengths of China and the U.S. markets. They aim to support innovative healthcare companies.
- Investment Focus Areas: Biotechnology, pharmaceuticals, medical devices, healthcare services.
- Notable Investments: Innovent Biologics, Grail, Zai Lab.
- Ally Bridge Group
- Details: Ally Bridge Group is a global healthcare-focused investment firm that invests in high-impact life science innovations. They have a strong presence in both the U.S. and China.
- Investment Focus Areas: Biotechnology, medical devices, diagnostics, healthcare services.
- Notable Investments: WuXi AppTec, Grail, Pulmonx.
- Hillhouse Investment
- Details: Hillhouse Investment is a global investment firm that partners with world-class entrepreneurs to build businesses across various sectors. They have a significant focus on long-term investments.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Tencent, JD.com, Grail.
What's Next for Grail?
Grail's future is brimming with potential as it continues to develop its blood-based multi-cancer early detection test. With the ability to detect over 50 types of cancers, the test could revolutionize early cancer detection and significantly reduce mortality rates. The market for such a test is vast, encompassing both developed and underserved regions, offering Grail a substantial growth opportunity.
Future fundraising efforts are likely to focus on scaling up production, conducting further clinical trials, and navigating regulatory approvals. The involvement of major investors like Illumina and the Canada Pension Plan Investment Board underscores the strong financial backing Grail enjoys, paving the way for continued investment.
However, challenges remain. Regulatory hurdles and competition from other companies in the liquid biopsy space could pose significant obstacles. Ensuring the test's accuracy across diverse populations will be crucial for its widespread adoption. Despite these challenges, Grail's innovative approach and strong investor support position it well for future success.
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