Total amount raised
$1.4 Billions
Latest funding date
Location
Title
Theranos has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company's journey through the highs and lows of the biotech industry has been nothing short of eventful.
Keep reading to explore the intricacies of Theranos' fundraising journey and the investors backing this once-promising biotech venture.
What Is Theranos?
Theranos, founded in 2003 by Elizabeth Holmes, is a biotechnology company based in Palo Alto, California. The company claimed to develop technology for early disease detection and prevention through revolutionary blood testing methods.
Theranos aimed to conduct a wide range of tests using just a few drops of blood obtained through a fingerstick, promising quick and accurate results. At its peak, the company employed between 501 and 1000 people.
Despite its ambitious goals, Theranos faced significant challenges and controversies, ultimately leading to its closure. The company's journey remains a notable chapter in the biotech industry.
How Much Funding Has Theranos Raised?
- Seed Round
- Amount Raised: $500K
- Date: June 2004
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and business model.
- Series A
- Amount Raised: $5.8M
- Date: February 2005
- Lead Investors: Rupert Murdoch
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research and development efforts.
- Series B
- Amount Raised: $9.1M
- Date: February 2006
- Lead Investors: ATA Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop the technology.
- Series C
- Amount Raised: $28.5M
- Date: November 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for market entry and regulatory approvals.
- Venture Round
- Amount Raised: $45M
- Date: July 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support clinical trials and expand the team.
- Corporate Round
- Amount Raised: $50M
- Date: September 2013
- Lead Investors: Walgreens
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish retail partnerships and expand market presence.
- Private Equity Round
- Amount Raised: $198.9M
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Private Equity Round
- Amount Raised: $348.5M
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Secondary Market
- Amount Raised: $582.2M
- Date: May 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Debt Financing
- Amount Raised: $100M
- Date: December 2017
- Lead Investors: Fortress Investment Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To address financial challenges and sustain operations.
Total Amount Raised: $1.368B. Current Valuation: Not publicly disclosed.
Key Investors
- Fortress Investment Group
- Details: Fortress Investment Group is a leading, highly diversified global investment manager with approximately $53.3 billion of assets under management as of December 31, 2020. Founded in 1998, Fortress manages assets on behalf of over 1,800 institutional clients and private investors worldwide.
- Investment Focus Areas: Credit, real estate, private equity, permanent capital vehicles.
- Notable Investments: Intrawest, RailAmerica, Brookdale Senior Living.
- Walgreens
- Details: Walgreens is one of the largest pharmacy chains in the United States, providing access to consumer goods and services, pharmacy, and health and wellness services. The company operates thousands of stores across the country.
- Investment Focus Areas: Retail pharmacy, health and wellness, consumer goods.
- Notable Investments: Alliance Boots, VillageMD, LabCorp.
- Rupert Murdoch
- Details: Rupert Murdoch is a media mogul and the founder of News Corporation, one of the world's largest media companies. He has a significant influence in the media industry through various holdings.
- Investment Focus Areas: Media, publishing, entertainment.
- Notable Investments: 21st Century Fox, The Wall Street Journal, HarperCollins.
- ATA Ventures
- Details: ATA Ventures is a venture capital firm that focuses on early-stage investments in technology companies. The firm is known for its hands-on approach to helping startups grow.
- Investment Focus Areas: Technology, software, healthcare.
- Notable Investments: Bigfoot Biomedical, InvenSense, Xactly.
- Puget Sound Venture Club
- Details: Puget Sound Venture Club is a network of angel investors based in the Pacific Northwest. The club focuses on early-stage investments and provides mentorship to startups.
- Investment Focus Areas: Early-stage technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Theranos?
With the recent $100 million funding from Fortress Capital, Theranos has a significant opportunity to stabilize its operations and invest in new technology. This financial boost could enable the company to explore new markets and enhance its existing products, aligning with the growing interest in innovative medical technologies.
Future fundraising opportunities seem promising, as the successful securing of funds from Fortress Capital may attract additional investors. However, Theranos faces challenges such as restoring public trust, navigating regulatory hurdles, and competing with established health tech players. Overcoming these obstacles will be crucial for the company's sustained growth and potential future acquisitions.
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