Personalis Raises $33M in Series C Financing
Menlo Park, CA | January 13, 2015 – Personalis, Inc., a leading genomics-based clinical diagnostic laboratory, announced today that is has completed a $33 million Series C financing round. Lightspeed Venture Partners led the round, bringing the company's total venture capital raised to date to $75 million.
"This new round of financing will be instrumental in ramping the scale of our operations," said John West, Chief Executive Officer of Personalis. "We have had a very positive response to our new offerings in cancer genomics, especially from pharmaceutical customers, and our Mendelian genetic testing business continues to grow. We find that customers are becoming more sophisticated in understanding the limitations of off-the-shelf next-generation sequencing and analysis tools. They increasingly appreciate that our technology provides them with meaningfully better clinical interpretation. With a broadening customer base and strong repeat orders, this additional capital will be important for driving our rapid and continued expansion."
"Personalis has demonstrated operational excellence in building out an impressive product portfolio," said Chris Schaepe, Partner at Lightspeed Venture Partners and Personalis Board Member. "We have been particularly impressed by Personalis' repeat business from both domestic and international customers," noting that the company has received orders from eleven different countries, including five in Asia.
All of the Series A investors also participated in the Series C financing, including Abingworth and Mohr Davidow Ventures.
About Personalis, Inc.
Personalis, Inc. provides researchers and clinicians advanced genome-scale sequencing and interpretation services for inherited genetic disease and cancer. The company's clinical laboratory is CLIA licensed and CAP accredited. For more information please visit www.personalis.com.
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