BillionToOne, a trailblazing molecular diagnostics company, has achieved a significant milestone by raising $130 million in its Series D funding round, marking a valuation surpassing $1 billion. This oversubscribed financing round was led by Premji Invest, with major contributions from Neuberger Berman and existing investors Adam Street Partners, Baillie Gifford, and Hummingbird Ventures, among others.
Founded on groundbreaking technology known as Quantitative Counting Templates™ (QCTs™), BillionToOne has revolutionized molecular diagnostics by enabling precise DNA molecule counting at single base-pair accuracy. This innovation has empowered the company to develop pioneering tests that redefine possibilities in prenatal screening and oncology diagnostics.
Akshay Rai, leading the Series D round and joining BillionToOne’s Board of Directors, expressed enthusiasm about the company’s trajectory. “BillionToOne has demonstrated exceptional growth and innovation in the prenatal segment. With promising developments in liquid biopsy products like Northstar Select® and Northstar Response®, we foresee significant potential in expanding diagnostic options across various medical specialties.”
BillionToOne’s flagship product, UNITY Fetal Risk™ Screen, represents a breakthrough in prenatal testing, utilizing fetal cell-free DNA to assess risks for aneuploidies and recessively inherited conditions without the need for invasive procedures. Additionally, their oncology products, Northstar Select® and Northstar Response®, provide advanced solutions for therapy selection and monitoring treatment responses in late-stage cancer patients.
Since its inception, BillionToOne has served over 500,000 patients and achieved remarkable growth, reaching $125 million in annual recurring revenue in just under four years. The company’s total capital raised now stands close to $400 million, reflecting strong investor confidence and support for its pioneering advancements in molecular diagnostics.
The Series D funding round adds to BillionToOne’s impressive roster of investors, which includes NeoTribe Ventures, Norwest Venture Partners, and Y Combinator, underscoring its status as a leader in the healthcare technology sector.
