Health tech startup Color Genomics raises $100M to enable the delivery of advanced healthcare through clinical genetics; now valued at over $4 billion | Tech News

Well being tech startup Color Genomics introduced Tuesday it has raised $100 million funding as traders proceed to pour billions into the crowded digital well being market. The announcement comes about ten months after the corporate raised $167 million in Series D funding to allow the supply of superior healthcare via scientific genetics.

Coloration’s newest funding spherical was led by enterprise capital fund Kindred Ventures, with participation from present traders together with Common Catalyst, Viking World Buyers, and billionaire philanthropist Laurene Powell Jobs’ Emerson Collective. The newest spherical brings the corporate’s valuation to over $4 billion. Up to now, Coloration has raised a complete of $378 million in funding.

Based in 2015 by Elad Gil, Nish Bhat, Othman Laraki, and Taylor Sittler, Coloration is a inhabitants well being know-how firm that focuses on offering large-scale well being care packages and scientific testing. It improves the important thing well being infrastructure methods to make well being accessible, handy, and cost-effective, serving well being methods, employers, analysis establishments, and particular person shoppers.

Coloration’s Inhabitants GenomicsPlatform gives modular and end-to-end options that allow organizations to successfully construct and scale inhabitants well being packages. It supplies know-how, software program, and scientific providers to assist inhabitants packages launch and scale shortly.

Coloration’s $249 check equipment additionally analyzes 30 genes which might be linked to an elevated threat for frequent hereditary cancers. The corporate’s tech can check dangers of a number of cancers, together with breast, colorectal, melanoma, ovarian, pancreatic, prostate, abdomen, and uterine cancers.

By way of partnerships with private and non-private establishments such because the Metropolis of San Francisco, the Teamsters Union, the Nationwide Institutes of Well being, Salesforce, the State of California, and United Airways, Coloration’s infrastructure and software program make it attainable for big populations to obtain important healthcare providers instantly the place they stay or work. These embrace testing and telehealth providers for preventive well being and infectious illness administration.

In response to the COVID-19 pandemic, Coloration additionally partnered with greater than 100 main employers and universities to supply essential testing packages. Coloration’s software program is powering the State of California’s efforts with PerkinElmer to course of as much as 150,000 COVID-19 assessments each day. Coloration’s partnership with the Metropolis of San Francisco has helped the town keep one of many nation’s highest per-capita COVID-19 testing charges.

Under is a video overview of Coloration. | Well being tech startup Coloration Genomics raises $100M to allow the supply of superior healthcare via scientific genetics; now valued at over $4 billion | Tech Information


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