23andMe Raises $115 Million in Series E Financing Led by Fidelity Management & Research Company
October 14, 2015
Capital Expansion to Fund Launch of New Global User Experience, Sales Growth and Therapeutics Discovery Group Efforts
MOUNTAIN VIEW, Calif. – October 14, 2015 – 23andMe, Inc., the leading personal genetics company, today announced it has raised $115 million in a Series E financing led by Fidelity Management & Research Company.
Among the firms joining Fidelity are new investors Casdin Capital, WuXi Healthcare Ventures and Xfund, as well as existing investors including Illumina (ILMN), New Enterprise Associates, MPM Capital, and Google Ventures. This investment will enable the company to expand its operations and maximize the potential of its direct-to-consumer product in the US and abroad. The company expects to launch a new user experience that includes carrier status reports in the US, as well as enhanced tools and functionality for customers by the end of the year. The Series E financing will also provide capital for strategic infrastructure including new laboratory space for therapeutic research, a next generation sequencing laboratory as well as other investments in long-term growth.
“23andMe pioneered the personal genetics industry. Our efforts to enable individuals to access, understand and benefit from the human genome have achieved a level of scale that will enable us to further advance genetic research and drug discovery around the world,” said Andy Page, president of 23andMe. “This round of funding will enable us to further our vision for long term growth in our consumer and therapeutic businesses.”
The Power of One Million and Beyond
In 2015 23andMe achieved its initial goal to reach and serve one million individuals, and remains focused on expanding its customer base. Among its other recent accomplishments:
- First company to receive market authorization from the US Food and Drug Administration (FDA) for a direct-to-consumer genetic test.
- Expanded international product offering localized for UK, Canada and certain EU countries.
- Executed several pharmaceutical and academic collaborations for disease related research, further validating the capabilities of 23andMe’s database of genetic and phenotypic information and re-contactability of patient cohorts.
- Established therapeutics discovery group led by Dr. Richard Scheller as chief science officer.
From expanding access to 23andMe’s Personal Genome Service®, to accelerating a powerful research platform that can enable meaningful research discoveries, this round of financing strategically positions 23andMe to continue leading the personal genetics movement and empowering individuals worldwide to take greater control of their health.
23andMe, Inc., headquartered in Sunnyvale, CA, is a leading consumer genetics and research company. Founded in 2006, the company’s mission is to help people access, understand, and benefit from the human genome. 23andMe has pioneered direct access to genetic information as the only company with multiple FDA clearances for genetic health reports. The company has created the world’s largest crowdsourced platform for genetic research, with 80% of its customers electing to participate. The 23andMe research platform has generated more than 180 publications on the genetic underpinnings of a wide range of diseases. The platform also powers the 23andMe Therapeutics group, currently pursuing drug discovery programs rooted in human genetics across a spectrum of disease areas, including oncology, respiratory, and cardiovascular diseases, in addition to other therapeutic areas. More information is available at www.23andMe.com.