SOPHiA GENETICS Raises $30 Million in Series D Funding to Accelerate its Mission of Democratizing Data-Driven Medicine Worldwide
LAUSANNE, Switzerland, September 13, 2017-- SOPHiA GENETICS, the global leader in Data-Driven Medicine that has created SOPHiA Artificial Intelligence, today announced the close of a $30 million Series D funding round. The round was led by London-based Balderton Capital joined by 360º Capital Partners alongside existing investors British tech star Mike Lynch's Invoke Capital and Alychlo, the investment firm of Belgian pharmaceutical entrepreneur Marc Coucke.
The company's universal technology, SOPHiA AI, accurately analyzes and detects all types of genomic variants to help clinicians better diagnose and treat their patients. Its innovative technology and global approach were recently recognized by the MIT Technology Review's "50 Smartest Companies" , who ranked SOPHiA GENETICS thirtieth. SOPHiA is being used daily by 334 hospitals across 53 countries, and has tested over 125,000 patients to date.
This new round of funding enables SOPHiA GENETICS to continue its journey of democratizing Data-Driven Medicine worldwide. The company will use these resources to further develop its cutting-edge technology. Additionally, the company will continue recruiting top talent and accelerate hospitals' adoption of clinical genomics testing, no matter if they are equipped (with a Next-Generation DNA Sequencing lab) or not. The company's dedicated team who develops SOPHiA is driven to support clinicians by providing them with the best diagnosis technologies and helping them to find treatment options that save lives.
"Since inception, our vision has been to develop innovative technological solutions to help patients, equally wherever they live. SOPHiA acts as a real disruptor by breaking down the information silos in healthcare, meaning that the information from a patient in London or Paris can for instance help better diagnose and treat a patient in Lagos or Rio," - Dr. Jurgi Camblong, CEO and Co-Founder of SOPHiA GENETICS.
This is only the beginning. With more and more hospitals adopting SOPHiA AI, the company has created the largest clinical genomics community which enables the hundreds of institutions in the network to safely and anonymously share their findings and knowledge while ensuring patient data privacy.
"While recent technology disruptions have made DNA sequencing more affordable and available to the masses, issuing a clinically-proofed diagnostic based on a large set of genomic data remained time consuming and largely incomplete for healthcare professionals. Clinicians using SOPHiA GENETICS' artificial intelligence now have a best-in-class technology to unlock the full knowledge hidden behind DNA samples, and to set the right diagnostic for the right condition, in particular for oncology and hereditary disorders. The clinicians we met were unanimous about the incredible value brought by SOPHiA as part of their daily routine. We have been very impressed by the accomplishments of the team to date, and we are very excited to be working alongside the founders towards establishing SOPHiA GENETICS as the global leader in Data-Driven Medicine (DDM), " - Nicolas Autret, Partner at 360° Capital Partners.
In the near future, each medical interaction will start with a genomic test corroborated with other patients' health records. This 'Real Time Epidemiology' is paving the way for the new era of efficient personalized medicine and SOPHiA is at the forefront of facilitating this deployment.
"SOPHiA GENETICS is a company at the forefront of two rapidly changing technologies: genomic medicine and artificial intelligence. By giving every healthcare professional a standardized, straightforward and fast way to analyze these complex data sets is an essential step to unlock the potential of Data-Driven Medicine. As diagnostic kits and sequencers become cheaper and more powerful, we believe that there is an opportunity to build the defining software layer on top of these technologies in genomics, just as Windows did for PCs and Android has for smartphones, and SOPHiA GENETICS is already leading in this field," - James Wise, Partner at Balderton Capital.
Global leader in Data-Driven Medicine, SOPHiA GENETICS is a health tech company which has developed SOPHiA AI, the most advanced technology for clinical genomics, helping healthcare professionals better diagnose and treat patients. The global network of 334 institutions from 53 countries that use the SOPHiA DDM® analytical platform powered by SOPHiA form the world's largest clinical genomics community. By enabling the rapid adoption of genomic testing worldwide, turning data into actionable clinical insights, and sharing knowledge through its community, SOPHiA GENETICS is democratizing Data-Driven Medicine to save lives. More info: http://www.sophiagenetics.com.
SOPHiA GENETICS is on Twitter, follow @SOPHiAGENETICS.
Balderton Capital: is one of the largest venture capital firms in Europe, focused on investing in the best European technology companies at Series A. Based in London, the firm manages $2.3bn. Since 2000, Balderton has invested in over 100 companies, principally across Europe.
Notable investments include Talend (open-source data integration provider, went public on Nasdaq in 2016); Magic Pony Technologies (acquired by Twitter in 2016); NaturalMotion (the mobile gaming developer, sold to Zynga in 2014); Betfair (the online betting exchange, 2010 IPO; LOVEFiLM (the home entertainment subscription service, sold to Amazon in 2011); MySQL, (the open-source database software, sold to Sun Microsystems in 2008); and YOOX Group (the online retailer of leading fashion brands, IPO in 2009). The current portfolio includes companies such as 3D Hubs, Citymapper, Kobalt Music, Prodigy Finance, Qubit, Scytl, ROLI, Talend, and The Hut Group. More info: http://www.balderton.com.
360°Capital Partners is a Venture Capital firm, investing in Innovation at full scale, in Europe and more particularly in France and Italy.
Over Euro 300m under management in the last 15 years, 360° Capital Partners is managed by a consolidated team which has cumulated 60+ years of Venture Capital experience in investing in, following-up and/or exiting from over 80 companies. They leverage an important international network, having co-invested with major international Venture Capital funds in over 10 countries with a proven top quartile track record, either as individuals or as a team, in very different economic environments. More info: http://www.360capitalpartners.com.
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