This news comes on the heels of its Series I round. The funding will help DNAnexus support product development and international growth. Here are the top-line bullets you need to know.
DNAnexus, a multiomics platform, has raised $200M in a Series I. The round drew participation from Blackstone, Foresight Capital, and Google Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based DNAnexus helps healthcare and life sciences organizations share and analyze DNA-sequencing data.
- The platform has 12K users across 48 countries.
- It currently stores 65+ petabytes of data.
- DNAnexus is supported by a team of 130+ people.
Source: DNAnexus
WHY DOES THE MARKET MATTER?
- The global bioinformatics market is expected to reach a value of $24.7B by 2027, growing at a CAGR of 13.4%, according to Allied Market Research.
- The space has seen significant investments from major IT players like Microsoft, Amazon, and IBM.
- Governments and private organizations are increasingly launching and accelerating drug discovery & development and initiatives, which has contributed to growth in this market.
