Health tech startup Color Genomics raises $100M to enable the delivery of advanced healthcare through clinical genetics; now valued at over $4 billion
Health tech startup Color Genomics announced Tuesday it has raised $100 million investment as investors continue to pour billions into the crowded digital health market. The announcement comes about ten months after the company raised $167 million in Series D funding to enable the delivery of advanced healthcare through clinical genetics.
Color’s latest funding round was led by venture capital fund Kindred Ventures, with participation from existing investors including General Catalyst, Viking Global Investors, and billionaire philanthropist Laurene Powell Jobs’ Emerson Collective. The latest round brings the company’s valuation to over $4 billion. To date, Color has raised a total of $378 million in funding.
Founded in 2015 by Elad Gil, Nish Bhat, Othman Laraki, and Taylor Sittler, Color is a population health technology company that focuses on providing large-scale health care programs and clinical testing. It improves the key health infrastructure systems to make health accessible, convenient, and cost-effective, serving health systems, employers, research institutions, and individual consumers.
Color’s Population GenomicsPlatform offers modular and end-to-end solutions that enable organizations to effectively build and scale population health programs. It provides technology, software, and clinical services to help population programs launch and scale quickly.
Color’s $249 test kit also analyzes 30 genes that are linked to an increased risk for common hereditary cancers. The company’s tech can test risks of several cancers, including breast, colorectal, melanoma, ovarian, pancreatic, prostate, stomach, and uterine cancers.
Through partnerships with public and private institutions such as the City of San Francisco, the Teamsters Union, the National Institutes of Health, Salesforce, the State of California, and United Airlines, Color’s infrastructure and software make it possible for large populations to receive essential healthcare services directly where they live or work. These include testing and telehealth services for preventive health and infectious disease management.
In response to the COVID-19 pandemic, Color also partnered with more than 100 major employers and universities to provide critical testing programs. Color’s software is powering the State of California’s efforts with PerkinElmer to process up to 150,000 COVID-19 tests daily. Color’s partnership with the City of San Francisco has helped the city maintain one of the nation’s highest per-capita COVID-19 testing rates.
Below is a video overview of Color.