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$15 Million Funding Round at DNAnexus

January 3, 2013 | It's been a busy several months for DNAnexus, which is trying to build on its early entry into cloud-based genomic analysis to become the go-to provider in this increasingly competitive area. In September, DNAnexus launched its platform-as-a-service, including storage and computing infrastructure for NGS data and a mixture of proprietary and public analytical tools. The company has boasted of rapid customer adoption – including, in October, an agreement with Baylor College of Medicine to provide the informatics architecture for the Cohorts for Heart and Aging Research in Genomic Epidemiology (CHARGE) Consortium, which with almost 4,000 whole genomes and over 10,000 whole exomes sequenced may house the largest single collection of genetic data yet produced. However, like most of its competitors, DNAnexus is still reliant on outside funding at this early stage. Now, a Series C funding round has raised $15 million for the company, capital that will be committed to fully commercializing the DNAnexus platform. Early investors Google Ventures, TPG Biotech, and First Round Capital continued their support of the company, and were joined by new investor Claremont Creek Ventures in this large round of financing.
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