23andMe Eyes $1.7B Valuation With $200M Round

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Genetics company 23andMe is in the process of raising about $200 million, as first reported by TechCrunch. The funding will reportedly be led by Sequoia and come with a $1.7 billion valuation. 23andMe offers genetic services that provide users with information about their ancestry and personal health.

News of the round comes about five months after 23andMe scored a big win for one of its products, with the US Food and Drug Administration approving a saliva-based test that assesses a person’s genetic risk for Alzheimer’s, Parkinson’s and eight other diseases. Since it was founded in 2006, the Bay Area biotech has raised hundreds of millions—but co-founder and CEO Anne Wojcicki is said to be in no rush to IPO. Here’s a look at the company’s equity funding history:

May 2007: $9M funding | $45M valuation

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Dec. 2009: $27.8M | $138.9M

Jan. 2011: $31M | $179M

Dec. 2012: $58M | $288.7M

Oct. 2015: $115M | $1.1B

Want more info on 23andMe? Check out its free profile.

Article by PitchBook