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Genoox Raises $8M, Names New Board Chair

NEW YORK – Genoox said Tuesday that it has closed an $8 million round of venture capital.

In Venture, the investment arm of Japanese industrial conglomerate Sumitomo, led the round, with participation from Infinity Medical. Previous investors Inimiti, Glilot Capital, and Triventures also took part in the unnamed round.

Palo Alto, California-based genomic analysis firm Genoox said that it would use the new funding to expand its customer base from its current level of 1,500 healthcare organizations. Genoox provides machine learning to analyze large amounts of genetic data from next-generation sequencing.

"With thousands of genomic professional users around the globe, our community is rapidly growing and helping the genetic medical community bridge the gap in clinical care," Amir Trabelsi, CEO and cofounder of Genoox, said in a statement. "The community [is] already generating novel and valuable insights for its members across a wide range of domains, including oncology, pediatrics, rare and undiagnosed diseases, reproductive health, pharmacogenetics, and more."

The company, which was founded in Israel, previously announced a venture investment in 2018, when it closed a $6 million round. Its last named round was a Series A in 2017.

Genoox also said that it has named Ohad Arazi chairman of the board. Arazi is entrepreneur-in-residence for Telus Ventures in Canada.