CHICAGO (GenomeWeb) – Sophia Genetics has closed on a $30 million Series D round of venture capital, the Swiss genomic analytics company announced today.
UK-based Balderton Capital led the round, with participation from 360° Capital Partners and previous Sophia Genetics investors Invoke Capital and Alychlo.
Sophia, headquartered in St. Sulpice, Switzerland, will use the new funding to continue to develop its core technology — called Data Driven Medicine (DDM) — and complementary SOPHiA artificial intelligence platform, as well as to bring on new employees. The company said that it would accelerate its push to get its clinical genomics testing technology into hospitals, including facilities that do not have next-generation sequencing laboratories, suggesting that many of the hires would be on the sales side.
"Giving every healthcare professional a standardized, straightforward, and fast way to analyze these complex data sets is an essential step to unlock the potential of data-driven medicine," Balderton Capital Partner James Wise said in a statement. "As diagnostic kits and sequencers become cheaper and more powerful, we believe that there is an opportunity to build the defining software layer on top of these technologies in genomics, just as Windows did for PCs and Android has for smartphones."
SOPHiA AI draws on a deep database the company has been building since development on DDM began in 2012 and since the platform hit the market in 2014. The AI technology added support for liquid biopsies in June.