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Watchmaker Genomics Raises $40M in Series A Financing

NEW YORK – Watchmaker Genomics said on Thursday that it has raised $40 million in a Series A financing round.

Decheng Capital led the round with co-investment from Eclipse Ventures.

The Boulder, Colorado-based sample preparation firm said it would use the funds for its protein-engineering platform and deliver new products for clinical sequencing, single-cell analysis, epigenetics, and cell-free DNA analysis. It will also expand its commercial channels and manufacturing capacity.

"The additional financing will enable Watchmaker to more quickly scale our organization to meet the explosive demands of the genomics industry and help to further realize our vision of more personalized medicine and improved human health," CEO and Cofounder Trey Foskett said in a statement.

Watchmaker said it has raised $53 million to date. In a statement, the firm said it has "achieved profitability" and is seeing revenue growth of 175 percent year over year, although which periods that referred to was not disclosed. The firm did not immediately respond to a request for additional comment.

The firm has established partnerships with Twist Bioscience, Element Biosciences, Singular Genomics, and Molecular Loop.