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DNAnexus Raises $15M in Series C Round

NEW YORK (GenomeWeb News) — DNAnexus today said that it has closed a $15 million Series C round of financing.

The Mountain View, Calif.-based firm provides cloud-based software for large-scale DNA data management and analysis. It said that its Platform-as-a-Service "is experiencing rapid customer adoption and delivers a cost-effective solution to the challenges that global enterprises face when building clinically compliant analysis pipelines for DNA sequence data." It said that its service provides a centralized hub for managing data and enables collaboration while remaining compliant with HIPAA, CLIA, and international regulatory requirements.

The funding round was led by Claremont Creek Ventures, Google Ventures, TPG Biotech, and First Round Capital. In late 2011 the firm had announced a second round of funding that brought in $15 million, as well as a collaboration with Google.

"This funding will significantly expand our capacity to support the growing number of commercial and academic labs around the world utilizing our platform to manage DNA data and analyses in a clinically appropriate manner," DNAnexus CEO Richard Daly said in a statement.

The firm noted recent collaborations with Stanford University and Baylor College of Medicine under which the company has processed more than 17,000 genomes and generated more than 500 terabytes of genomic data. It said that datasets from those collaborations are available to researchers participating in the 1000 Genomes Project and the Cohorts for Heart and Aging Research in Genomic Epidemiology Consortium.