NEW YORK – Proteomics firm Nautilus Biotechnology announced Thursday it has closed an oversubscribed $76 million Series B financing round.
Vulcan Capital led the round, joined by new investors Perceptive Advisors, Bezos Expeditions, and Defy Partners. Previous investors AME Cloud Ventures, Andreessen Horowitz, Bolt, and Madrona Venture Group also joined the round.
Nautilus plans to use the funds to develop its proteomics platform and expand its scientific and engineering teams.
"We believe that a reimagining of proteomics is long overdue," Stuart Nagae, director of venture capital at Vulcan Capital, said in a statement. "Nautilus has put together a special team with the vision, creativity, and experience to achieve that breakthrough, and execute on their vision."
Founded in 2016 and based in San Carlos, California and Seattle, Nautilus is working on a low-cost, high-throughput platform for analyzing and quantifying the human proteome. Including the latest financing round, it has raised more than $100 million. The firm's CEO and cofounder Sujal Patel is the founder of Isilon Systems, a life sciences data firm that sold in 2010 to EMC for $2.6 billion. Nautilus' other cofounder, Parag Mallick, is a professor of radiology at Stanford University whose research uses multi-omic technologies to develop diagnostics.
"Existing proteomics technologies are slow, expensive, incomplete, and lack the sensitivity to deliver deep and meaningful insight into biological processes," Patel said in a statement. “Bringing together Parag's breakthrough science with my deep understanding of large-scale IT has enabled us to approach the problem in a fundamentally new, more holistic way. Our value derives from a unique, interdisciplinary combination of biochemistry, computer science, and substantial business experience."