NEW YORK – Precision health company SelfDecode has raised over $1 million in an ongoing crowdfunded investment round run through WeFunder, the firm said on Monday.
The company plans to use the funding to grow its research and development team and begin partnering with corporations with the aim of reducing healthcare costs via preventative treatments, providing clinical decision support systems to medical providers, and conducting clinical trials for FDA approval of patented diagnostic tests.
SelfDecode said it builds genomic models by analyzing DNA and environmental factors with deep learning, Bayesian machine learning, and hyperdimensional computing methods. The company uses the resulting models to deliver personalized health recommendations.
"We are ecstatic to see such excitement from individual investors who recognize the accomplishments that SelfDecode has realized and believe in what we are building," Joe Cohen, SelfDecode's founder and CEO, said in a statement.
In addition to DNA testing, SelfDecode offers health and lifestyle recommendations based on medical lab results uploaded by users.
The company said it had nearly $2.5 million in revenue over the past year and 14,500 active, paid members.