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BillionToOne Raises $55M in Series B Financing

NEW YORK – BillionToOne said Monday that it has closed a $55 million oversubscribed Series B funding round. Existing investor Hummingbird Ventures and incoming investor Four Rivers Group led the round, with significant participation from Neotribe Ventures, Norwest Venture Partners, Y Combinator, and Libertus Capital.

Menlo Park, California-based BillionToOne currently markets a test called Unitya noninvasive prenatal screening assay designed to detect inherited disorders including cystic fibrosis and spinal muscular atrophy in a fetus via a maternal blood sample.

The firm recently expanded its CLIA laboratory facility to meet growing demand for the assay, according to Oguzhan Atay, CEO and cofounder of BillionToOne, and the Series B funding will help pay for the build-out.

"Our CLIA laboratory has been operating near capacity for the past six months [and] now that we have moved to a laboratory with significantly higher capacity we will be able to expand our commercial team nationwide and continue to meet our growing demand," he said in a statement.

BillionToOne also said funding from the Series B will help accelerate its development of a high-resolution oncology, liquid biopsy product line based on the same platform that powers Unity.

BillionToOne also said it has appointed Nipun Soni as its first chief financial officer. Soni has over 20 years of financial experience and most recently served as senior VP of finance at Guardant Health.