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Sema4 Raises $121M in Series C Financing Round

NEW YORK – Sema4 said on Wednesday that it has raised $121 million in an oversubscribed Series C financing round, giving the genetic testing and data analysis firm a valuation of over $1 billion.

BlackRock, the world's largest investment manager, led the round and was joined by new investors Deerfield Management and Moore Strategic Ventures and existing investors Blackstone, Section 32, Oak HC/FT, Decheng Capital, and the Connecticut Innovation Fund. Deerfield Partner Andrew Elbardissi has joined Sema4's board of directors.

"Sema4 is a leader at the forefront of one of the most exciting intersections in healthcare – the application of technology, [artificial intelligence], and machine learning to help improve patient outcomes. We are excited to support this talented management team as Sema4 begins its next phase of growth," BlackRock Head of Innovation Capital William Abecassis said in a statement.

Sema4, a Mount Sinai Health System spinout based in Stamford, Connecticut, raised $127 million in its 2019 Series B financing round, according to Pitchbook.

The firm recently received New York State Health Department approval to conduct its Signal Whole Exome/Transcriptome Sequencing and PanCancer somatic tests.

"This investment is exciting for the significant financial resources it provides Sema4 for our continued rapid growth and accelerated investment, and also for the world-renowned partners it brings to our team," Sema4 CEO and Founder Eric Schadt said in a statement. "I look forward to working with our new and existing investors — who collectively have deep expertise in the life and data sciences — as we create cutting-edge precision medicine solutions for providers and patients to dramatically improve health outcomes."

Goldman Sachs acted as exclusive placement agent for the financing.