GV, the corporate venturing subsidiary of conglomerate Alphabet, yesterday backed a $65m series A round for US-based health technology producer Freenome.
The round was led by VC firm Andreessen Horowitz, with further participation from Data Collective, Founders Fund, Polaris Partners, Innovation Endeavors, Asset Management Ventures, Charles River Ventures and Spectrum 28.
Founded in 2014, Freenome is using machine learning, computer science and biology to develop simple and effective disease screenings, with an initial focus on lung, colorectal, breast and protaste cancer.
The series A capital will be used to expand clinical trials, accelerate research activities and bring first tests to the market. Vijay Pande, general partner at Andreessen Horowitz, will join Freenome’s board of directors.
Andreessen Horowitz led a $5.5m seed round in June 2016 that featured Founders Fund, Data Collective and Third Kind Venture Capital.
Gabe Otte, co-founder of Freenome, said: “Our goal is to bringing accurate, accessible and non-invasive disease screenings to doctors to proactively treat cancer and other diseases at their most manageable stages.
“This funding will allow us to increase the number of clinical trials in collaboration with top researchers and clinicians around the world, enabling us to bring our product to market more quickly and equip people with knowledge and tools to live healthier lives.”