Consumer electronics producer Samsung’s Catalyst Fund has led the $14m second tranche of a series B round for US-based genomic testing telemedicine service Genome Medical that now totals $37m.
Genome Medical’s telemedicine service guides patients to suitable tests to genetic testing and experts that can help them navigate the process. The funding will go to technology development.
The June 2019 first close was led by Echo Health Ventures, a partnership between healthcare provider Cambia Health Solutions and health insurer Blue Cross Blue Shield of North Carolina’s Mosaic Health Solutions unit.
Industrial technology provider General Electric, genomics technology producer Illumina, law firm Manatt Phelps & Phillips and care provider Kaiser Permanente also backed the 2019 tranche, through GE Ventures, Illumina Ventures, Manatt Venture Fund and Kaiser Permanente Ventures.
LRVHealth, Casdin Capital, Perceptive Advisors, Canaan Partners, HealthInvest Equity Partners and Dreamers Fund rounded off the first close. The company has now raised $60m altogether.
GE Ventures led the company’s $11m series A-1 round in early 2018, investing with Kaiser Permanente Ventures, Illumina Ventures and Canaan Partners. Its earlier backers include Illumina Ventures, Canaan, HealthInvest Equity Partners and Flywheel Ventures.