SOPHiA Genetics, a company deploying AI for genomic analysis, has announced a $30 million funding round led by Balderton Capital. 360 Capital Partners, Invoke Capital, and Alychlo also participated in the Series D round.
SOPHiA has built a data-driven AI service that works with existing sequencing technologies for diagnostics in oncology, hereditary cancer, metabolic disorders, paediatrics, and cardiology. Its SaaS platform called SOPHiA DDM diagnoses 8,000 patients a month and is used in 330 hospitals in 53 countries. It recently launched a new app for the area of liquid biopsies.
These tools will improve doctors’ diagnoses decisions, according to the company, while preserving data privacy.
The funds will be invested in further development of the product and hospital recruitment.
“Since inception, our vision has been to develop innovative technological solutions to help patients, equally wherever they live,” said Dr Jurgi Camblong, CEO of SOPHiA Genetics. “SOPHiA acts as a real disruptor by breaking down the information silos in healthcare, meaning that the information from a patient in London or Paris can for instance help better diagnose and treat a patient in Lagos or Rio.”
“As diagnostic kits and sequencers become cheaper and more powerful, we believe that there is an opportunity to build the defining software layer on top of these technologies in genomics,” commented James Wise, partner at Balderton Capital, “just as Windows did for PCs and Android has for smartphones, and Sophia is already leading in this field.”
SOPHiA was recently featured 13th on MIT Technology Review’s 50 Smartest Companies.