Health technology organization Color today reported a $167 million Series D fundraising round that values the organization at $1.5 billion.
Health technology organization Color today reported a $167 million Series D fundraising round that values the organization at $1.5 billion.
The financing round, which carries the startup’s complete subsidizing to $278 million, was driven by adventure firm General Catalyst with interest from Viking Global Investors and assets oversaw by T. Rowe Price. Viking and T. Rowe additionally partook in a January 2020 subsidizing round that raised $75 million.
Color has not revealed a valuation with ongoing rounds, making this the primary authority affirmation that the organization is a “unicorn,” a casual industry term for a private startup worth over $1 billion.
Color was established in 2015 with an attention on quality testing. The organization utilizes hereditary information to prompt patients about acquired health chances and associates them to health guides to assist them with reacting those dangers. Rather than retail benefits like 23andMe, Color works straightforwardly with businesses, associations, and governments to offer types of assistance to constituents. Color’s customers currently incorporate the Teamsters Union, the National Institutes of Health, Salesforce, and the State of California.
Color is currently expanding on the telehealth and health information the board highlights of its genomics administrations to make something all the more comprehensive. “We are building the rails for a national technology-based public health infrastructure,” Color CEO Othman Laraki said in an assertion, refering to the pained reaction to COVID-19 as proof for the requirement for “modern public health infrastructure.” Laraki didn’t refer to the U.S. expressly in his appraisal, however the decentralized U.S. health system has indicated specific delicacy during the pandemic.
Likewise with numerous other telehealth and health innovation organizations, the Covid pandemic has been an impetus for development and change at Color. During the pandemic, Color built up its own COVID test, which got crisis FDA approval in July and is prominent for being approved for individual at-home use. Color says it currently oversees COVID testing programs for in excess of 100 significant managers and colleges.
Likewise eminent in the present declaration was the recruiting of Emily Reuter as VP of system and activities. Reuter was earlier head of financial specialist relations for Uber and dealt with the ride-hailing organization’s IPO. That recommends Color could be intending to open up to the world, however the organization has not examined those plans freely.
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