SOPHiA GENETICS Raises $110 Million in Oversubscribed New Funding Round
– SOPHiA GENETICS enters next stage of its global expansion with oversubscribed Series F round exceeding $110 million,
led by major health-tech fund and followed by strategic industry leader
– Company demonstrates solidity of its business model with banks joining in the round
– Didier Hirsch, former CFO at Agilent, joins the company’s Board of Directors and will chair its Audit Committee
Lausanne, SWITZERLAND – October 1, 2020: SOPHiA GENETICS, global leader in
Data-Driven Medicine, announced today the closing of a $110 million financing round
to enter into the next stage of its expansion, with a focus on supporting the growing
clinical and biopharma demand for Data-Driven Medicine worldwide.
This Series F round was led by aMoon, a leading health-tech & life sciences venture
fund based in Israel, and Hitachi Ventures, a venture arm of Japanese Hitachi Group.
The company also received the trust of prime financial institutions Credit Suisse and
the Pictet group. Existing investors Swisscom Ventures, Endeavour Vision,
Generation Investment Management, Alychlo, and Eurazeo Growth participated in
the round, as well as newcomers ACE & Company and Famille C Invest.
Having established the world’s largest Data-Driven Medicine community network
through its universal and collaborative AI platform, SOPHiA GENETICS supports
healthcare professionals by translating complex medical data into valuable clinical
insights. The SOPHiA Platform is used by over 1’000 healthcare institutions and has
analyzed 600’000 genomic profiles; up to 17’000 new profiles a month. Through
continual learning and network effects, experts worldwide are empowered to act
with confidence for better patient management.
The new funding round will boost the company’s penetration in both the US and
Asian markets. Proceeds will also be dedicated to increasing the platform
multimodal capabilities and its adoption by healthcare institutions worldwide.
Leveraging this momentum, SOPHiA GENETICS will be best positioned to power
biopharma’s effort to optimize and accelerate the development of new targeted
therapies.
As SOPHiA enters this new phase of rapid expansion, Didier Hirsch, former CFO at
Agilent and Board member at Logitech, joins the company’s Board of Directors. He
will also chair the company’s Audit Committee, ushering SOPHiA GENETICS toward
its next important milestones.
“From Switzerland to the global scale, SOPHiA GENETICS has been instrumental in
defining Data-Driven Medicine as we know it today,” said Didier Denat, Head
Corporate Banking Switzerland at Credit Suisse and Chairman of Credit Suisse
Entrepreneur Capital Ltd. “We are looking forward to seeing the company continue
to democratize it to the benefit of an ever-growing number of patients, as the
company further expands its presence worldwide.”
“SOPHiA GENETICS is a key player in the era of digital transformation we are now
entering, and we are happy to contribute to the development of a flagship company
in this ecosystem. Data-Driven Medicine is becoming a must in healthcare; it’s
therefore important to support a company such as SOPHiA, so that it can further its
decentralized approach based on knowledge-sharing in the best, most secure way,
for better outcomes,” said Dominique Mégret, Head of Swisscom Ventures.
“This is an exciting moment for SOPHiA GENETICS as the company enters the next
stage of its expansion,” added Fernando Pacheco, Investment Director of
Endeavour Vision. “Since its inception in Switzerland, it has built a leading position
in Europe and beyond to deliver state-of-the-art data-analytics combining multiple
sources of data. We look forward to seeing the company write the next chapter in
new areas of democratized Data-Driven Medicine on a global scale, increasing
patients’ access to high quality testing and actionable insights.”
“SOPHiA has established an impressive track record of disrupting healthcare and
enabling a decentralized approach. This new funding round will further strengthen
SOPHiA’s already unique offering, performance, and life-changing impact on
patients and targeted therapies,” said Troy Cox, Chairman of the Board of
Directors of SOPHiA GENETICS.
“Since inception, we knew that leveraging a wide range of data modalities powered
by cutting-edge technologies was key to sustainably deliver better outcomes to the
global healthcare community”, concluded Jurgi Camblong, CEO and Founder at
SOPHiA GENETICS. “Now, with this new funding round, we can embark on the next
stage of our development and take our collaborative approach further, delivering
intelligent medicine, together.”