- Companies
- Deep Genomics
Deep Genomics Funding, Investors & Competitors
Deep Genomics has raised $237M across 4 funding rounds, most recently a $180M Series C in July 2021.
Last Deep Genomics funding round
$180M
Series C · Jul 2021
Cumulative funding Deep Genomics raised
$237M
across 4 funding rounds
Key investors in Deep Genomics
True Ventures
Khosla Ventures
Amplitude Venture Capital
Magnetic Ventures
SoftBank Group
Fidelity
Alexandria Venture Investments
Bloomberg Beta
About Deep Genomics
Deep Genomics is a Toronto-based genomics company applying deep learning to interpret genetic variants and design precision therapies for rare diseases. The firm analyzes whole-genome sequencing data with AI models trained on millions of variants to prioritize drug targets in neurology and cardiology. Deep Genomics advances oligonucleotide therapeutics through its Automation Factory platform, partnering with biopharma for clinical candidates.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Deep Genomics Funding History
Deep Genomics has raised a total of $237M across 4 funding rounds.
Deep Genomics' first fundraising round was a $4M seed round in November 2015. The most recent completed round was a $180M Series C in July 2021.
Deep Genomics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2021 | Series C | SoftBank Group (lead); Fidelity; Alexandria Venture Investments; Amplitude Venture Capital; Magnetic Ventures; CPP Investments; Khosla Ventures; True Ventures | $180M | Deep Genomics, a Toronto-based AI therapeutics company, raised $180 million USD ($226 million CAD) in an oversubscribed Series C financing round on July 28, 2021, led by SoftBank Vision Fund 2, with participation from new investors CPP Investments, Fidelity Management & Research Company LLC, and Alexandria Venture Investments, alongside existing investors Amplitude Ventures, Khosla Ventures, Magnetic Ventures, and True Ventures. The all-equity round, which included a minor secondary component under $10 million CAD, brought the company's total funding to approximately $302 million CAD ($240 million USD). The proceeds aim to scale its AI-driven drug discovery platform for programmable RNA therapeutics targeting genetic diseases, expand preclinical programs to over 30 with 80 additional patents, evaluate more than 100 genes in wet labs, initiate first human drug trials that fall, and grow headcount from 75 to 160 by end-2022 while researching complex diseases. Deep Genomics leverages deep learning and machine learning to analyze billions of molecules, enabling geneticists, chemists, and biologists to design effective and safe RNA therapeutics for any gene mutation. Key milestones include its first AI-discovered drug candidate for Wilson disease in 2019, ahead of pharmaceutical giants, and partnerships like one with BioMarin Pharmaceutical for four rare diseases. The platform converts complex biology into 'informational medicines,' positioning the company to automate drug discovery and commercialization expected by 2028. CEO Brendan Frey envisions Deep Genomics scaling to a $50-100 billion company, attracting long-term investors like SoftBank, whose Investment Director Elena Viboch joined the board. The round underscores investor confidence in Deep Genomics' pioneering integration of AI, software engineering, and genomics amid a wave of similar biotech financings, such as PathAI's $165 million and Insitro's $400 million in 2021. |
| Jan 2020 | Series B | Future Ventures (lead); Amplitude Venture Capital; Magnetic Ventures; Khosla Ventures; True Ventures; NJF Capital | $40M | Deep Genomics is an artificial intelligence therapeutics company developing individualized genetic medicines using AI and machine learning to discover and prioritize novel therapies for rare and common genetic diseases, including RNA therapeutics. The company closed its Series B financing round on January 7, 2020, raising $40 million led by Future Ventures, with participation from Amplitude Ventures, Khosla Ventures, Magnetic Ventures, and True Ventures. Proceeds were allocated to expand its proprietary AI discovery platform, develop new technology for AI-accelerated therapeutic development, and advance its Wilson disease program into clinical trials, with plans to file two INDs in 2020 and obtain Phase 1/2 data for Wilson disease in 2021. Deep Genomics' AI platform has demonstrated efficiency, with 90 percent of research projects leading to therapeutic leads and programs advancing from target discovery to drug candidate in under 12 months. The Series B built on prior funding, supporting a pipeline focused on genetic diseases through AI-driven target identification and drug development. Subsequently, Deep Genomics raised a $180 million oversubscribed Series C in July 2021 led by SoftBank Vision Fund 2, with participation from CPP Investments, Fidelity Management & Research Company LLC, Alexandria Venture Investments, and existing investors including Amplitude Ventures, Khosla Ventures, Magnetic Ventures, and True Ventures. The Series C funded expansion of the AI platform for programmable RNA therapeutics, scaling the pipeline to 30 programs, large-scale data generation across 100 genes, and advancing four programs into the clinic by 2023. |
| Sep 2017 | Series A | Khosla Ventures (lead); True Ventures; Silicon Valley Ventures | $13M | Deep Genomics, an AI therapeutics company founded in 2015 and based in Toronto, Canada, raised $13 million in a Series A equity financing round on September 25, 2017. The round was led by Khosla Ventures with participation from True Ventures. The company uses an AI platform to discover and develop genetic medicines, specifically unlocking new classes of antisense oligonucleotide therapies previously inaccessible and advancing them toward clinical evaluation. Funds were allocated to expand the platform over the next three years. At the time, Deep Genomics had a team of 20 and planned to double its staff, focusing on scientific experts, while operating from Toronto’s MaRS Discovery District as part of JLABS. |
| Nov 2015 | Seed | True Ventures (lead); Bloomberg Beta; 11.2 Capital | $4M | Deep Genomics closed a $3.7 million seed financing round on November 18, 2015, led by True Ventures with participation from Bloomberg Beta and other global angel investors. The Toronto-based startup, founded on technology from Brendan Frey’s lab at the University of Toronto, applies deep learning to analyze hundreds of millions of genetic mutations to identify those causing disease. The team had published nearly 50 papers since 2003 on related research. The funding supported growing the team of machine learning and genome biology experts and further developing and validating the proprietary deep learning technology. This advanced capabilities to predict consequences of genomic alterations on cell mechanisms, targeting applications in diagnostics, personalized medicine, and pharmaceuticals. Partners at the time included Human Longevity, SynapDx, and the Toronto Center for Applied Genomics. Deep Genomics positioned its approach to shift the genomic medicine landscape through experimental testing with hospitals, biotech startups, and pharma companies. |
Who has invested in Deep Genomics?
13 investors have backed Deep Genomics across its funding rounds, including True Ventures, Khosla Ventures, Amplitude Venture Capital, Magnetic Ventures, SoftBank Group and Fidelity.
Lead investors include SoftBank Group, Future Ventures, Khosla Ventures and True Ventures.
Deep Genomics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Nov 2015 | ||
| 3 | Lead | Sep 2017 | ||
| 2 | Participant | Jan 2020 | ||
| 2 | Participant | Jan 2020 | ||
| 1 | Lead | Jan 2020 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Nov 2015 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jan 2020 | ||
This data is available for Pro users. Sign up to see all 13 Deep Genomics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialDeep Genomics Competitors
Deep Genomics competitors include listed companies like Roche, Johnson & Johnson, Merck KGaA and Natera, and private ones like Heyuan Biotechnology and Applied Intuition.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $77B | $26B | $351B | 4.9x | ||
| Private | - | - | $3B | - | ||
| Publicly listed | $94B | $40B | $651B | 6.8x | ||
| Publicly listed | $24B | $5.3B | $66B | 3.1x | ||
| Publicly listed | $2.3B | ($266M) | $53B | 19.0x | ||
| Private | $415M | - | $15B | 36.1x |
Deep Genomics Public Comps
Deep Genomics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Palantir, Merck, Roche, Novartis, AstraZeneca, Amgen and Novo Nordisk.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65B | $28B | 16.5x | 13.1x | 38.7x | 27.0x | |||
| $94B | $40B | 7.2x | 6.8x | 17.0x | 18.3x | |||
| $61B | $17B | 8.7x | 8.1x | 30.6x | 17.6x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $65B | $28B | 6.3x | 6.2x | 14.7x | 21.0x | |||
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $57B | $22B | 5.5x | 5.5x | 14.2x | 13.3x | |||
| $59B | $19B | 4.8x | 4.5x | 14.6x | 12.7x | |||
This data is available for Pro users. Sign up to see all Deep Genomics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Deep Genomics
| When was Deep Genomics founded? | Deep Genomics was founded in 2014. |
| Where is Deep Genomics headquartered? | Deep Genomics is headquartered in Toronto, Canada. |
| Is Deep Genomics publicly listed? | No, Deep Genomics is a private, VC-backed company. |
| How much funding has Deep Genomics raised? | Deep Genomics has raised $237M across 4 funding rounds. |
| What was Deep Genomics' last funding round? | Deep Genomics' last funding round was a $180M Series C in July 2021, led by SoftBank Group. |
| Who are Deep Genomics' investors? | Deep Genomics' investors include True Ventures, Khosla Ventures, Amplitude Venture Capital, Magnetic Ventures, Future Ventures, Fidelity, SoftBank Group, Alexandria Venture Investments, Bloomberg Beta, CPP Investments and 3 others. |
| Which companies are comparable to Deep Genomics? | Companies comparable to Deep Genomics include Roche, Heyuan Biotechnology, Johnson & Johnson, Merck KGaA, Natera and Applied Intuition. |
See companies similar to Deep Genomics
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




