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- Element Biosciences
Element Biosciences Revenue, Valuation, Funding & Investors
Element Biosciences is valued at $1B as of July 2024, a 41.2x multiple on its last reported $25M revenue.
Last Element Biosciences valuation
$1B
Series D · Jul 2024
Last Element Biosciences funding round
Series E
Amount undisclosed · Jun 2026
Element Biosciences revenue
$25M
Series D · Jul 2024
Key investors in Element Biosciences
Venrock
Foresite Capital
Fidelity
RA Capital Management
T. Rowe Price
Samsung
About Element Biosciences
Element Biosciences is a San Diego-based life sciences company building next-generation DNA sequencing instruments. The AVITI platform delivers high-accuracy reads using avidity sequencing chemistry, reducing costs through improved signal-to-noise ratios in surface chemistry and biochemistry. Launched in 2022, it supports workflows from short-read to long-read applications for genomics research. Element Biosciences serves academic labs, biopharma, and clinical sequencing markets worldwide.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Revenue
$25M (Jul 2024)
Valuation
$1B (Jul 2024)
Element Biosciences Valuation
Element Biosciences is currently valued at $1B, based on its Series D in July 2024.
The $277M round was led by Wellington Management, with participation from Samsung, Fidelity, Foresite Capital, T. Rowe Price and Venrock.
Element Biosciences valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2024 | Series D | $1B | 41.2x |
Element Biosciences Revenue
Element Biosciences' latest recorded revenue is $25M, as of its Series D in July 2024. At a $1B valuation, that implies a 41.2x revenue multiple.
Element Biosciences revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2024 | $25M | $1B | 41.2x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Element Biosciences Funding History
Element Biosciences has raised a total of $678M across 6 funding rounds.
Element Biosciences' first fundraising round was a $15M Series A in June 2019. The most recent completed round was a Series E in June 2026.
Element Biosciences funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series E | Samsung (lead) | - | - | - |
| Jul 2024 | Series D | Wellington Management (lead); Samsung; Fidelity; Foresite Capital; T. Rowe Price; Venrock | $277M | $1B | Element Biosciences is a San Diego-based biotechnology company developing disruptive DNA sequencing and multi-omics technologies for research markets. The company innovates on fundamental elements of sequencing systems to lower costs, improve quality, and enhance user experience. Their primary product, AVITI, is a mid-throughput benchtop DNA sequencer sold primarily to academic and biotech labs, generating revenue through instrument placements, consumables, and service contracts. The company is preparing to launch AVITI24, an integrated biology platform combining state-of-the-art sequencing and cyto-profiling to enable simultaneous examination of DNA, RNA, proteins, phosphoproteins, and cell structure within single cells. On July 11, 2024, Element Biosciences closed a Series D funding round raising over $277 million at a post-money valuation of $1.03 billion. The oversubscribed round was led by Wellington Management with participation from new investor Samsung Electronics and returning investors including Fidelity, Foresite Capital, funds advised by T. Rowe Price Associates, and Venrock. The funding was designated to support commercialization of AVITI and bolster the upcoming launch of AVITI24. This round brought Element's cumulative funding to over $680 million across multiple rounds. According to Wellington Management, the company's platform combines quality, cost, and flexibility advantages that disrupt the incumbent pricing curve and has potential to accelerate biological discovery by bringing integrated multi-omic workflows onto a single system. |
| Jun 2021 | Series C | Venrock (lead); JS Capital Management; Fidelity; Janus Henderson; Counterpoint Global; Foresite Capital; T. Rowe Price; Logos Capital; RA Capital Management; Meritech Capital Partners | $276M | - | Element Biosciences raised $276 million in its Series C funding round in June 2021, matching the specified date, investors including Venrock as lead, and other participants like Counterpoint Global, Fidelity, Foresite Capital, Janus Henderson Investors, JS Capital Management, Logos Capital, Meritech Capital Partners, RA Capital Management, and T. Rowe Price. The company develops disruptive DNA sequencing technology for research and diagnostic markets, founded in 2017 and headquartered in San Diego, California. Total funding across rounds reached $648.3M by later Series D in July 2024 for $277M with overlapping investors. |
| Jun 2020 | Series B | Alexandria Venture Investments; RA Capital Management | $30M | - | Element Biosciences is a life sciences company founded in 2017 that develops DNA sequencing and multi-omics technology for biosciences research. The company's proprietary technology platform is called the AVITI system, which aims to provide high-quality sequencing at lower cost than alternative methods. In June 2020, Element Biosciences raised an additional $30 million in Series B financing with participation from new investors RA Capital Management and Alexandria Venture Investments, bringing total funding raised to over $130 million at that time. The Series B proceeds were directed toward accelerating the development of the new DNA sequencing platform. The company has continued to grow significantly, raising $277 million in Series D funding in July 2024, at which point it achieved a $1.0 billion valuation, demonstrating strong investor confidence in its sequencing technology platform and commercial prospects. |
| Jan 2020 | Series B | JSCapital; Fidelity; Foresite Capital; Venrock | $80M | - | Element Biosciences, a DNA sequencing technology company founded in 2017, raised $80.3 million in an initial Series B financing round announced around September 2020, with participation from new investors Fidelity Management & Research Company and JS Capital LLC, as well as existing investors Foresite Capital and Venrock. Proceeds were allocated to accelerate development of high-quality, low-cost, and easy-to-use genomic sequencing solutions, focusing on innovations in surface chemistry, sequencing chemistry, detection, and data analysis to build a flexible, modular sequencing platform. At the time, Element operated from a new 30,000-square-foot headquarters in San Diego's University Towne Center and planned team expansion in San Diego and the San Francisco Bay Area. CEO and co-founder Molly He emphasized the company's disruptive vision for an open, collaborative genomics research ecosystem. Chairman John Stuelpnagel highlighted the team's courage and creativity in rebuilding sequencing platforms beyond traditional tool companies. Later in the Series B, Element raised an additional $30 million from RA Capital Management and Alexandria Venture Investments, increasing total funding to over $130 million for further platform development. Element has since progressed significantly, launching products like the AVITI benchtop DNA sequencer and raising larger rounds, including a $277 million Series D in July 2024 led by Wellington Management with participation from Fidelity, Foresite Capital, Venrock, and others, bringing cumulative funding over $680 million to support commercialization and multi-omics advancements like AVITI24. |
| Jun 2019 | Series A | Foresite Capital (lead); Venrock (lead) | $15M | - | Element Biosciences is a life science company developing disruptive DNA sequencing technology for research and diagnostic markets. Founded in 2017 and headquartered in San Diego, California, the company focuses on genetic analysis tools designed to improve data quality and simplify workflows for research and diagnostic applications. In June 2019, Element Biosciences raised $15 million in its Series A funding round led by Foresite Capital and Venrock. The company subsequently raised additional capital, growing to $648.3 million in total funding across multiple rounds including Series B ($80 million in January 2020 and $30 million in June 2020), Series C ($276 million in June 2021), and Series D ($277 million in July 2024). By 2024, the company had grown to approximately 483 employees and was generating estimated revenue of $127.8 million annually, demonstrating significant traction in the genomics and life science technology sector. |
Who has invested in Element Biosciences?
14 investors have backed Element Biosciences across its funding rounds, including Venrock, Foresite Capital, Fidelity, RA Capital Management, T. Rowe Price and Samsung.
Lead investors include Samsung, Wellington Management, Venrock and Foresite Capital.
Element Biosciences Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2019 | ||
| 4 | Lead | Jun 2019 | ||
| 3 | Participant | Jan 2020 | ||
| 2 | Lead | Jul 2024 | ||
| 2 | Participant | Jun 2021 | ||
| 2 | Participant | Jun 2020 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jan 2020 | ||
| 1 | Lead | Jul 2024 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
This data is available for Pro users. Sign up to see all 14 Element Biosciences 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 TrialAcquisitions by Element Biosciences
Element Biosciences has acquired 1 company to date.
Last acquisition by Element Biosciences was on February 7th 2022. Element Biosciences acquired Loop Genomics for undisclosed valuation.
Latest Acquisitions by Element Biosciences
| Description | Loop Genomics is a Pasadena-headquartered biotech firm converting short-read sequencers into long-read platforms using LoopSeq barcoding chemistry. The technology assembles full-length 16S rRNA for microbiome profiling, HLA alleles for transplants, and viral quasispecies for drug resistance mapping. LoopSeq kits process samples on Illumina MiSeq with 99% phasing accuracy. Founded in 2017, it serves labs at Broad Institute and Mayo Clinic. |
| HQ Country | |
| HQ City | San Jose, CA |
| Deal Date | 7 Feb 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Element Biosciences acquisitions and their M&A valuation multiples. Start Free Trial | |
Element Biosciences Competitors
Element Biosciences competitors include listed companies like Sansure Biotech and Vazyme Biotech, and private ones like Immunai, Mammoth Biosciences, Nordic Bioscience and Sangon Biotech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $245M | $48M | $1.4B | 4.1x | ||
| Private | $102M | - | $1.4B | 13.7x | ||
| Publicly listed | $205M | $18M | $1.6B | 6.0x |
Element Biosciences Public Comps
Element Biosciences is still privately-owned, but its public comps include SEEGENE, Castle Biosciences, Bide Pharmatech Co, Novogene, Eckert & Ziegler, OPKO Health, CryoPort, VCANBIO, SOPHiA Genetics and Sansure Biotech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $345M | $85M | 2.3x | 2.1x | 9.2x | 7.7x | |||
| $344M | ($429K) | 2.6x | 2.5x | (2082.6x) | 44.9x | |||
| $197M | $33M | 3.8x | 3.5x | 22.7x | - | |||
| $329M | $50M | 1.9x | 1.9x | 12.5x | 13.5x | |||
| $359M | $105M | 2.2x | 2.2x | 7.5x | 7.4x | |||
| $607M | ($56M) | 2.2x | 2.3x | (23.3x) | (11.2x) | |||
| $176M | ($2M) | 4.2x | 3.9x | (349.1x) | (974.7x) | |||
| $217M | $44M | 4.6x | 4.3x | 22.8x | 25.1x | |||
This data is available for Pro users. Sign up to see all Element Biosciences competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Element Biosciences
| When was Element Biosciences founded? | Element Biosciences was founded in 2017. |
| Where is Element Biosciences headquartered? | Element Biosciences is headquartered in San Diego, CA, United States. |
| Is Element Biosciences publicly listed? | No, Element Biosciences is a private, VC-backed company. |
| What is Element Biosciences' valuation? | Element Biosciences was last valued at $1B in its Series D in July 2024. |
| How much funding has Element Biosciences raised? | Element Biosciences has raised $678M across 6 funding rounds. |
| What was Element Biosciences' last funding round? | Element Biosciences' last funding round was a Series E in June 2026, led by Samsung. |
| Who are Element Biosciences' investors? | Element Biosciences' investors include Foresite Capital, Venrock, Fidelity, Samsung, T. Rowe Price, RA Capital Management, JS Capital Management, JSCapital, Wellington Management, Alexandria Venture Investments and 4 others. |
| What is Element Biosciences' revenue? | Element Biosciences' latest recorded revenue is $25M (July 2024). |
| What is Element Biosciences' revenue multiple? | Element Biosciences' latest valuation implies a 41.2x revenue multiple ($1B valuation on $25M of revenue). |
| Which companies are comparable to Element Biosciences? | Companies comparable to Element Biosciences include Immunai, Mammoth Biosciences, Nordic Bioscience, Sansure Biotech, Sangon Biotech and Vazyme Biotech. |
| How many companies has Element Biosciences acquired? | Element Biosciences has acquired 1 company, including Loop Genomics. |
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