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- Genapsys
Genapsys Valuation, Funding & Investors
Genapsys is valued at $464M as of May 2021.
Last Genapsys valuation
$464M
Series D · May 2021
Last Genapsys funding round
$70M
Series D · May 2021
Cumulative funding Genapsys raised
$239M
across 5 funding rounds
Key investors in Genapsys
Decheng Capital
Casdin Capital
Foresite Capital
Farallon Capital Management
Soleus Capital
PBM Capital Group
About Genapsys
Genapsys is a genomics company delivering affordable, portable DNA sequencing systems from its Redwood City, California headquarters. Founded in 2010, it offers the GenapSys sequencer with 1.5-hour read times and cloud-based analysis for research and diagnostics. The platform supports applications in oncology, infectious disease, and agrigenomics, partnering with labs for scalable, low-cost sequencing under $1,000 per genome.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$464M (May 2021)
Genapsys Valuation
Genapsys is currently valued at $464M, based on its Series D in May 2021.
The $70M round was led by Farallon Capital Management, with participation from Soleus Capital and PBM Capital Group.
Genapsys' valuation has grown 14x from $34M at its Series A in March 2013 to $464M in May 2021, across 3 priced rounds.
Genapsys valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2021 | Series D | $464M |
| Nov 2019 | Series C | $895M |
| Mar 2013 | Series A | $34M |
Genapsys Funding History
Genapsys has raised a total of $239M across 5 funding rounds.
Genapsys' first fundraising round was a $9M Series A in March 2013. The most recent completed round was a $70M Series D in May 2021.
Genapsys funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2021 | Series D | Farallon Capital Management (lead); Soleus Capital; PBM Capital Group | $70M | $464M | GenapSys, based in Redwood City, CA, develops a scalable electronic sequencing platform using a proprietary electrical microfluidic sequencing chip to advance universal access to genomic information for academic and clinical research. The company raised $70 million in a Series D equity financing round on May 27, 2021, led by Farallon Capital Management, with participation from Soleus Capital, an affiliate of PBM Capital Group, and other new investors. This round achieved a post-money valuation of $463.55 million, with a price per share of $7.84. Funds were intended to advance its semiconductor-based next-generation sequencing (NGS) platform. The financing coincided with board expansions, appointing Bob Zollars and a Farallon representative. Jason Myers, Ph.D., served as CEO, with founder Hesaam Esfandyarpour as Chairman. This Series D followed earlier tranches, including a $28.5 million Series D in March 2021 and a prior Series C in 2019 that reached a peak post-money valuation of $895 million. GenapSys had also secured $75 million in debt financing from Oxford Finance in February 2020 and signed distribution agreements for 30 countries amid COVID-19 demand for sequencing. GenapSys products were for research use only, not diagnostics. The company faced delays in product release until fall 2019. Later, in September 2022, assets were sold to Sequence Health. |
| Nov 2019 | Series C | Foresite Capital (lead) | $90M | $895M | GenapSys, based in Redwood City, California, developed a genomic sequencing ecosystem aimed at academic and clinical research with a breakthrough electronic gene sequencer—the smallest and most affordable highly accurate device using first-of-its-kind technology to deliver results at a fraction of legacy costs. The company completed a $90 million Series C funding round in November 2019 led by Foresite Capital, achieving a post-money valuation of $895 million and bringing total funding to $166 million. The capital was allocated to commercialize the first-generation product, which became available for purchase around that time, expand the interdisciplinary team, and support ongoing innovation following extensive testing in leading genomics labs. Foresite Capital, managing over $2 billion in assets and focusing on data science-biology intersections, conducted thorough technical diligence before leading the round, citing belief in demand for high-accuracy, low-cost, portable sequencing to expand market access. The sequencer demonstrated exceptional performance in published studies on BioRxiv. Post-round, amid the COVID-19 pandemic starting March 2020, GenapSys secured two dozen distribution agreements across 30 countries, received outreach from Chinese authorities, and obtained $75 million debt financing from Oxford Finance in February 2020, highlighting sustained interest in its technology. Leadership transitioned in 2021 with founder Hesaam Esfandyarpour stepping down as CEO to chairman role, replaced by Jason Myers from ArcherDX. The company raised an additional $70 million Series D in May 2021 from Farallon Capital, PBM Capital Group, and Soleus Capital. Despite these developments, GenapSys filed for bankruptcy in July 2022 amid legal disputes, including claims by Foresite of misleading leadership and countersuits by Esfandyarpour over his ouster. |
| Jan 2018 | Series C | Casdin Capital | $33M | - | GenapSys is a genomic sequencing company developing semiconductor-based next-generation sequencing platforms. Additional Series D tranches totaling $41.5 million and $28.5 million are mentioned in later filings. |
| Nov 2013 | Series B | IPV Capital (lead); Decheng Capital | $38M | - | - |
| Mar 2013 | Series A | Decheng Capital (lead) | $9M | $34M | Genapsys is a Next Generation Sequencing (NGS) company founded in 2010 by Dr. Hesaam Esfandyarpour, incubated at the Stanford Genome Technology Center. The company developed the GENIUS 110 system, a fully integrated DNA sequencing platform designed to streamline sample preparation and reduce capital and operating expenses for genomic testing. In March 2013, Genapsys raised $8.49 million in Series A funding led by Decheng Capital at a post-money valuation of $33.97 million. The company continued to raise capital from leading venture investors, with a $37 million Series B round announced in November 2013 that included Yuri Milner, Stanford StartX Fund, and returning investors Decheng Capital and IPV Capital. |
Who has invested in Genapsys?
7 investors have backed Genapsys across its funding rounds, including Decheng Capital, Casdin Capital, Foresite Capital, Farallon Capital Management, Soleus Capital and PBM Capital Group.
Lead investors include Farallon Capital Management, Foresite Capital, IPV Capital and Decheng Capital.
Genapsys Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Mar 2013 | ||
| 1 | Lead | Nov 2013 | ||
| 1 | Participant | May 2021 | ||
| 1 | Participant | Jan 2018 | ||
| 1 | Lead | Nov 2019 | ||
This data is available for Pro users. Sign up to see all 7 Genapsys investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialGenapsys Competitors
Genapsys competitors include listed companies like Pacific Biosciences and Myriad Genetics, and private ones like Tasso, Clear Labs, Cellanome and Genesis Healthcare.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $160M | ($153M) | $429M | 5.6x | ||
| Private | - | - | $425M | - | ||
| Private | - | - | $413M | - | ||
| Private | - | - | $525M | - | ||
| Publicly listed | $825M | ($332M) | $396M | 0.6x | ||
| Private | - | - | $389M | - |
Genapsys Public Comps
Genapsys is still privately-owned, but its public comps include Pacific Biosciences, Prenetics Global, Myriad Genetics, Tauns Laboratories, Fulgent Genetics, Scribe Therapeutics, Abclon, Atrys Health, Genfit and ToolGen.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $160M | ($153M) | 5.6x | 5.6x | (5.9x) | (6.9x) | |||
| $92M | ($33M) | 3.2x | 1.6x | (9.0x) | (8.3x) | |||
| $825M | ($332M) | 0.6x | 0.6x | (1.5x) | (16.8x) | |||
| $120M | $58M | 3.9x | 5.0x | 8.1x | 12.9x | |||
| $323M | ($77M) | 1.1x | 1.1x | (4.5x) | (6.2x) | |||
| $51M | ($21M) | 14.2x | - | (34.0x) | - | |||
| $3M | ($12M) | 79.2x | - | (22.2x) | - | |||
| $162M | ($12M) | 2.3x | 2.1x | (30.2x) | 14.9x | |||
This data is available for Pro users. Sign up to see all Genapsys competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Genapsys
| When was Genapsys founded? | Genapsys was founded in 2010. |
| Where is Genapsys headquartered? | Genapsys is headquartered in San Francisco, CA, United States. |
| Is Genapsys publicly listed? | No, Genapsys is a private, VC-backed company. |
| What is Genapsys' valuation? | Genapsys was last valued at $464M in its Series D in May 2021. |
| How much funding has Genapsys raised? | Genapsys has raised $239M across 5 funding rounds. |
| What was Genapsys' last funding round? | Genapsys' last funding round was a $70M Series D in May 2021, led by Farallon Capital Management. |
| Who are Genapsys' investors? | Genapsys' investors include Decheng Capital, IPV Capital, Soleus Capital, Casdin Capital, Foresite Capital, PBM Capital Group and Farallon Capital Management. |
| Which companies are comparable to Genapsys? | Companies comparable to Genapsys include Pacific Biosciences, Tasso, Clear Labs, Cellanome, Myriad Genetics and Genesis Healthcare. |
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