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- Harbinger Health
Harbinger Health Funding, Investors & Competitors
Harbinger Health has raised $190M across 2 funding rounds, most recently a $140M Series B in September 2023.
Last Harbinger Health funding round
$140M
Series B · Sep 2023
Cumulative funding Harbinger Health raised
$190M
across 2 funding rounds
Key investors in Harbinger Health
Flagship Pioneering
Partners Investment
M&G Investments
Pictet Private Equity Investors S.A.
Modi Ventures
Catalyst
About Harbinger Health
Harbinger Health is a biotechnology company developing multi-cancer early detection tests using blood samples. Headquartered in Boston, Massachusetts, it employs artificial intelligence alongside cancer biology insights to identify disease signals prior to symptoms. The two-tier testing model aims for scalable, affordable screening across multiple cancer types.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Harbinger Health Funding History
Harbinger Health has raised a total of $190M across 2 funding rounds.
Harbinger Health's first fundraising round was a $50M Series A in December 2021. The most recent completed round was a $140M Series B in September 2023.
Harbinger Health funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2023 | Series B | Flagship Pioneering (lead); Catalyst; Pictet Private Equity Investors S.A.; M&G Investments; Partners Investment; Modi Ventures | $140M | Harbinger Health is a biotechnology company developing a proprietary two-tier, multi-cancer early detection platform using blood-based liquid biopsy tests combined with AI and machine learning to identify cancer at its earliest stages before symptoms appear. Founded by Flagship Pioneering after three years of research in its Labs unit, the company launched in 2020 with an initial $50 million commitment from Flagship and has since raised approximately $190 million in total funding. On September 28, 2023, Harbinger Health announced a $140 million Series B financing round led by founder Flagship Pioneering, with participation from new global institutional investors including Pictet Private Equity Investors S.A., Partners Investment, Catalyst (M&G Investments’ purpose-led private assets strategy), and Modi Ventures. The funding will accelerate advancement of Harbinger's screening platform, including completion of the ongoing CORE-HH clinical study (10,000+ participants, primary completion December 2023), initiation of additional trials in high-risk populations, expansion of data science and commercial teams, and global scaling of its patented two-tier testing model for performance, accessibility, and cost optimization. The company envisions shifting cancer management from treatment of advanced disease to prevention and early intervention. Harbinger has achieved clinical milestones such as data presentations on platform performance and key executive hires. It plans to launch a laboratory-developed test in 2025. |
| Dec 2021 | Series A | Flagship Pioneering (lead) | $50M | Harbinger Health is a bioplatform company pioneering early cancer detection through a simple blood test that integrates artificial intelligence, machine learning, and insights into early cancer biology. Founded in Flagship Labs in 2018 and launched from stealth on December 7, 2021, the company develops the proprietary HarbingerHx platform for liquid biopsy tests and software to identify cancer before it becomes visible or symptomatic, enabling early interventions. Flagship Pioneering provided an initial commitment of $50 million to Harbinger Health upon its public launch, marking the specified funding round led solely by Flagship. Stephen Hahn, M.D., former FDA Commissioner and Chief Medical Executive of MD Anderson Cancer Center, was appointed CEO at launch and became a Flagship CEO-Partner. The funding supports development of blood-based multi-cancer screening tests, including studies with high-risk populations, data science expansion, and commercial team buildout. Harbinger aims to make cancer screening routine, affordable, and accessible, potentially transforming oncology from late-stage treatment to preemptive detection. By a later Series B in approximately 2024, Harbinger raised $140 million from Flagship Pioneering and new investors including Pictet, Partners Investment, and M&G Investments’ Catalyst fund, bringing total funding close to $200 million. The company continues advancing its platform, with ongoing validation studies involving 10,000 participants and plans for disease-specific tests. In August 2025, Ajit Singh, Ph.D., a diagnostics veteran from Siemens, was appointed CEO, succeeding Hahn who transitioned to CEO Emeritus; Singh had been a board member since 2024. |
Who has invested in Harbinger Health?
6 investors have backed Harbinger Health across its funding rounds, including Flagship Pioneering, Partners Investment, M&G Investments, Pictet Private Equity Investors S.A., Modi Ventures and Catalyst.
Lead investors include Flagship Pioneering.
Harbinger Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Dec 2021 | ||
| 1 | Participant | Sep 2023 | ||
| 1 | Participant | Sep 2023 | ||
| 1 | Participant | Sep 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialHarbinger Health Competitors
Harbinger Health competitors include listed companies like Roche, Natera, Illumina and Guardant Health, and private ones like Institut Merieux and Color.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $77B | $26B | $351B | 4.9x | ||
| Publicly listed | $2.3B | ($266M) | $53B | 19.0x | ||
| Publicly listed | $4.3B | $1.4B | $37B | 8.4x | ||
| Publicly listed | $982M | ($408M) | $25B | 20.2x | ||
| Private | - | - | $8.5B | - | ||
| Private | - | - | $4.6B | - |
Harbinger Health Public Comps
Harbinger Health is still privately-owned, but its public comps include Roche, Natera, Illumina, Guardant Health, Twist Bioscience, 10x Genomics, BillionToOne, Wantai BioPharm, Celcuity and GRAIL.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $2.3B | ($266M) | 22.5x | 19.0x | (195.0x) | (261.5x) | |||
| $4.3B | $1.4B | 8.8x | 8.4x | 27.1x | 30.0x | |||
| $982M | ($408M) | 25.7x | 20.2x | (61.8x) | (129.5x) | |||
| $377M | ($63M) | 27.2x | 22.6x | (161.4x) | (316.8x) | |||
| $643M | ($16M) | 14.9x | 15.2x | (591.7x) | (160.9x) | |||
| $305M | $12M | 15.8x | 11.7x | 401.1x | 75.4x | |||
| $271M | ($24M) | 15.5x | - | (174.0x) | - | |||
This data is available for Pro users. Sign up to see all Harbinger Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Harbinger Health
| When was Harbinger Health founded? | Harbinger Health was founded in 2018. |
| Where is Harbinger Health headquartered? | Harbinger Health is headquartered in United States. |
| Is Harbinger Health publicly listed? | No, Harbinger Health is a private, VC-backed company. |
| How much funding has Harbinger Health raised? | Harbinger Health has raised $190M across 2 funding rounds. |
| What was Harbinger Health's last funding round? | Harbinger Health's last funding round was a $140M Series B in September 2023, led by Flagship Pioneering. |
| Who are Harbinger Health's investors? | Harbinger Health's investors include Flagship Pioneering, Catalyst, Pictet Private Equity Investors S.A., M&G Investments, Partners Investment and Modi Ventures. |
| Which companies are comparable to Harbinger Health? | Companies comparable to Harbinger Health include Roche, Natera, Illumina, Guardant Health, Institut Merieux and Color. |
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