Helix Funding, Investors & Competitors

Helix has raised $370M across 4 funding rounds, most recently a $50M Series C in June 2021.

See full Helix profile

Last Helix funding round

$50M

Series C · Jun 2021

Cumulative funding Helix raised

$370M

across 4 funding rounds

Key investors in Helix

  • Kleiner Perkins
  • Warburg Pincus
  • Temasek
  • Sutter Hill Ventures
  • DFJ Growth
  • Mayo Clinic
  • Illumina
  • Casdin Capital

Helix Overview

About Helix

Helix is a San Mateo-headquartered population genomics company operating one of the largest CLIA-certified next-generation sequencing labs in the United States. Its Exome+ assay sequences protein-coding regions plus regulatory elements for health systems, biopharma, and research organizations. Partnerships with Mayo Clinic and Intermountain Healthcare advance clinical genomics programs, including newborn screening, cancer predisposition testing, and pharmacogenomics integration into electronic health records.


Founded

2015

HQ

United StatesSan Francisco, CA

Website

helix.com

Status

Privately held

Customer focus

B2B

Revenue model

Services

Helix Funding History

Helix has raised a total of $370M across 4 funding rounds.

Helix's first fundraising round was a $100M Series A in August 2015. The most recent completed round was a $50M Series C in June 2021.

Helix funding rounds

Helix funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2021Series CWarburg Pincus (lead); Temasek; Kleiner Perkins; Mayo Clinic Ventures; DFJ Growth$50MHelix is a population genomics company operating at the intersection of clinical care, research, and genomics, providing an end-to-end platform that enables health systems, life sciences companies, and payers to advance genomic research and integrate genomic data into clinical care. Its platform is powered by one of the world's largest CLIA/CAP next-generation sequencing labs and the proprietary Exome+ assay, supporting recruitment, engagement, clinically actionable disease screening, return of results, and translational research. The company also offers COVID-19 testing and viral surveillance services. The company, founded in 2015 and headquartered in San Mateo, California, focuses on transforming healthcare through genetic testing and genomic insights via direct-to-consumer and B2B channels. On June 3, 2021, Helix closed a $50 million Series C funding round led by Warburg Pincus, with participation from existing investors DFJ Growth, Kleiner Perkins Caufield Byers, Mayo Clinic, and Temasek Holdings. Wilson Sonsini Goodrich & Rosati advised Temasek on the transaction. Proceeds from the $50 million raise are designated to accelerate Helix's population genomics platform across health systems, life sciences companies, and payers, as well as to support expanding COVID-19 testing and viral surveillance efforts. The platform follows a 'Sequence Once, Query Often' model, where an individual's DNA is sequenced and securely stored once for ongoing access to insights without additional samples. Helix's novel FDA pathway for its Helix Laboratory Platform facilitates partner development and market authorization for tests in areas like cancer, cardiovascular disease, and carrier screening. Helix had raised a total of approximately $283.9 million across four rounds by late 2021, including this Series C.
Mar 2018Series BDFJ Growth (lead); Temasek; Kleiner Perkins; Sutter Hill Ventures; Warburg Pincus; Illumina; Mayo Clinic$200MHelix is a San Carlos-based startup founded in 2015 that analyzes and stores customers’ genetic information online, positioning itself as a platform in the DNA sequencing supply chain. It operates a closed-loop system where partner companies build genetic testing applications on its platform, with tests priced at $10 to $200 and revenue-sharing arrangements with partners like National Geographic, Mayo Clinic, and Sema4. The company spun out from Illumina, its largest shareholder (less than 50%), which manufactures DNA-sequencing machines. In early 2018, Helix held the first close on a planned $200 million Series B funding round led by DFJ Growth, with participation from existing investors including Illumina, Kleiner Perkins, Sutter Hill Ventures, Warburg Pincus, and Mayo Clinic. This round brought Helix's total funding to at least $320 million, following a prior $120 million raise. CEO Robin Thurston highlighted the momentum in consumer genomics and plans to invest in building infrastructure and partnering with companies to develop services. Helix aims to democratize access to DNA data for developers while providing consumers secure management of their genomic information, analogous to an app store for genomics. Investors like DFJ Growth partner Barry Schuler praised its potential to spur innovation in personal genomics products. The DNA sequencing market is projected to reach $22 billion by 2025.
Oct 2017Undisclosed stageKleiner Perkins (lead); Casdin Capital$20M-
Aug 2015Series AIllumina (lead); Sutter Hill Ventures; LaunchCapital; Warburg Pincus; Mayo Clinic$100MHelix, a genomics company focused on providing consumers with insights into their genomes through a platform offering affordable sequencing, a secure database, and a marketplace for third-party DNA-powered applications, was launched on August 18, 2015, by Illumina, Warburg Pincus, and Sutter Hill Ventures with financing commitments exceeding $100 million. Illumina's CEO Jay Flatley served as board chairman, and the company planned to build a sequencing lab and begin accepting customers in 2016. Strategic partners included Mayo Clinic, which invested and collaborated on consumer education and health applications via its Center for Individualized Medicine, and LabCorp, which developed services for medically actionable genetic conditions. Illumina expected to consolidate Helix in its financial statements, with pro-rata impact already in 2015 guidance and anticipated $0.10 dilution to non-GAAP EPS in 2016. Helix positioned itself in the consumer genomics market, aiming to attract partners in genealogy, wellness, and inherited traits. The company operated a CLIA- and CAP-accredited NGS lab in San Diego powered by Illumina technology. Later rounds included a prior $120 million referenced in 2018 coverage and a $200 million Series B first close in March 2018 led by DFJ Growth with participation from founding investors, bringing total funding over $320 million.

Who has invested in Helix?

10 investors have backed Helix across its funding rounds, including Kleiner Perkins, Warburg Pincus, Temasek, Sutter Hill Ventures, DFJ Growth and Mayo Clinic.

Lead investors include Warburg Pincus, DFJ Growth, Kleiner Perkins and Illumina.


Helix Investors

Investors in Helix by funding rounds participated
InvestorHQRoundsRoleFirst check
Kleiner PerkinsUnited StatesSan Francisco, CA3LeadOct 2017
Warburg PincusUnited StatesNew York City, NY3LeadAug 2015
TemasekSingaporeSingapore2ParticipantMar 2018
Sutter Hill VenturesUnited StatesSan Francisco, CA2ParticipantAug 2015
DFJ GrowthUnited StatesSan Francisco, CA2LeadMar 2018
IlluminaUnited StatesSan Diego, CA2LeadAug 2015
Mayo ClinicUnited StatesRochester, MN2ParticipantAug 2015
Casdin CapitalUnited StatesNew York City, NY1ParticipantOct 2017

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Helix

Helix has acquired 1 company to date.

Last acquisition by Helix was on June 28th 2018. Helix acquired HumanCode for undisclosed valuation.


Latest Acquisitions by Helix

HumanCode
Description
HumanCode is a New York-based genomics company leveraging next-generation sequencing for personalized health insights via mobile platforms. Services decode human genome data to inform nutrition, fitness, and wellness decisions, blending genetic research with user-centered design.
HQ CountryUnited States
HQ City
Denver, CO
Deal Date28 Jun 2018
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Helix Competitors

Helix competitors include listed companies like CareDx, Illumina, 10x Genomics and BillionToOne, and private ones like MedGenome and BGI Group.

Public and private companies comparable to Helix
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CareDxUnited StatesUnited StatesPublicly listed$380M($10M)$2.8B5.3x
MedGenomeIndiaBangalorePrivate--$950M-
IlluminaUnited StatesUnited StatesPublicly listed$4.3B$1.4B$37B8.4x
10x GenomicsUnited StatesUnited StatesPublicly listed$643M($16M)$10B15.2x
BillionToOneUnited StatesUnited StatesPublicly listed$305M$12M$5.2B11.7x
BGI GroupChinaShenzhenPrivate--$1.6B-

Helix Public Comps

Helix is still privately-owned, but its public comps include Roche, Merck KGaA, Natera, IQVIA, Illumina, Guardant Health, Sartorius, Revvity, Solventum and Tempus AI.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Roche$77B$26B5.0x4.9x14.6x12.4x
Merck KGaA$24B$5.3B3.1x3.1x14.3x10.7x
Natera$2.3B($266M)22.5x19.0x(195.0x)(261.5x)
IQVIA$16B$3.4B3.6x3.4x17.2x14.8x
Illumina$4.3B$1.4B8.8x8.4x27.1x30.0x
Guardant Health$982M($408M)25.7x20.2x(61.8x)(129.5x)
Sartorius$4.1B$1.1B5.7x5.4x21.8x18.2x
Revvity$2.9B$735M6.5x6.6x25.4x21.0x

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Common questions about Helix

When was Helix founded?Helix was founded in 2015.
Where is Helix headquartered?Helix is headquartered in San Francisco, CA, United States.
Is Helix publicly listed?No, Helix is a private, VC-backed company.
How much funding has Helix raised?Helix has raised $370M across 4 funding rounds.
What was Helix's last funding round?Helix's last funding round was a $50M Series C in June 2021, led by Warburg Pincus.
Who are Helix's investors?Helix's investors include Kleiner Perkins, Warburg Pincus, Temasek, Sutter Hill Ventures, DFJ Growth, Illumina, Mayo Clinic, Casdin Capital, Mayo Clinic Ventures and LaunchCapital.
Which companies are comparable to Helix?Companies comparable to Helix include CareDx, MedGenome, Illumina, 10x Genomics, BillionToOne and BGI Group.
How many companies has Helix acquired?Helix has acquired 1 company, including HumanCode.

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