Strata Oncology Valuation, Funding & Investors
Strata Oncology is valued at $79M as of May 2018.
Last Strata Oncology valuation
$79M
Series B · May 2018
Last Strata Oncology funding round
$90M
Series C · Jul 2021
Cumulative funding Strata Oncology raised
$128M
across 3 funding rounds
Key investors in Strata Oncology
Baird Capital
Arboretum Ventures
Pfizer Venture Investments
Merck Global Health Innovation Fund
Renaissance Venture Capital
Wellington Management
About Strata Oncology
Strata Oncology is an Ann Arbor, Michigan-headquartered precision oncology platform connecting cancer patients to molecularly matched clinical trials nationwide. Its 1M Strata Select assay screens tumors for biomarkers, facilitating enrollment for biopharma sponsors like Pfizer and Merck at over 20 partner health systems.
Founded
2016
HQ
Ann Arbor, MIWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Valuation
$79M (May 2018)
Strata Oncology Valuation
Strata Oncology is currently valued at $79M, based on its Series B in May 2018.
The $26M round was led by Pfizer Venture Investments, with participation from Deerfield Capital Management, Renaissance Venture Capital, Baird Capital, Merck Global Health Innovation Fund and Arboretum Ventures.
Strata Oncology valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2018 | Series B | $79M |
Strata Oncology Funding History
Strata Oncology has raised a total of $128M across 3 funding rounds.
Strata Oncology's first fundraising round was a $12M Series A in June 2016. The most recent completed round was a $90M Series C in July 2021.
Strata Oncology funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series C | Wellington Management (lead); Pfizer Venture Investments; Renaissance Venture Capital; Baird Capital; Merck Global Health Innovation Fund; Arboretum Ventures; Monashee Investment Management; Highline Capital Management; Cormorant Asset Management; Deerfield | $90M | - | Strata Oncology is a precision oncology company advancing molecular indications for cancer therapies through comprehensive genomic and transcriptomic profiling. The company's platform integrates comprehensive genomic profiling with highly quantitative RNA expression profiling to deliver treatment selection tests for solid tumors, including its personalized minimal residual disease (MRD) assay for early-stage cancers and RNA-based treatment selection tests. On July 28, 2021, Strata Oncology completed a $90 million Series C financing round led by Wellington Management, with participation from new investors Cormorant Asset Management, Monashee Investment Management, and Highside Capital Management, as well as existing investors Pfizer Ventures, Merck Global Health Innovation Fund, Arboretum Ventures, Deerfield Management, Baird Capital, and Renaissance Venture Capital Fund. J.P. Morgan served as sole placement agent. The round brought total financing to over $130 million since inception, with proceeds allocated to accelerate development of the MRD assay and advance the pipeline of RNA-based treatment selection tests. In a study presented at the 2021 American Society of Clinical Oncology Annual Meeting, Strata Oncology demonstrated its platform's ability to identify new multifactorial biomarkers predicting immune checkpoint inhibitor response, including identifying 12% of patients across cancer types who might benefit from Merck's Keytruda but were not included in approved indications. The company had also forged partnerships with Pfizer for the Strata PATH trial to validate biomarkers and improve clinical trial recruitment for immunotherapy indications beyond current FDA approvals. |
| May 2018 | Series B | Pfizer Venture Investments (lead); Deerfield Capital Management; Renaissance Venture Capital; Baird Capital; Merck Global Health Innovation Fund; Arboretum Ventures | $26M | $79M | Strata Oncology is a precision oncology platform company based in Ann Arbor, Michigan, developing tools like the StrataNGS tumor molecular profiling assay, which includes actionable DNA and RNA biomarkers, tumor mutational load, and covers about 90 cancer genes. The company operates the Strata Precision Oncology Network, partnering with leading health systems to systematize tumor molecular profiling, precision therapy trials, and streamline workflows for health systems and biopharma research. In May 2018, Strata closed a $26 million Series B funding round led by Pfizer Venture Investments, with participation from Merck Global Health Innovation Fund, Deerfield Management, Renaissance Venture Capital Fund, and existing investors Arboretum Ventures and Baird Capital. The funding supports expansion of the Strata Precision Oncology Network to more health systems, further development of clinical-genomic data and software solutions, FDA submission for StrataNGS (anticipated early 2019), and launch of the PATH study, a master therapeutic protocol for rapid indication expansion of on-market pharma drugs. By December 2018, five additional healthcare systems joined the Network, enabling routine tumor profiling for over 70,000 analytic cancer cases annually across more than 50 hospitals, aiming to profile 25,000 advanced cancer patients yearly and accelerate precision trial enrollment. Strata partners with oncology-focused contract research organizations to scale efficiency with drug companies. This Series B followed a $12 million Series A in June 2016 led by Baird Capital. Subsequent rounds included a Series C of $90 million in July 2021 with investors like Wellington Management, Cormorant Asset Management, and others from the Series B, plus a debt round of $6.14 million in November 2024. Total funding raised across rounds reached approximately $139 million by recent estimates, positioning Strata to advance precision oncology through integrated profiling, trials, and data solutions. |
| Jun 2016 | Series A | Arboretum Ventures (lead); Baird Capital (lead); eLab Ventures | $12M | - | Strata Oncology, a precision medicine company based in Ann Arbor, Michigan, completed a $12 million Series A financing in June 2016 co-led by Arboretum Ventures and Baird Capital, with participation from existing investor Michigan eLab. The funding supports the company's state-of-the-art tumor sequencing operations and the launch of the Strata Trial, a nationwide initiative to provide no-cost tumor sequencing for 100,000 cancer patients and match them to precision medicine clinical trials based on tumor genetic profiles. Strata plans to focus initially on solid tumors and is in discussions with about 20 undisclosed pharmaceutical companies developing targeted therapies. The company was co-founded in 2015 by Dan Rhodes, former CEO of Compendia Bioscience (acquired by Life Technologies in 2012), oncologist Keith Flaherty from Harvard Medical School and Massachusetts General, and pathologist Scott Tomlins from the University of Michigan Medical School. |
Who has invested in Strata Oncology?
12 investors have backed Strata Oncology across its funding rounds, including Baird Capital, Arboretum Ventures, Pfizer Venture Investments, Merck Global Health Innovation Fund, Renaissance Venture Capital and Wellington Management.
Lead investors include Wellington Management, Pfizer Venture Investments, Arboretum Ventures and Baird Capital.
Strata Oncology Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Milwaukee, WI | 3 | Lead | Jun 2016 | |
| Ann Arbor, MI | 3 | Lead | Jun 2016 | |
| New York City, NY | 2 | Lead | May 2018 | |
| Ann Arbor, MI | 2 | Participant | May 2018 | |
| Woodcliff Lake, NJ | 2 | Participant | May 2018 | |
| Boston, MA | 1 | Lead | Jul 2021 | |
| Los Angeles, CA | 1 | Participant | May 2018 | |
| Boston, MA | 1 | Participant | Jul 2021 | |
| Ann Arbor, MI | 1 | Participant | Jun 2016 | |
| New York City, NY | 1 | Participant | Jul 2021 | |
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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 TrialStrata Oncology Competitors
Strata Oncology competitors include listed companies like Oneview Healthcare and Fonet, and private ones like XGC Software, Cybin, Thorough Future and EvidNet.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Canada | Private | - | - | $88M | - | |
| United States | Publicly listed | $14M | ($12M) | $100M | 7.1x | |
| Toronto | Private | - | - | $85M | - | |
 Beijing | Private | - | - | $87M | - | |
 South Korea | Private | - | - | $69M | - | |
 Turkey | Publicly listed | $18M | $8M | $78M | - |
Strata Oncology Public Comps
Strata Oncology is still privately-owned, but its public comps include Verrica Pharmaceuticals, AB Science, Zomedica, Bioton, Intercure, RenovoRx, BioStem Technologies, Fonet, Gain Therapeutics and Connect Biopharma.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $36M | ($10M) | 2.0x | 2.5x | (6.8x) | - | |||
| $1M | - | 65.9x | 69.3x | - | - | |||
| $32M | ($77M) | 1.2x | 1.2x | (0.5x) | - | |||
| $75M | $14M | 1.3x | - | 7.2x | - | |||
| $89M | ($3M) | 1.4x | - | (42.0x) | - | |||
| $1M | ($12M) | 61.4x | 22.3x | (6.0x) | - | |||
| $302M | $31M | 0.2x | 2.1x | 2.3x | - | |||
| $18M | $8M | 4.3x | - | 9.0x | - | |||
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Common questions about Strata Oncology
| When was Strata Oncology founded? | Strata Oncology was founded in 2016. |
| Where is Strata Oncology headquartered? | Strata Oncology is headquartered in Ann Arbor, MI, United States. |
| Is Strata Oncology publicly listed? | No, Strata Oncology is a private, VC-backed company. |
| What is Strata Oncology's valuation? | Strata Oncology was last valued at $79M in its Series B in May 2018. |
| How much funding has Strata Oncology raised? | Strata Oncology has raised $128M across 3 funding rounds. |
| What was Strata Oncology's last funding round? | Strata Oncology's last funding round was a $90M Series C in July 2021, led by Wellington Management. |
| Who are Strata Oncology's investors? | Strata Oncology's investors include Baird Capital, Arboretum Ventures, Pfizer Venture Investments, Renaissance Venture Capital, Merck Global Health Innovation Fund, Wellington Management, Deerfield Capital Management, Monashee Investment Management, eLab Ventures, Highline Capital Management and 2 others. |
| Which companies are comparable to Strata Oncology? | Companies comparable to Strata Oncology include XGC Software, Oneview Healthcare, Cybin, Thorough Future, EvidNet and Fonet. |
See companies similar to Strata Oncology
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