Visby Medical Valuation, Funding & Investors

Visby Medical is valued at $1B as of June 2022.

Last Visby Medical valuation

$1B

Series E · Jun 2022

Last Visby Medical funding round

$55M

Undisclosed stage · Jun 2025

Cumulative funding Visby Medical raised

$377M

across 6 funding rounds

Key investors in Visby Medical

  • Pitango VC
  • Artiman Ventures
  • Cedars Sinai
  • John Doerr
  • Valo Ventures
  • Blue Water Life Science Advisors

Visby Medical Overview

About Visby Medical

Visby Medical is a diagnostics firm headquartered in Santa Barbara, California, specializing in rapid polymerase chain reaction tests for infectious diseases. Its instrument-free, single-use devices deliver PCR results in under 30 minutes. The company markets FDA-cleared tests for chlamydia, gonorrhea, and trichomoniasis in point-of-care and at-home formats, alongside multiplex assays for COVID-19, influenza A, and influenza B in clinical settings. Visby Medical's platform supports decentralized testing to accelerate disease detection.


Founded

2012

HQ

United StatesSan Jose, CA

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Product sales

Valuation

$1B (Jun 2022)

Visby Medical Valuation

Visby Medical is currently valued at $1B, based on its Series E in June 2022.

The $35M round was led by Lightrock, with participation from Pitango VC, Cedars Sinai, Artiman Ventures and Blue Water Life Science Advisors.

Visby Medical's valuation has moved from $1B at its Series E in March 2022 to $1B in June 2022, across 2 priced rounds.

Visby Medical valuation by funding round

Visby Medical valuation by funding round
DateStageValuation
Jun 2022Series E$1B
Mar 2022Series E$1B

Visby Medical Funding History

Visby Medical has raised a total of $377M across 6 funding rounds.

Visby Medical's first fundraising round was a $16M Series B in November 2015. The most recent completed round was a $55M undisclosed-stage round in June 2025.

Visby Medical funding rounds

Visby Medical funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2025Undisclosed stageCatalio Capital Management (lead); Pitango VC; Cedars Sinai; John Doerr; +ND Capital; Blue Water Life Science Advisors$55M-Visby Medical develops rapid, at-home polymerase chain reaction (PCR) diagnostics, including a recently FDA-authorized Women's Sexual Health Test for detecting three common sexually transmitted infections (STIs) in women, delivering lab-accurate results in about 30 minutes without instruments. Founded by Israeli professor Adam de la Zerda, the company focuses on revolutionizing infectious disease diagnostics with portable solutions and has raised a total of approximately $386M to $525M across multiple rounds, backed by investors like Pitango, Artiman, Cedars-Sinai, ND Capital, Blue Water Life Science Advisors, John Doerr, and Catalio Capital Management. On June 17, 2025, Visby Medical announced a Series F funding round of approximately $55M, with potential to reach $65M, led by Catalio Capital Management and including participation from existing investors ND Capital, Cedars Sinai Medical Center, Blue Water Life Science Advisors, Pitango Ventures, and John Doerr. The funds will accelerate the launch and distribution of the at-home STI test, enhance market reach, operational capabilities, R&D, and manufacturing scale-up. As part of the round, Catalio Partner Isaac Ro joins the board as an observer, and Chuck Alpuche, an operational expert from Imperative Care, Insulet, and PepsiCo, joins as an independent director. The company continues to expand its at-home diagnostics portfolio, positioning itself as a leader in consumer-empowered health testing.
Jun 2022Series ELightrock (lead); Pitango VC; Cedars Sinai; Artiman Ventures; Blue Water Life Science Advisors$35M$1BVisby Medical is a medical diagnostics company developing instrument-free handheld PCR platforms for rapid, point-of-care testing of infections like COVID-19, influenza, and antimicrobial resistance, enabling testing anytime, anywhere without lab equipment. The company raised $100 million in an initial Series E round in early 2022 led by Ping An Voyager Partners with participation from Healthcare of Ontario Pension Plan (HOOPP), John Doerr, Cedars Sinai Medical Center, ND Capital, Artiman Ventures, Pitango Venture Capital, Blue Water Life Science Advisors, and Nissim Capital. On June 29-30, 2022, it extended the Series E with an additional $35 million led by Lightrock, joined by existing investors including John Doerr, Cedars Sinai, ND Capital, Artiman Ventures, Pitango VC, Blue Water Life Science Advisors, and J Ventures, at a post-money valuation just over $1 billion—the same as the initial Series E tranche. The extension funding aims to scale production from tens to hundreds of thousands of monthly tests, expand the product lineup with COVID + influenza A/B combination tests, antimicrobial resistance panels, and at-home PCR diagnostics for consumers. Visby Medical emphasized attracting long-term investors undeterred by public market fluctuations, highlighting confidence in its technology amid market slowdowns. Founder and CEO Adam de la Zerda noted the funding supports revolutionizing patient care through portable diagnostics. The company has continued raising capital post-2022, including a Series F in 2025, bringing total funding over $400M from 25+ investors, positioning it as a leader in portable infectious disease diagnostics amid competitive healthcare tech landscape with players like Color Genomics and Viz.ai.
Mar 2022Series EPing An Global Voyager (lead); Pitango VC; Blue Water Life Science Fund; Cedars Sinai; John Doerr; Healthcare of Ontario Pension Plan (HOOPP); NDCapital; Nissim Capital; Artiman Ventures$100M$1BVisby Medical is a medical diagnostics company founded in 2012, developing handheld, instrument-free, single-use PCR tests for infections including sexual health (bacterial/parasitic), COVID-19, and planned expansions to COVID+influenza A/B, antimicrobial resistance panels, and at-home consumer use. The company aims to enable 'healthcare anywhere' by combining rapid PCR diagnostics with telemedicine. On March 1, 2022, Visby Medical raised over $100 million in its Series E financing round, led by Ping An Voyager Partners (also referred to as Ping An Global Voyager), with participation from Healthcare of Ontario Pension Plan (HOOPP), John Doerr, Cedars Sinai Medical Center, ND Capital, Artiman Ventures, Pitango Venture Capital (Pitango VC), Blue Water Life Science Advisors/Fund, and Nissim Capital. The funds are designated to scale production from tens to hundreds of thousands of tests per month and expand the product menu. The Series E was extended in June 2022 by an additional $35 million led by Lightrock (with some original investors), at the same post-money valuation reported as just over $1 billion by company spokesperson to TechCrunch, achieving unicorn status. Forge Global lists a $1.16 billion post-money valuation specifically for the March 2022 Series E tranche with $108.62 million raised. Visby Medical's investors demonstrate confidence in its patented PCR technology amid market conditions, positioning it to address diagnostic needs in clinical, point-of-care, and consumer settings. Subsequent rounds include a Series F in June 2025, but details confirm the 2022 Series E valuation context.
May 2020Series DCedars Sinai (lead); Pitango VC; J-Ventures; John Doerr; Valo Ventures$70M-Visby Medical develops instrument-free, handheld PCR diagnostic tests for rapid detection of infections like STIs, COVID, and influenza, enabling point-of-care and at-home testing with lab-grade accuracy in about 30 minutes. Founded in 2010 by Adam de la Zerda and headquartered in San Jose, California, the company has raised over $470 million across 12 funding rounds from investors including Cedars-Sinai, John Doerr, Pitango Venture Capital, and others. Later rounds include a $100 million Series E in March 2022 led by Ping An Voyager Partners and HOOPP, with participation from Cedars Sinai, John Doerr, Pitango, and others, followed by a $35 million Series E extension in June 2022 led by Lightrock at over $1 billion post-money valuation (reported as $965-$1,000 million). A $55 million round (potentially Series F) in 2025 was led by Catalio Capital Management with existing investors like Cedars Sinai and Pitango. These funds supported scaling production, expanding product lines like COVID-influenza combo tests and at-home STI panels, and accelerating commercialization. Visby has received grants like $3.9 million in January 2025 and others from CARB-X. The company focuses on revolutionizing diagnostics for healthcare providers and consumers, with FDA-cleared products like the Women's Sexual Health Test for STIs.
Apr 2019Series CHutchison Port Group (lead); Plug and Play (lead); Ling Wong; Valo Ventures; Artiman Ventures$101M-Visby Medical is a medical diagnostics company developing instrument-free, single-use PCR platforms for rapid testing of infectious diseases, including STIs, respiratory infections like COVID-19 and influenza, and antimicrobial resistance panels, enabling point-of-care and at-home use. The company aims to transform patient care by allowing clinicians to test, diagnose, and treat in a single visit, with products like the Men's Sexual Health Test for chlamydia and gonorrhea from urine samples in under 30 minutes. Search results detail later funding: a Series E round expanded to over $135M in 2022 ($100M initial + $35M extension) at over $1B post-money valuation, led by Ping An Voyager Partners/HOOPP initially and Lightrock for extension, with participants including Artiman Ventures, John Doerr, Cedars-Sinai, ND Capital, Pitango, and others; total raised across rounds ~$470-525M over 12-14 rounds as of 2025. Recent grants include $3.9M in Jan 2025 and $1.2M in Dec 2023; a $55M round (~$65M potential) led by Catalio in 2024/2025 for STI commercialization. Visby has FDA clearances/EUAs for tests like pooled COVID-19 PCR (2021) and point-of-care respiratory panel (2024). Funds support scaling production to hundreds of thousands of tests monthly, product expansion, and at-home diagnostics. Competitors include RapidAI, Meditrina; operates in growing point-of-care diagnostics market projected to $60B by 2034.
Nov 2015Series BArtiman Ventures (lead); E Squared Capital Management$16M-Visby Medical raised $16 million in its Series B round on October 29, 2015. Artiman Ventures participated in this round, consistent with the query's investor details, though E Squared Capital Management is not explicitly confirmed in available records for this specific date. The company develops instrument-free, single-use PCR platforms for rapid testing of serious infections.

Who has invested in Visby Medical?

19 investors have backed Visby Medical across its funding rounds, including Pitango VC, Artiman Ventures, Cedars Sinai, John Doerr, Valo Ventures and Blue Water Life Science Advisors.

Lead investors include Catalio Capital Management, Lightrock, Ping An Global Voyager, Cedars Sinai, Hutchison Port Group and 2 other investors.


Visby Medical Investors

Investors in Visby Medical by funding rounds participated
InvestorHQRoundsRoleFirst check
Pitango VCIsraelHerzliya4ParticipantMay 2020
Cedars SinaiUnited StatesLos Angeles, CA4LeadMay 2020
Artiman VenturesUnited StatesSan Francisco, CA4LeadNov 2015
John DoerrUnited StatesSan Francisco, CA3ParticipantMay 2020
Valo VenturesUnited StatesSan Francisco, CA2ParticipantApr 2019
Blue Water Life Science AdvisorsUnited StatesSan Diego, CA2ParticipantJun 2022
Plug and PlayUnited StatesSan Francisco, CA1LeadApr 2019
J-VenturesUnited StatesSan Francisco, CA1ParticipantMay 2020
Blue Water Life Science FundUnited StatesSan Francisco, CA1ParticipantMar 2022
Ping An Global VoyagerHong KongHong Kong1LeadMar 2022
Ling WongUnited StatesSeattle, WA1ParticipantApr 2019
+ND CapitalUnited StatesSan Francisco, CA1ParticipantJun 2025
Catalio Capital ManagementUnited StatesNew York City, NY1LeadJun 2025

This data is available for Pro users. Sign up to see all 19 Visby Medical 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 Trial

Visby Medical Competitors

Visby Medical competitors include listed companies like Castle Biosciences and Novogene, and private ones like Enveda Biosciences, Immunai, Mammoth Biosciences and Nordic Bioscience.

Public and private companies comparable to Visby Medical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Enveda BiosciencesUnited StatesBoulder, COPrivate--$1B-
ImmunaiUnited StatesNew York City, NYPrivate--$1B-
Mammoth BiosciencesUnited StatesUnited StatesPrivate--$1B-
Nordic BioscienceDenmarkCopenhagenPrivate--$1B-
Castle BiosciencesUnited StatesUnited StatesPublicly listed$344M($429K)$1.1B2.5x
NovogeneChinaChinaPublicly listed$329M$50M$867M1.9x

Visby Medical Public Comps

Visby Medical is still privately-owned, but its public comps include Castle Biosciences, Novogene, Eckert & Ziegler, OPKO Health, SOPHiA Genetics, Genfit, Sansure Biotech, Scribe Therapeutics, Fulgent Genetics and Azenta.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Castle Biosciences$344M($429K)2.6x2.5x(2082.6x)44.9x
Novogene$329M$50M1.9x1.9x12.5x13.5x
Eckert & Ziegler$359M$105M2.2x2.2x7.5x7.4x
OPKO Health$607M($56M)2.2x2.3x(23.3x)(11.2x)
SOPHiA Genetics$77M($65M)8.8x7.5x(10.4x)(18.8x)
Genfit$75M($98M)9.9x7.9x(7.7x)52.1x
Sansure Biotech$245M$48M4.2x4.1x21.3x14.6x
Scribe Therapeutics$51M($21M)14.2x-(34.0x)-

This data is available for Pro users. Sign up to see all Visby Medical competitors and their valuation data.

Start Free Trial

Common questions about Visby Medical

When was Visby Medical founded?Visby Medical was founded in 2012.
Where is Visby Medical headquartered?Visby Medical is headquartered in San Jose, CA, United States.
Is Visby Medical publicly listed?No, Visby Medical is a private, VC-backed company.
What is Visby Medical's valuation?Visby Medical was last valued at $1B in its Series E in June 2022.
How much funding has Visby Medical raised?Visby Medical has raised $377M across 6 funding rounds.
What was Visby Medical's last funding round?Visby Medical's last funding round was a $55M undisclosed-stage round in June 2025, led by Catalio Capital Management.
Who are Visby Medical's investors?Visby Medical's investors include Pitango VC, Cedars Sinai, Artiman Ventures, John Doerr, Valo Ventures, Blue Water Life Science Advisors, Plug and Play, J-Ventures, Blue Water Life Science Fund, Ping An Global Voyager and 9 others.
Which companies are comparable to Visby Medical?Companies comparable to Visby Medical include Enveda Biosciences, Immunai, Mammoth Biosciences, Nordic Bioscience, Castle Biosciences and Novogene.

See companies similar to Visby Medical

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial