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- Visby Medical
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Jun 2022 | Series E | $1B |
| Mar 2022 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2025 | Undisclosed stage | Catalio 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 2022 | Series E | Lightrock (lead); Pitango VC; Cedars Sinai; Artiman Ventures; Blue Water Life Science Advisors | $35M | $1B | Visby 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 2022 | Series E | Ping 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 | $1B | Visby 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 2020 | Series D | Cedars 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 2019 | Series C | Hutchison 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 2015 | Series B | Artiman 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | May 2020 | ||
| 4 | Lead | May 2020 | ||
| 4 | Lead | Nov 2015 | ||
| 3 | Participant | May 2020 | ||
| 2 | Participant | Apr 2019 | ||
| 2 | Participant | Jun 2022 | ||
| 1 | Lead | Apr 2019 | ||
| 1 | Participant | May 2020 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Lead | Mar 2022 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Lead | Jun 2025 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialVisby 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $344M | ($429K) | $1.1B | 2.5x | ||
| Publicly listed | $329M | $50M | $867M | 1.9x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $344M | ($429K) | 2.6x | 2.5x | (2082.6x) | 44.9x | |||
| $329M | $50M | 1.9x | 1.9x | 12.5x | 13.5x | |||
| $359M | $105M | 2.2x | 2.2x | 7.5x | 7.4x | |||
| $607M | ($56M) | 2.2x | 2.3x | (23.3x) | (11.2x) | |||
| $77M | ($65M) | 8.8x | 7.5x | (10.4x) | (18.8x) | |||
| $75M | ($98M) | 9.9x | 7.9x | (7.7x) | 52.1x | |||
| $245M | $48M | 4.2x | 4.1x | 21.3x | 14.6x | |||
| $51M | ($21M) | 14.2x | - | (34.0x) | - | |||
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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. |
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