23andMe, the DNA testing technology company, has raised $82.5 million in new funding, bringing its total funding to over $850 million.
The funding, confirmed by the Wall Street Journal, comes from investors including Sequoia Capital and NewView Capital.
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The new funding raised came from an offering of $85 million in total equity shares, according to a new SEC filing. 23andMe did not provide a specific agenda for this Series F round beyond general use to continue to fund and grow the business.
23andMe was one of the pioneers in the distribution of individual home genetic testing kits, which provide customers with insights about their family tree, as well as potential health information, based on their DNA.
What started as an offer to individuals to improve their health and know more about their ancestry and family tree is now becoming a research powerhouse. 23andMe is now using the data it has collected in aggregate for its own studies, but also to support the work of third parties, something that has become a significant source of revenue for the company. The company stressed that when shared with third parties, data is only shared in aggregate and in de-identified formats.
Just recently, 23andMe conducted a study that examined how genetic markers could affect a person’s susceptibility to COVID-19.
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