SOPHiA Genetics, a genomic health data company that leverages artificial intelligence to provide clinical and genomic insights, said today it has closed on an oversubscribed $110 million Series F financing.
Proceeds from the financing will allow SOPHiA to embark upon the next stage of its planned global expansion, aimed at satisfying growing clinical and biopharma demand for secure data pooling and knowledge sharing for healthcare professionals, so that they can translate multiple sources of complex medical data into valuable clinical insights.—what the company calls “Data-Driven Medicine.”
SOPHiA says it has established the world’s largest Data-Driven Medicine community network through its universal and collaborative AI platform. The SOPHiA Platform is used by more than 1,000 healthcare institutions, and has analyzed 600,000 genomic profiles, with up to 17,000 new profiles being added monthly.
SOPHiA has operations in Boston, as well as in Saint-Sulpice, Switzerland, and Bidart, France. The company has raised a total $250 million since it was established in 2011, including a $77 million investment round completed last year.
The latest financing will enable SOPHiA to boost its presence in the U.S. and Asian markets, as well as increase its platform’s multimodal capabilities and its adoption by healthcare institutions worldwide, SOPHiA added.
“Since inception, we knew that leveraging a wide range of data modalities powered by cutting-edge technologies was key to sustainably deliver better outcomes to the global healthcare community,” Jurgi Camblong, SOPHiA’s CEO and Founder, said in a statement. “Now, with this new funding round, we can embark on the next stage of our development and take our collaborative approach further, delivering intelligent medicine, together.”
SOPHiA said Didier Hirsch, a former CFO at Agilent, has joined the company’s Board of Directors. He will also chair the company’s Audit Committee, and usher SOPHiA as it works to meet its next milestones.
aMoon, a health-tech & life sciences venture fund based in Israel, and Hitachi Ventures, a venture arm of Japanese Hitachi Group, teamed up to lead the Series F round. Also joining the round were two financial institutions, Credit Suisse and the Pictet group.
“The overall demand for Data-Driven Medicine is rapidly growing, and the next step is to successfully combine multiple sources of data to better address clinicians’ needs,” stated Tomer Berkovitz, PhD, Partner & CFO of aMoon. “With this shift, more complex data will be generated, and we believe that SOPHIA’s decentralized model will play a pivotal role in empowering health organizations to offer better patient care.”
In addition, existing investors Swisscom Ventures, Endeavour Vision, Generation Investment Management, Alychlo, and Eurazeo Growth participated in the round, as well as newcomers ACE & Company and Famille C Invest.
“SOPHiA has established an impressive track record of disrupting healthcare and enabling a decentralized approach. This new funding round will further strengthen SOPHiA’s already unique offering, performance, and life-changing impact on patients and targeted therapies,” added Troy Cox, Chairman of the Board of Directors of SOPHiA GENETICS.