About Veritas Genetics
Veritas Genetics is a company based in Danvers (United States) founded in 2014 by George M Church was acquired by LetsGetChecked in March 2022.. Veritas Genetics has raised $53.38 million across 5 funding rounds from investors including LetsGetChecked, Simcere Pharma and Philab. Veritas Genetics has completed 2 acquisitions, including Curoverse and NIMGenetics. Veritas Genetics offers products and services including myGenome, myGeneticRisk, myHealthScore, myPrenatal, and CardioRisk. Veritas Genetics operates in a competitive market with competitors including 23andMe, Foundation Medicine, GreenLight Biosciences, Color and Personalis, among others.
- Headquarter Danvers, United States
- Founders George M Church
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
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- Legal Name Veritas Genetics, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$53.38 M (USD)
in 5 rounds
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Latest Funding Round
$4.64 M (USD), Debt – Conventional
Mar 09, 2018
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Investors
LetsGetChecked
& 4 more
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Employee Count
Employee Count
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Investments & Acquisitions
Curoverse
& 1 more
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Acquired by
LetsGetChecked
(Mar 29, 2022)
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Products & Services of Veritas Genetics
Veritas Genetics offers a comprehensive portfolio of products and services, including myGenome, myGeneticRisk, myHealthScore, myPrenatal, and CardioRisk. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Whole genome sequencing for disease prevention and risk analysis
Test for assessing risks of common genetic diseases
Analysis of drug responses based on genetic data
Non-invasive screening for chromosomal abnormalities
Evaluation of hereditary cardiovascular disease risks
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Funding Insights of Veritas Genetics
Veritas Genetics has successfully raised a total of $53.38M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $4.64 million completed in March 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Debt – Conventional — $4.6M
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First Round
First Round
(01 Jun 2015)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2018 | Amount | Debt – Conventional - Veritas Genetics | Valuation |
investors |
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| Feb, 2018 | Amount | Series B - Veritas Genetics | Valuation | Philab |
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| Aug, 2017 | Amount | Series B - Veritas Genetics | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Veritas Genetics
Veritas Genetics has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include LetsGetChecked, Simcere Pharma and Philab. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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early & growth stage tech and life sciences focused VC firm investing primarily in China and the US
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Founded Year | Domain | Location | |
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Life science equipment and diagnostic services are provided.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Veritas Genetics
Veritas Genetics has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Curoverse and NIMGenetics. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Genomic and biomedical Big Data infrastructure is provided.
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2010 | ||||
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Diagnostic solutions are developed using microarray and next-generation sequencing technologies.
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2007 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Veritas Genetics
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Veritas Genetics Comparisons
Competitors of Veritas Genetics
Veritas Genetics operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as 23andMe, Foundation Medicine, GreenLight Biosciences, Color and Personalis, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of genetic test solutions to study ancestry, genealogy, and inherited traits
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| domain | founded_year | HQ Location |
Genomics-based diagnostic tests for cancer are provided.
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| domain | founded_year | HQ Location |
RNA-based platform for life sciences is developed by GreenLight Biosciences.
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| domain | founded_year | HQ Location |
Cancer care is delivered through a virtual clinic by Color.
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| domain | founded_year | HQ Location |
Genomic sequencing and diagnosis software is provided for healthcare.
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| domain | founded_year | HQ Location |
Drug and companion diagnostics for multi-drug resistant cancers are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Veritas Genetics
Frequently Asked Questions about Veritas Genetics
When was Veritas Genetics founded?
Veritas Genetics was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is Veritas Genetics located?
Veritas Genetics is headquartered in Danvers, United States. It is registered at Danvers, Massachusetts, United States.
Is Veritas Genetics a funded company?
Veritas Genetics is a funded company, having raised a total of $53.38M across 5 funding rounds to date. The company's 1st funding round was a Series B of $1.71M, raised on Jun 01, 2015.
What does Veritas Genetics do?
Veritas Genetics was founded in 2014 and is based in Danvers, United States. Genetic testing services in the biotechnology sector are provided by the company. Initial products involve analysis of patient saliva samples for the BRCA gene to evaluate risks of breast and ovarian cancer. The Mygenome test, as the latest offering, enables whole-genome sequencing to identify health conditions and lifestyle traits.
Who are the top competitors of Veritas Genetics?
Veritas Genetics's top competitors include 23andMe, GreenLight Biosciences and Foundation Medicine.
What products or services does Veritas Genetics offer?
Veritas Genetics offers myGenome, myGeneticRisk, myHealthScore, myPrenatal, and CardioRisk.
How many acquisitions has Veritas Genetics made?
Veritas Genetics has made 2 acquisitions, including Curoverse, and NIMGenetics.
Who are Veritas Genetics's investors?
Veritas Genetics has 5 investors. Key investors include LetsGetChecked, Simcere Pharma, Philab, Lilly Asia Ventures, and Trustbridge Partners.