RainDance Technologies Completes Series E Financing
March 04, 2014
RainDance Technologies, a genomics tools company making molecular testing of complex diseases more standardized and readily available, has closed a $16.5 million Series E financing round extension, bringing the round total to $36.5 million. The company initially raised $20 million in the round in April 2013. The new infusion included participation from first-time investors GE Ventures and Northgate Capital, as well as all existing backers (which include, among others, Mohr Davidow Ventures, Quaker BioVentures and Alloy Ventures).
The company's ultra-sensitive genomic tools are leading to new non-invasive liquid biopsy applications for more accurate, reliable, cost-effective and early detection of cancer, inherited and infectious diseases. The additional investment accelerates RainDance’s commercial expansion and assay development initiatives for its products, which include the RainDrop digital PCR system, ThunderStorm targeted sequencing system and ThunderBolts cancer panel. RainDance has now raised well over $100 million in funding, including a 2011 $37.5 million Series D round that garnered a $74 million valuation.