EXIT: 2013

* Investment Date & Round, Led Series B (October of 2013) with Google Ventures & TPG (Invested $4.5M)
* Initial Premoney Valuation $10M (Current Value ~$16M)
* Acquisition: Uncertain
* Exit Valuation: TBD
* Return Multiple: ~5-10x

DNAnexus runs a cloud platform to do genetic sequencing and  analysis. The growing problem in genetics is the large size of the  genetic data. As genetics becomes more mainstream, this will  become a bigger and bigger problem. DNAnexus has become the  largest player in this genetics application space, and they work on Amazon’s, Google’s, Apple’s and Alibaba’s clouds. The company is not restricted to any one cloud. DNAnexus is also HIPAA compliant, which means personal genetic data is encrypted and secure on their system. Their platform is now used by dozens of major research universities as well as many genetics companies, including Natera. The FDA is now also using DNAnexus, making it the only FDA-certified genetics/cloud platform. Genetics companies can submit to the FDA on the DNAnexus platform. The company is growing very quickly with revenues approaching $30M this year. Since they buy space and processing  power from the cloud companies in bulk at a discount, they can provide cloud services to customers that are lower cost, more secure and FDA compliant. In addition, many universities have genetic processing software that other customers on DNAnexus can use at no cost.
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Ted Driscoll was asked by the Founders to serve on the Board but gave the seat to a Partner because he had too many Board commitments.