EXIT (2015):

* Investment Date & Round: Led Series A in 2007, followed by Sequoia and Lightspeed, Follow on Investments in Series B-F (invested: $12.8M)
* Initial Premoney Valuation: $9.5M
*Acquisition, IPO August, 2015, Current Revenue $210M and 1000+ employees
* Exit Value: $1.25B
​* Return Multiple: ~11..2X 

Natera tests blood from a pregnant woman or cancer patient and finds cell-free DNA from the fetus or from a cancer and can detect genetic defects in the fetus or detect and type the cancer. These range from Prenatal testing, In-vitro Fertilization Testing, Carrier Screening Testing, Cord Blood Banking to Early Cancer Detection and Cancer Recurrence Testing. A couple considering having children can even be tested to see if the parents are carrying genetic risks. Finally, the test can also detect genetic defects in in-vitro fertilization and help the doctor implant only the healthy embryos.

Natera started by looking at the DNA in a single cell from an IVF embryo, which allowed the company to perfect their statistical accuracy from a very small sample. They then extended this to tiny amounts of DNA floating in a person’s blood from a fetus. Natera is now the largest provider of prenatal testing, with almost 400,000 tests per year and growing rapidly. And the major insurance companies have now classified Natera’s Panorama test as “in-network”, meaning it is paid immediately for the full amount. The technology is extending to cancer applications since tumors also give off free-floating DNA into a person’s blood. They have recently published papers showing the tests are more accurate than other liquid biopsy companies in the field.
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Ted Driscoll met the Founders when they presented at a $1M premoney valuation out of Stanford. He is the longest serving Board Member.

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