Sequencing Tech Companies
Overview of four companies built on DNA/RNA sequencing technologies: 23andMe, Tempus, Helix, and GRAIL.
Company deep dives
23andMe
Founders: Anne Wojcicki, Linda Avey, Paul Cusenza
Founded: 2006
Initial investment: Early Series A (2007) = $9M; later rounds totaled hundreds of millions
Current revenue (recent FY): ≈ $220M range
Main focus: DTC ancestry + health risk reports; large consent-based genetics database monetized via research/pharma partnerships
Future outlook: DTC growth has slowed; under a pharma owner, expect a pivot toward drug discovery/data using the biobank (with strong emphasis on privacy/consent).
Tempus (NASDAQ: TEM)
Founder: Eric Lefkofsky (with early scientific leadership by Kevin White)
Founded: 2015; IPO: 2024
Funding before IPO: $1.3B+ cumulatively
Current revenue (2024): ≈ $690M (Genomics + Data/Services)
Main focus: AI-enabled precision medicine, oncology genomic tests + a clinical data platform (decision support, trial matching, and life-sciences data products)
Future outlook: Strong position if it keeps scaling higher-margin data/software alongside testing, while navigating reimbursement and competition (Foundation Medicine, Guardant, hospital labs).
Helix
Founders: James Lu, Justin Kao, Scott Burke
Founded: 2015 (incubated with Illumina, Warburg Pincus, Sutter Hill)
Initial investment: Greater than $100M at launch; later $200M Series B (2018)
Current revenue: Private company; commonly estimated tens of millions annually
Main focus: Population genomics programs for health systems and states (clinical screening, pharmacogenomics, pathogen surveillance) delivered via an enterprise genomics platform
Future outlook: Growth tied to multi-year B2B contracts and public-health budgets; success depends on embedding genomics in routine care and showing measurable outcomes.
GRAIL
Origin: Spun out of Illumina in 2016 (re-separated from Illumina in 2024)
Early funding: Series A greater than $100M; Series B $1B (2017)
Current revenue (2024): ≈ $100M+ Galleri sales in the US
Main focus: Multi-cancer early detection (MCED) via blood (Galleri test) for asymptomatic individuals; advancing clinical evidence and payer coverage
Future outlook: Enormous TAM if MCED earns guideline inclusion + broad reimbursement; near-term growth via employer/self-pay and targeted Medicare pathways while pivotal outcomes data mature.
Side-by-side comparison
| Company | Founded | Founders (lead) | Initial Capital (not exhaustive) | Recent Revenue Snapshot | Core Focus | Go-to-Market | Key Risks/Levers |
|---|---|---|---|---|---|---|---|
| 23andMe | 2006 | Anne Wojcicki; Linda Avey; Paul Cusenza | ~$9M Series A; later rounds | ~$220M (FY2024) | DTC kits + research database | Consumer + B2B pharma | Privacy, demand saturation |
| Tempus | 2015 | Eric Lefkofsky | $1.3B+ pre-IPO | ~$693M (2024) | Oncology genomics + AI data platform | B2B (providers, pharma) | Reimbursement; competition |
| Helix | 2015 | James Lu; Justin Kao; Scott Burke | >$100M + $200M Series B | Tens of millions (est.) | Population genomics (health systems, public health) | B2B (enterprise) | Contract wins, outcomes proof |
| GRAIL | 2016 | Illumina spin-out; ARCH, others involved | >$100M Series A; $1B Series B | ~$100M+ (2024 US) | MCED (Galleri) | Self-pay + payer pilots | Evidence, guidelines, price |