REDWOOD, Calif.--(BUSINESS WIRE)--Oct 26, 2023--
Betteromics which has developed a clinical-grade compliant Software-as-a-Service platform that empowers life sciences professionals with the latest AI and computational techniques, announced that it has raised $20 million in a Series A financing led by Sofinnova Partners and Triatomic Capital, with participation from SHAKTI.
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Betteromics team Jack Menzel, Angela Lai, Chetan Patel (Photo: Business Wire)
The company's Omics AI Cloud platform, which can be deployed privately, eliminates data silos, allowing users to analyze multi-modal, multi-omics data in one place. It reduces risk and increases velocity from data generation to AI-powered insights.
The financing will expand the Betteromics team, and scale marketing and sales efforts to life science companies, ranging from startups to the largest enterprises.
The company’s top executives — Angela Lai as Founder and Chief Executive Officer (CEO), Chetan Patel as Chief Technology Officer, and Jack Menzel as Chief Product Officer — were integral in building transformative infrastructure that powers products at Google and GRAIL.
Lai said, “The industry has succeeded in finding ways to measure every omic and every analyte, but traditional methods and legacy systems have kept that data in silos, failing to unlock its immense potential. We've solved that. ”
Betteromics was founded in 2020 with a mission to enable scientists, researchers, and clinicians to understand and gain insights from massive amounts of data using advanced computation and AI techniques. The Omics AI Cloud streamlines the creation of knowledge graphs, integrating and connecting data with emerging standards and ontologies from disparate silos. The platform is tailored to a range of users: from diagnostic and therapeutic product developers to biotech manufacturers needing real-time quality monitoring.
Designed with compliance at its core, the Betteromics platform is certified to ISO 9001 and ISO 27001, SOC2 Type II and HITRUST i1, so that from day 1 users can ensure traceability and reproducibility for all data and analysis performed, allowing clients to operate their data knowing there are rigorous protocols in place for their most valuable and sensitive data assets.
Jeff Huber, Partner at Triatomic Capital, said: "The most meaningful application of AI technology is in life sciences. The Betteromics team is uniquely positioned with their translational experience from building the lab, data, clinical, and machine learning platform that powered the largest clinical studies ever done to reduce risk and increase velocity from data generation to AI-powered insight for life sciences companies of all sizes."
Edward Kliphuis, Partner at Sofinnova Partners, said: "Betteromics uniquely merges data science and human expertise in life sciences. The team brings together a rare combination of outstanding developers, data experts, and AI mavens with deep experience in the life sciences. Their groundbreaking approach to leveraging computational techniques on multi-omics datasets promises to bring unprecedented new insights and is poised to transform healthcare as we know it."
About Betteromics
Betteromics, based in Redwood City, California, was founded in 2020 with a mission to enable scientists, researchers, and clinicians to understand and gain insights from massive amounts of data using advanced computation and AI techniques.
Betteromics was founded by Angela Lai, who was previously Chief Technology Officer at GRAIL, a company at the forefront of early cancer detection, and prior to that served 12 years as a Vice President at Google. Betteromics has built a team of data scientists with deep expertise in life science and AI who were integral in building the core infrastructure that today powers Google, GRAIL, and Verily. For more information, please visit betteromics.com
About Triatomic Capital
Triatomic Capital is an early-stage venture capital firm focused on Applied AI, whose mission is to help great entrepreneurs build ‘century-defining’ businesses and technologies. For more information, please visit triatomic.ai
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: sofinnovapartners.com
About SHAKTI
SHAKTI is an early-stage venture capital firm investing in the reimagination of global habits enabled by AI. For more information, please visit shaktivc.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20231025491803/en/
CONTACT: Angela Lai
CEO BetterOmics Inc
angela.lai@betteromics.com
KEYWORD: CALIFORNIA NORTH AMERICA FRANCE UNITED STATES EUROPE ITALY
INDUSTRY KEYWORD: RESEARCH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE BIOTECHNOLOGY DATA ANALYTICS HEALTH DATA MANAGEMENT SCIENCE ARTIFICIAL INTELLIGENCE
SOURCE: Betteromics
Copyright Business Wire 2023.
PUB: 10/26/2023 12:00 AM/DISC: 10/26/2023 12:02 AM
http://www.businesswire.com/news/home/20231025491803/en
