Counsyl Celebrates Anniversary With $80M Funding Round
Counsyl Celebrates 10 Year Anniversary With New Financing and New Board Member
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Counsyl today announces 10 years of growth with $80 million in financing from Perceptive Advisors, a New York-based life sciences investment firm, and the addition of Lily Sarafan, chief executive officer of Home Care Assistance (HCA), to the company’s board of directors.
“We’ve dedicated the last decade to developing products and services that provide actionable information to guide women and their families as they make important health decisions,” said Ramji Srinivasan, co-founder and chief executive officer of Counsyl. “This financing will support our continued growth with an eye toward making expanded carrier screening as routine as taking folic acid, non-invasive prenatal screening as routine as an ultrasound, and hereditary cancer screening as well-known as a pap smear.”
Since the company’s founding, Counsyl has championed key advances in screening for women and their families, screening more than 850,000 patients, serving more than 17,000 healthcare providers, and providing more than 60,000 genetic counseling sessions.
The increased funding from a key player in the healthcare and life sciences sectors showcases investor confidence in Counsyl’s leading genetic screening products and business model, and commitment to maintaining a long-term position as a leader in women’s health. “We are proud to receive the financial support of Perceptive Advisors, who have a very strong record of supporting industry leaders across the healthcare spectrum,” said Srinivasan.
"Counsyl has been a true pioneer in women’s health screening, bringing expanded carrier screening to market and continuing to design best-of-industry products and services to meet the needs of women and their families,” said Sam Chawla, portfolio manager of Perceptive Advisors. Counsyl’s CLIA-certified clinical lab is among the most automated and advanced in the world, with technology and processes that deliver high-quality testing with greater efficiency, allowing for reduced costs and rapid turnaround times. “The company is well-positioned to lead the industry and we look forward to supporting their continued growth.”
Further, Counsyl also welcomes Lily Sarafan, chief executive officer of HCA, a company that provides premier in-home senior care, as a new board member. Sarafan lends her expertise to Counsyl as the company looks to continue to grow as an innovative leader in women’s health. Since 2005, she has grown HCA from a startup into a global enterprise, with more than 7,000 employees across 160 markets in the United States, Canada and Australia.
Sarafan brings an impressive background as an entrepreneur, investor and advisor in the healthcare industry. In addition to her new appointment with Counsyl, Sarafan serves on the boards of artificial intelligence company Entefy, the Stanford Alumni Association and the Berkeley Haas Center for Innovation Economies.
"I am honored to join Counsyl’s board and to offer my own insights and experience to this exciting company,” says Sarafan. “We share the same values of providing intelligent and compassionate care to patients who need it most.”
Counsyl is committed to improving lives by providing actionable information that guides women and their families in making critical and timely health decisions. Whether it’s starting a family or evaluating risk for cancer, Counsyl's genetic screens provide patients with early awareness about genetic conditions, so they can live informed and prepare for the future. Counsyl has screened more than 850,000 patients and served more than 17,000 healthcare professionals. For more information, visit www.counsyl.com. Sign up for news announcements from Counsyl at subscribe.counsyl.com.
Donelle M. Gregory