Atain Insurance backs Genomenon

Genomenon , an AI-driven genomics company, closed a $20 million Series B financing round, bringing its total funding to $35 million.

The Series B financing round was led by Beringea and Spring Mountain Capital, with increased participation from BroadOak Capital Partners and Riverine Ventures joining as new investors, and continued support by the company’s current investors, including Green Park & Golf Ventures, the University of Michigan, IrishAngels, Red Cedar Ventures, Michigan Rise, Invest Detroit Ventures, Michigan Angel Fund and Atain Insurance Companies .

Founded in 2014, the Michigan-based company leverages AI to organize the world’s genomic knowledge and put it at the fingertips of doctors and clinicians to diagnose patients with rare genetic diseases and/or cancer.

“Coming on the heels of a successful 2021 where the company once again more than doubled its revenue and customer base, Genomenon will use the new funds to grow its commercial team to reach new customers around the world. Our AI-driven technology enables genomic insights to support clinicians in patient diagnosis and scientists developing precision medicines.” – Mike Klein, Genomenon CEO.

Genomenon’s Mastermind Genomic Search Engine is used by more than 1,000 genetic testing labs and hospitals worldwide to provide clinical insight into the scientific literature on genomic data. Its Prodigy Genomic Landscapes are used by top Pharma and biopharma companies to gain a profound understanding of the genetic drivers and clinical attributes of any genetic disease, from rare diseases to cancer. These datasets enable Pharma to accelerate target discovery, identify genetic biomarkers for clinical trial stratification, and develop companion diagnostics for regulatory approval.