Sema4, a Mount Sinai spinout developing health-data-analytics platforms, has raised $121 million in Series C funding. BlackRock led the oversubscribed round, which also saw participation from new investors Deerfield Management Company and Moore Strategic Ventures, and also old backers Blackstone, Section 32, Oak HC/FT, Decheng and Connecticut Innovations.

With this round, coming less than a year after another $120 million-plus funding round, the company said that it now has a post-money valuation over $1 billion.

WHAT IT DOES

Sema4 was launched in 2017 with a focus on genomic and clinical data. The spinout now promotes data platforms focused on intelligent use of health research data, data-driven precision oncology, women's reproductive health and population health management. In its most recent announcement, the company also highlighted work on a holistic testing program that provides data-driven decision-making for organizations.

WHAT IT'S FOR

“This investment is exciting for the significant financial resources it provides Sema4 for our continued rapid growth and accelerated investment, and also for the world-renowned partners it brings to our team,” Eric Schadt, founder and CEO of Sema4, said in a statement. “I look forward to working with our new and existing investors – who collectively have deep expertise in the life and data sciences – as we create cutting-edge precision medicine solutions for providers and patients to dramatically improve health outcomes.”

MARKET SNAPSHOT

Sema4's genetics, oncology and reproductive health business speaks to the growing promise of precision medicine, and the roles artificial intelligence and data analysis could play in delivering personalized care. Similarly, health organizations are increasingly interested in health-data platforms like Sema4's that can provide guidance on population health management, cost-effective care and other big data focuses.

ON THE RECORD

“Sema4 is a leader at the forefront of one of the most exciting intersections in healthcare – the application of technology, AI and machine learning to help improve patient outcomes," William Abecassis, head of innovation capital at BlackRock, said in a statement. "We are excited to support this talented management team as Sema4 begins its next phase of growth.”