Prepared for Jeffrey F. | Delivered September 8, 2019
Freenome: Funding Analysis
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To determine the valuation multiple for Freenome's latest funding round.
While information about the last two funding rounds was available, the valuation multiple for the company for them was not specified. As
is a private company, they are not required to publish such information. In fact, the company has
declined to comment
about their valuation on several occasions.
e has raised
in 5 funding rounds, the last two rounds being in August 2018 and July 2019.
In August 2018, the company raised
in a Series A funding round, led by Anne
, co-founder and CEO of 23andMe.
In July 2019, the company was able to procure an additional
from 23 different companies in a Series B funding round. The investment was led by RA Capital Management and Polaris Partners.
, the company's valuation is estimated in the range between
$500 million and $1 billion
after the last funding round of July 2019. Considering that the company's estimated revenue is $
, that would give it a valuation multiple (EV/Revenue) of 76.9 to 153.8.
, Pharmaceutical companies usually have a valuation multiple (EV/EBITDA) of
On the other hand, data from the New York University shows that R&D drug companies have a valuation multiple (EV/EBITDA) that vary between
16 and 22.5
depending on whether the company is a pharmaceutical company or a biotechnology one.