Embark passes series B test with $75m

Embark Veterinary, a US-based canine DNA test provider co-founded by Cornell University faculty, has raised $75m in a series B round led by telecoms and internet group SoftBank’s Vision Fund 2
Investment and financial services group Fidelity’s F-Prime Capital subsidiary also participated in the round, as did SV Angel, Slow Ventures, Freestyle Capital and Third Kind Venture Capital. It valued the company at $700m post-money, it told TechCrunch.
Embark is the creator of a DNA test capable of detecting more than 200 genetic health risks across some 350 dog breeds. It was founded by Adam Boyko, associate professor of biomedical sciences in the College of Veterinary Medicine, and his brother Ryan Boyko, in 2015.
The cash has been earmarked for recruitment and the further development of its discovery engine.
The company received over $1.8m in seed financing form investors including Slow Ventures and Aspiration Growth Fund in 2016, adding $4.5m from Founder Collective, Freestyle Capital, Third Kind, Section 32, SV Angel and private investor Anne Wojcicki in 2017.
Slow Ventures, Section 32, Third Kind Venture Capital, Freestyle Capital and Wojciciki returned in April 2019 for a $10m series A round led by F-Prime and also backed by FJ Labs.
– A version of this article first appeared on our sister site, Global Corporate Venturing.