More and more healthcare providers are recognizing the critical role that genomic software plays in the advancement of precision medicine. Investors are also getting behind genomics, as evidenced by Seed funding round of $8.5 million that Nest Genomics closed on Tuesdays.
The circle was led by B Capital. Several other investors participated, incl Y combinator, Samsung Next, Maven Ventures and CEO of 23andMe Ann Wojcicki.
Nest, founded last year, is based in New York and has offices in San Francisco and Tel Aviv. The startup’s founders, Moran Snir and her husband Guy, have started a genomics company before. Their previous company, called Clear Genetics, was acquired by invites in 2019
“With the dramatic drop in sequencing costs and our increased understanding of the genome, genetics is becoming applicable to more and more patients,” said Moran Snir, who serves as Nest’s CEO. “But there’s a last-mile problem with getting genetic information to patients and integrating it into providers’ workflows.
For example, patients who have a family history of cancer should be educated about how it may affect their health, she pointed out. To achieve the best treatment outcomes, providers should offer these patients genetic testing and personalize their care based on the results.
That’s why Snir and her husband founded Nest. The company provides the software infrastructure needed by health systems, clinics, pharmaceutical companies and payers to launch and scale genomic programs. Nest’s platform has several EHR-integrated tools for providers, such as patient triage tools, test ordering and clinical decision support to manage patient genetic results based on the latest clinical guidelines.
Patients also need easy and secure access to their genetic information, Snir said. Nest’s platform includes several features for patients, including personalized educational content, result sharing and screening reminders.
“We think Nest is your home for genetic information,” Snir said. “Nest is a digital place to provide genetic results for life, so patients have the right to access this data over time and use it with their providers to prevent or delay disease.”
Nest’s software has already been adopted by several major health systems, according to the company’s press release. Snir declined to name what those health systems are, but said Nest will announce them later this year.
Nest is certainly not the only company selling genomics software—there are companies that do Spiral and Seaport diagnostics. In Snir’s view, Nest differentiates itself from the competition because its EHR-integrated platform can be seamlessly integrated into a provider’s existing workflow. She also said Nest is unique because it combines clinical decision support with engagement with patient genetics.
Although the current fundraising environment is more challenging than it has been in the last few years, Snir said there is still a lot of interest in the genomics space, and Nest hasn’t had much trouble securing its seed funding.
“My advice to other founders is to show a strong founder-market fit, make it clear that you’re an expert in the field and have a long-term vision,” she said. “Also, fundraising is a distraction, so try to make the process as short and efficient as possible so you can get back to building your company.”
Photo: iLexx, Getty Images