Eagle Genomics raises $1m in funding first close and announces senior leadership changes

Software leader in the field of genomic data and bioinformatics analysis poised for growth

30 April 2018Cambridge, UKEagle Genomics, leaders in life sciences smart data management and analysis, has appointed Executive Chairman Anthony Finbow to the post of Chief Executive, with founder Abel Ureta-Vidal moving to Chief Product Officer.

The change in management structure marks a new phase for Eagle Genomics as the organisation rapidly shapes for scale to meet customer demand. The company has acquired 11 enterprise customers since its last funding round and was one of just 12 companies to be accepted onto the latest cohort of the Microsoft Scale-Up program, exposing it to the global Microsoft customer network.

To further support this growth, the company raised $1m within 3 weeks of the launch of its latest investment round. Made up of a diverse range of investors, including follow on investment from UK specialist fund UK Innovation & Science Seed Fund (UKI2S – formerly Rainbow Seed Fund) and the round remains open until the end of June, and is a bridge to a planned Series A funding towards the end of the year.

The funds raised will be used to accelerate the development of Eagle’s knowledge discovery platform, the e, which transforms scientific data into actionable insights that drive product decision making. The knowledge gained from the platform enables companies to quickly assess product potential, accelerate market entry and mitigate risk.  The funds will also support sales and marketing activity in order to build upon the current momentum.

CEO of Eagle Genomics Anthony Finbow commented:

“I am delighted to become CEO at Eagle Genomics at this formative stage as we shape the organisation for scale and execute on our growth strategy. Over the last two years we have made significant strides in building our software platform and have a clear product market fit in some compelling growth markets. When applied to microbiome research, the platform is enabling new insight that will shape consumer and healthcare products of tomorrow; this is something we are particularly excited about.”

This significant progress at Eagle Genomics was marked by further success last week – the company was chosen as a winner at the 2018 Red Herring Top 100 Europe Awards, which recognise Europe’s leading private companies.

About Eagle Genomic 

Eagle Genomics’ award-winning AI augmented knowledge discovery platform, the e, is revolutionising how scientists conduct life sciences research and is bridging the gap between data and new insights in a rapid, systematic and traceable way.  It puts data science at the fingertips of biologists to drastically reduce time and cost of research, enabling customers to achieve radical productivity improvements and true data driven discovery.

About UK Innovation & Science Seed Fund (UKI2S)

Since the Fund’s inception in 2002, UKI2S has been investing in the earliest and riskiest stages to build world-leading companies from world-leading UK science. As a leading ‘patient capital’ investor with more than £330 million private investment leveraged to date, UKI2S invests in promising technology companies that stem out of the UK’s engineering and high-quality science research. UKI2S works closely with its partners — led STFC, BBSRC and NERC, which are all part of UK Research & Innovation (UKRI) and Dstl — and is aligned with the Catapults and Innovate UK to create the best environment for innovation to flourish and in turn, boost the UK’s competitiveness and productivity by commercialising key technological advances in industrial biotech, ag tech, healthcare, medicine, clean energy, materials, artificial intelligence, software and space.

UKI2S’s portfolio showcases a number of ‘world’s firsts’ ambitions and includes two companies named by the World Economic Forum as ‘Technology Pioneers.’ For more information, please visit www.ukinnovationscienceseedfund.co.uk.