Vancouver-based healthcare startup Molecular You has secured a $5-million USD ($6.9-million CAD) Series A round following the nationwide launch of its direct-to-consumer blood testing platform in the United States (US).
The all-equity round was led by Voloridge Health, the health-focused subsidiary of Florida-based investment management firm Voloridge. Dynamic Leap, Molecular You co-founder Pieter Cullis, and other undisclosed investors also participated in the round. Voloridge Health vice president of business development Karolina ChwaĆek is joining Molecular Youâs board as a result of the round.
Molecular You is planning the ânear-term introductionâ of its next-generation test that will measure over 800 biomarkers.
Molecular You was founded in 2014 and claims its predictive health platform can identify health risks and provide a snapshot of full-body health by measuring more than 250 biomarkers in a single blood sample. The company has raised $29 million USD in funding to date, with $5 million of that amount coming from non-dilutive grants and subsidies, a Molecular You spokesperson told BetaKit in an email.
After a customer has a blood sample drawn in a clinic, the sample is sent to a Molecular You lab to be tested for biomarkers like proteins and amino acids.
The platform then provides the customer a score for certain health areas, such as Alzheimerâs or liver disease, and gives lifestyle recommendations it claims will lower health risks. Co-founder Rob Fraser co-authored a report in a peer-reviewed journal, OMICS, in 2023 detailing how dramatic changes in a 60-year-old womanâs biomarkers in an annual Molecular You test led to surgical intervention for pancreatic cancer.
Molecular You CEO Jim Kean said in a statement that the company will use its new capital to grow its customer base and clinical channels across North America. The company is also planning to introduce a next-generation test that will measure more than 800 biomarkers in 2026. The firm claims this new test will enable âhigher-resolution analysisâ and broaden its scope to more health areas, including certain cancers.
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Molecular You first expanded to the US market in June 2023. Shortly after, the company appointed Kean as CEO to spearhead the market expansion efforts. His goal was to leverage his experience as the general manager for consumer platforms at insurance provider Cambia Health. Kean also previously founded his own biomarker testing company, WellnessFX, which merged with Thorne HealthTech in 2013.
The startup finally launched nationwide US access this April, through a partnership with HealthQuest Esoterics, a full-service reference laboratory. The partner helps run tests and makes them eligible for insurance reimbursement.
Wellness is a large and ever-growing industry that was worth $6.3 trillion globally in 2023, after increasing in value by 25 percent over four years, according to Bloomberg. Edmonton-based NiaHealth raised a $5.75-million CAD seed round this June with an offering similar to Molecular You. Meanwhile, one of the largest players in the space, Ottawa-based Fullscript, hit $1 billion in annual recurring revenue this year shortly after entering the lab testing market.Â
UPDATE (09/05/2025): This story has been updated with additional details provided by a Molecular You spokesperson.
Feature image courtesy Molecular You.