Color Health said on Tuesday that it has raised $100 million in a Series E financing round.
The round was led by Kindred Ventures and certain funds and accounts advised by T. Rowe Price Associates. It included existing investors General Catalyst, Viking Global Investors, and Emerson Collective. Color said that it has raised $378 million to date, giving it a valuation of $4.6 billion.
Color, which started out as genetic testing company Color Genomics, provides population health services to individuals and through employers and public health departments, such as genetic testing and analysis, health program management, patient outreach, and data management. The Burlingame, California-based company also offers SARS-CoV-2 testing in schools nationwide including through a recent partnership with Thermo Fisher Scientific.
Color said it is now expanding into vaccination and preventive health services for schools and employers, as well as infectious disease management programs, such as for sexually transmitted infections, for public health settings.
"What we have built will serve as a critical piece of public health infrastructure to deliver access to healthcare services to those who need them most," Color CEO Othman Laraki said in a statement.
"Just as we've seen digital transformations in other parts of our lives, the distributed network approach Color has built will improve the way we experience healthcare in the future," said Steve Jang, founder and managing partner of Kindred Ventures. "The hosted software and data infrastructure that Color provides has created a new normal: All essential care should be accessible, decentralized, and delivered within companies, schools, and communities instantly."