Bina Technologies Nets $6.25 Million in Series B Round

3-31-2013 8-07-28 PM

Big data genomics firm Bina Technologies raises $6.25 million in a funding round led by Sierra Ventures. Bina was founded in 2011 with a mission of developing a big data platform built on the analysis of genomic information. The company hopes to monetize this effort by distributing not the information it has collected, but the entire big data model.

The announcement included news that Stanford University has signed on as an early customer after piloting Bina’s platform. The university will sequence hundreds of whole human genomes, each in just four hours. Sequencing a whole human genome was a process that used to take days, or even weeks of analysis.

“Bina is extremely well positioned as the fast, accurate, and scalable choice for genomic analysis that is keeping up with the rapid pace of innovation occurring in DNA sequencing today.” – Michael Snyder, MD, Chair of the Genetics Department, Stanford University.

The Medical College of Wisconsin has also implemented Bina’s solution to screen high risk newborns for genetic disorders in the neonatal intensive care unit. The processing time for identifying genetic disorders dropped from 334 hours to just 39 hours after implementing Bina’s platform.

With the funding, Bina plans to more than double its current employee head count, adding staff to the sales, marketing, development, and service departments.

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