Toronto-based genomic health software leader PhenoTips has closed a $2 million seed round extension to drive international expansion and scale its enterprise genomic health record platform.
The all-equity round was led by GreenSky Ventures Accelerator Fund VI, with participation from the Ontario Centre of Innovation (OCI). This extension follows PhenoTips’ $2.5 million seed round in 2021.
Since its original seed raise, PhenoTips has tripled its annual recurring revenue and expanded to 30 institutional customers, including hospitals, research programs, and genomics service providers, across Canada, the UK, and Europe. The UK now accounts for a significant share of company revenue, underscoring its international market strength.
Founded in 2014 as part of a University of Toronto and The Hospital for Sick Children research program, PhenoTips has become the world’s first Genomic Health Record, integrating seamlessly with electronic health record systems to streamline genetic workflows. The platform supports the management of family data, deep phenotyping using the Human Phenotype Ontology, cancer risk assessment, and genomic data analysis. With PhenoTips’ platform, clinicians can easily record, standardize, and share comprehensive patient data for hereditary conditions.
“GreenSky is thrilled to be part of a team with such deep experience in the space,” said Marian Hoffmann, Managing Partner at GreenSky Ventures. “PhenoTips is well-positioned in a growing, high potential market as the healthcare sector continues to focus on integrating genomics into routine care and on consolidating genomic data.”
“This round lays the foundation for our global expansion and the scaling of our technology into mainstream clinical practice,” said Orion Buske, CEO of PhenoTips. “We are building the infrastructure for the next era of precision medicine, one that brings genomic insights into everyday clinical care.”
This funding round comes as the global genomics market continues to expand rapidly, driven by increasing clinical adoption and government support. PhenoTips plans to leverage its UK success to enter the US market, building on recent milestones.
Betakit released news of this announcement recently. You can access the Betakit full article here.
About PhenoTips:
PhenoTips’ Genomic Health Record is the leading software solution for medical genetics. Founded in 2014 out of a research project at The Hospital for Sick Children (SickKids) and the University of Toronto, PhenoTips’ software addresses the challenges commonly faced in medical genetics with a single solution, while preparing clinics for the proliferation of genetic testing into mainstream healthcare. PhenoTips’ solutions support multiple Canadian provincial health authorities, UK NHS Trusts, leading hospitals in the USA, and genetics industry leaders. Learn more about PhenoTips at phenotips.com.
About GreenSky Ventures:
GreenSky Ventures is a Toronto-based venture capital firm investing in early-stage Canadian technology startups. Through its six affiliated GreenSky Accelerator Funds I–VI, the firm provides capital and strategic guidance to high-growth potential companies. Learn more at greensky.vc
