About this raise

20/20 GeneSystems, with a valuation of $58.4 million, is raising funds on StartEngine. It is a diagnostics company with a successful track record in cancer detection with its AI-powered multi-cancer blood test, OneTest. The company has also launched CoronaCheck, its FDA-authorized antibody lab test for COVID-19 antibodies. The business reported revenues of $9 million in 2021, a 300% increase over 2020 revenues. Jonathan Cohen founded 20/20 GeneSystems in 2000. The current crowdfunding campaign has a minimum target of $9,995.40 and a maximum target of $4,999,995. The campaign proceeds will be used to expand the portfolio of tests and grow revenues.

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Investment Overview

Invested this round: $232,704

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
08/16/2022
Close Date
12/21/2022
Min. Goal
$9,995
Max Goal
$4,999,995
Min. Investment

$500

Security Type

Convertible Note

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$58,400,000

Discount

10%

Company & Team

Company

Year Founded
2000
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Rockville, Maryland
Business Type
Growth
Company Website
Visit Website

Team

Employees
35
Prior Founder Exits?
No
Founder Name
Jonathan Cohen
Title
President & CEO

Financials

 Revenue +313% YoY
$9,622,332
 Monthly Burn
Profitable
 Cash on Hand
$3,354,469
 Gross Margin
49%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$9,622,332

$2,330,528

COGS

$4,927,374

$1,453,354

Tax

$0

$0

 

 

Net Income

$2,071,777

$-2,021,826

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,354,469

$3,468,192

Accounts Receivable

$4,215,465

$205,071

Total Assets

$10,272,281

$4,677,734

Short-Term Debt

$0

$103,860

Long-Term Debt

$0

$40,247

Total Liabilities

$0

$144,107

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Ratings Kingscrowd Startup Rating Methodology Article

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Analyst Report Analyst Report Methodology Article

20/20 GeneSystems offers an affordable blood test that screens for multiple types of cancer. It also has access to the medical records of more than 200,000 patients with known cancer outcomes. Its testing technology and machine learning algorithms are innovative -- but it's not clear if there's enough market demand for its product.

Company Funding & Growth

Funding history

Total Prior Capital Raised
$9,779,286
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/14/2025 Wefunder $69,859,000 $555,661 Equity - Preferred Funded RegCF
12/21/2022 StartEngine $58,400,000 $232,704 Convertible Note Funded RegCF
06/27/2021 StartEngine $38,500,000 $2,903,017 Equity - Preferred Funded RegA+
11/01/2020 SeedInvest $38,500,000 $3,792,229 Equity - Preferred Funded RegA+
12/14/2017 Microventures $23,000,000 $1,064,807 Equity - Preferred Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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20/20 GeneSystems on StartEngine 2022
Platform: StartEngine
Security Type: Convertible Note
Valuation: $58,400,000

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