About this raise

20/20 GeneSystems, with a valuation of $69.86 million, is raising funds on Wefunder. It is a diagnostics company with a successful track record in cancer detection with its AI-powered multi-cancer blood test, OneTest. OneTest is a multi-cancer early detection test that measures antigens that tend to rise early in tumor development and enable early detection of cancer. The business has multiple issued or allowed patents in the US and East Asia and has partnered with a leading cancer center and a major supermarket chain for in-pharmacy testing. Jonathan Cohen founded 20/20 GeneSystems in May 2000. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5 million. The campaign proceeds will be used for sales, marketing, R&D, and operational and administrative staffing to enable growth.

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Investment Overview

Invested this round: $555,661

Deal Terms

Total Commitments

Platform
Wefunder
Start Date
05/06/2024
Close Date
02/14/2025
Min. Goal
$50,000
Max Goal
$5,000,000
Min. Investment

$500

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.34

Pre-Money Valuation

$69,859,000

Company & Team

Company

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

Team

Employees
24
Prior Founder Exits?
No
Founder Name
Jonathan Cohen
Title
President & CEO

Financials

as of Fiscal Year 2023
 Revenue -87% YoY
$1,424,304
 Monthly Burn
$285,000
 Runway
11.5 months
Gross Margin
8%

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$1,424,304

$11,059,145

COGS

$1,315,166

$5,937,398

Tax

$0

$0

 

 

Net Income

$-6,391,309

$2,186,875

Summary Balance Sheet

FY 2023 FY 2022

Cash

$4,089,461

$8,807,575

Accounts Receivable

$68,834

$764,924

Total Assets

$6,367,828

$12,215,021

Short-Term Debt

$1,011,623

$1,630,171

Long-Term Debt

$1,068,713

$1,210,584

Total Liabilities

$2,080,336

$2,840,755

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$5,495,980
VC Backed?
No
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 Wefunder 2024
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $69,859,000
Price per Share: $5.34

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