# Genemod

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/genemod

- Industry: Software
- Headquarters: Edmonds, US
- Website: www.genemod.net
- Total disclosed funding: $6.2M
- Latest round: Seed (May 2, 2023)
- Investors on record: 8

## About

Based in the US, Genemod Inc. is a software company specializing in cloud-based solutions for laboratory management, enhancing productivity and compliance in scientific research.Genemod Inc. was founded in 2018 in Edmonds, US, focusing on developing Laboratory Information Management Systems (LIMS) and Electronic Lab Notebooks (ELN). The company has raised USD 4.5 mn in Seed funding as of May 2023, co-led by Defy.vc and LDV Partners, with participation from Cercano Management and Dolby Family Ventures. Jacob Lee, who is the CEO, co-founded the company alongside Jin Choe. The total amount raised by Genemod to date is USD 4.5 mn, with a current company valuation of USD 14.87 mn.Genemod specializes in cloud-based Laboratory Information Management Systems (LIMS) and Electronic Lab Notebooks (ELN) designed to enhance lab management and facilitate scientific research. Their primary offerings include solutions that allow for the centralization of laboratory data, management of inventory, equipment tracking, and compliance with regulatory standards, all tailored specifically for the biotechnology research and development sector. The platform is customizable, enabling users to adapt features to meet unique laboratory needs effectively. Genemod serves a diverse clientele, including academic institutions, pharmaceutical companies, and other biotech firms, primarily in North America and Europe, where there is a significant demand for advanced lab management tools.Genemod operates primarily on a subscription-based revenue model, offering tailored pricing plans for their LIMS and ELN solutions. Clients engage with the company directly, subscribing to services that best fit their laboratory requirements, which may include various features such as inventory management and compliance tools. This direct-to-consumer approach ensures that clients receive continuous updates and support as part of their subscription package. Specific pricing structures for their services reflect the customizable nature of their offerings, as clients can select features based on their individual operational needs. Through these structured transactions, Genemod generates revenue while fostering long-term relationships with clients in the biotech industry.In May 2023, Genemod Inc. raised USD 4.5 mn in Seed funding, which will be utilized to further advertise its brand. The company aims to design and launch new products aimed at enhancing laboratory efficiency by the end of 2024. Genemod also plans to expand its presence in international markets, specifically targeting Europe and Asia by late 2025, leveraging recent funding to support these advertising and expansion initiatives.

## Funding rounds

- Seed, May 2, 2023, $4.5M — Dolby Family Ventures, LDV Management, Defy., Cercano Management
- Seed, Oct 13, 2020, $1.7M — Canaan Partners, Omicron Capital, Defy., Unpopular Ventures, Underdog Labs

## Investors

- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Seed
- Omicron Capital — Seed
- Defy. (https://capitalatlas.ai/funds/defy) — Seed
- Unpopular Ventures (https://capitalatlas.ai/funds/unpopular-ventures) — Seed
- Underdog Labs (https://capitalatlas.ai/funds/underdog-labs) — Seed
- Dolby Family Ventures (https://capitalatlas.ai/funds/dolby-family-ventures) — Seed
- LDV Management (https://capitalatlas.ai/funds/ldv-management) — Seed
- Cercano Management (https://capitalatlas.ai/funds/cercano-management) — Seed