Funding profile · Digital genomics delivery

Clear Genetics

About $2.5 million of venture money went in. $50,062,000 came out in cash and Invitae stock in November 2019. Clear Genetics never filed with the SEC in its own name, so its whole financial record sits inside its buyer’s filings.

$50.06MTotal purchase price recorded by Invitae, Nov 2019
$2.5MVenture capital raised before the sale, reported
$26.9MGoodwill booked, written to zero in Q2 2022
1,462,922Invitae shares issued to former holders

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2016 Founded Not disclosed Moran Shochat Snir, Guy Snir, Prof. Mordechai Shohat, MD Press reports
Winter 2017 Y Combinator batch W17 Not disclosed separately Y Combinator Company
By Aug 2017 Seed $2.5M reported; $2.52M per PitchBook Y Combinator, iAngels, Meron Capital CNBC, Globes
Nov 12, 2019 Acquired by Invitae Corporation (NYSE: NVTA) $50,062,000 as booked Cash of $24,841K and 1,462,922 shares 8-K and 10-K
Total Regulation D offerings on file $0 No Form D was ever filed SEC EDGAR

What the filings show

Invitae Corporation · Form 8-K · filed Nov 13, 2019

Event date
Signed Nov 8, 2019; mergers completed Nov 12, 2019
Structure
Catalina Merger Sub A Inc. into Clear Genetics, then Clear Genetics into Catalina Merger Sub B LLC; intended to qualify under Section 368(a)
Consideration
Approximately $50.0 million: about $25.0 million cash and the rest in Invitae common stock, subject to a working capital adjustment
Shares
1,462,922, priced on the average close for the 20 trading days before signing
Hold back
About $0.3 million of cash and 423,066 shares, for indemnification
Exemption
Section 4(a)(2) of the Securities Act of 1933, not Regulation D
Filing
SEC EDGAR, Invitae Corp, CIK 0001501134

Invitae Corporation · Form 10-K for FY2019 · filed Mar 2, 2020

Purchase price
$50,062K total: cash transferred $24,645K, hold back cash $196K, hold back common stock $7,294K, common stock transferred $17,927K
Assets acquired
Cash $599K, accounts receivable $114K, developed technology $28,293K
Liabilities assumed
Other current liabilities $70K, deferred tax liability $5,800K
Goodwill
$26,926K, not deductible for tax purposes
Intangible life
Developed technology valued by an income approach, eight year useful life
Expensed separately
Post-combination expense $640K, transaction costs $0.4 million
Filing
SEC EDGAR, accession 0001501134-20-000013

Reading the filings

  1. Roughly twenty times the money in.Reported venture capital was about $2.5 million. The booked purchase price was $50,062,000, a multiple of about 20 on invested capital before any split among the holders.
  2. There is no Form D, and that is not an oversight.An EDGAR company search for Clear Genetics returns no matching company, and a full text search restricted to Form D returns zero hits. Every EDGAR document naming Clear Genetics was filed by Invitae. The 8-K states the acquisition shares were issued under Section 4(a)(2), the private placement exemption that carries no Regulation D notice.
  3. The consideration was an almost even split.Cash of $24,645K plus $196K held back is $24,841K, or 49.6 percent of the price. Stock of $17,927K plus $7,294K held back is $25,221K, or 50.4 percent. Dividing the stock consideration by 1,462,922 shares implies about $17.24 per share of acquisition date fair value.
  4. Half the price was goodwill.The only identifiable intangible was $28,293K of developed technology. Goodwill of $26,926K was 53.8 percent of the total, which Invitae said related “primarily to expansion of the acquired technology into all realms of genetic testing.” Net identifiable assets were $23,136K. A company with eight US employees is bought for what it might become.
  5. The tax line softened the cost.Assuming a $5,800K deferred tax liability let Invitae release part of its valuation allowance and book a $5.8 million income tax benefit in November 2019. Against a $50.1 million price that is a real offset, and it is the kind of detail only a public acquirer has to show.
  6. All of it was written off two and a half years later.In the quarter ended June 30, 2022 Invitae took its goodwill from $2,283,059K to zero with a $2.3 billion impairment charge. The $26.9 million from Clear Genetics was inside that number. It was a company wide write down after a sustained fall in the share price, not a verdict on this product.

Commercial signals

Signal Detail Source type
Customers Geisinger (MyCode) and Huntsman Cancer Institute named at announcement; cascade testing bot reported at Cleveland Clinic, Virginia, Johns Hopkins and Stanford. Independent
Channel Gia was already running inside Invitae’s direct channel before the deal, after about a year of work together. Company-stated
Partnership June 2018 joint offering with GeneMatters, routing complex cases from the chatbot to live telehealth genetic counselors. Partner-stated
Published evidence Three indexed papers: J Genet Couns 2019, Obstet Gynecol 2021 (95,166 patients invited across 180 clinics) and JAMIA 2024. Public record
Litigation OptraHealth and Invitae sued each other over Gia in 2022 and settled that December with a license to Invitae and its customers. Public record
Survival Invitae filed Chapter 11 on Feb 13, 2024. Labcorp bought select assets for $239 million cash, approved May 7 and closed Aug 5, 2024, and was still marketing Gia by name in May 2025. Public record

What to watch

  • Whether Labcorp reports anything about Gia revenue or adoption. Invitae never broke it out.
  • Nest Genomics, founded by the same two operators in January 2022, which raised an $8.5 million seed round. A Form D there would be the next filing to read.
  • The hold back, due to release around November 2020, which was never separately reported.
  • Whether the eight year life on the developed technology survived the 2022 impairment testing.

The Clear Genetics story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • TAXA Biotechnologies: Shared investor: Company-Stated Partners. The company behind the first synthetic biology crowdfunding campaign
  • Cambridge Cancer Genomics: Shared investor: Company-Stated Partners. A Y Combinator backed British company that used repeat blood draws and machine learning to tell an oncologist when a cancer drug had stopped working
  • One Codex: Shared investor: Company-Stated Partners. A cloud platform that takes a raw sequencing file and names the microbes inside it
  • Perception Biosystems: Shared investor: Company-Stated Partners. A Y Combinator company that set out to build a robotic lab so a rare disease gene therapy could be made faster and far more cheaply

Sources

  1. Public recordInvitae Corporation Form 8-K, merger agreement and closing with Clear Genetics, Inc.SEC · Nov 13, 2019
  2. Public recordInvitae Corporation Form 10-K for FY2019, business combination and goodwill notesSEC · Mar 2, 2020
  3. Public recordInvitae Corporation Form 10-K for FY2022, goodwill impairment noteSEC · Feb 28, 2023
  4. Public recordSEC EDGAR company and full text searches for Clear Genetics, Inc.SEC · Sep 23, 2026
  5. Public recordInvitae Files for Voluntary Chapter 11 Protection; Pursues Sale ProcessSEC EDGAR, Exhibit 99.1 · Feb 13, 2024
  6. IndependentStart-up Clear Genetics is building chatbots to help you understand the resultsCNBC · Aug 7, 2017
  7. IndependentInvitae buys chatbot co Clear Genetics for $50mGlobes · Nov 14, 2019
  8. IndependentGeisinger Deploys ‘Gia’ ChatbotGenomeWeb · Sep 25, 2018
  9. IndependentInvitae, OptraHealth Resolve Chatbot Patent DisputeGenomeWeb · Dec 2022
  10. CompanyGeneMatters and Clear Genetics partnershipPR Newswire · Jun 13, 2018
  11. IndependentLabcorp to acquire Invitae’s assets for $239MMedTech Dive · Apr 25, 2024
  12. IndependentNest Genomics Building EHR-Integrated Clinical Decision Support for Genetics-Informed CareGenomeWeb · Oct 2022
  13. CompanyLabcorp Finalizes Acquisition of Select Assets of InvitaeLabcorp · Aug 5, 2024
  14. CompanyPrecision medicine and the future of healthcare: Four benefits of AI chatbots in genetic testingLabcorp · May 29, 2025

Compiled from SEC and other public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; Clear Genetics filed none, and amounts here come from the acquirer’s reports. Healthcare Venture Capital Fund holds no position in Clear Genetics, Invitae or Labcorp. This page is not an offer to sell or a recommendation to buy any security.