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Invitae

Healthtech/geneticsUSA
New to Unitard
πŸ’€ Dead / Bankrupt
PeakΒ $7 BillionToday
~-97%
from peak
  1. πŸ¦„
    Became a unicorn
    2017
  2. πŸ“ˆ
    Peak valuation
    $7 Billion ’21
  3. πŸ’”
    Became a Unitard
    Feb 2024
  4. πŸ’Έ
    Last valuation
    Wiped out
Capital raised
$206M
Total raised
$40K/day
Raised per day

Total raised averaged per day over approximately 14.1 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology

Funding: Crunchbase/PitchBook
Current status
Chapter 11 (Feb 2024); assets to Labcorp $239M

The rise & fall

8 moments Β· 2010–2024

The key moments, with employee sentiment along the way.

2010
Founded
Randy Scott and Sean George set out to bring genetic testing into mainstream medicine.
Wikipedia
2017
Joins the unicorn club
The market cap crosses $1B as test volumes climb.
Macrotrends
2021
The peak: $7B market cap$7B
The pandemic genomics boom carries the stock above $50 and the company past $7B.
Macrotrends
2021–23
The acquisition spree bill comes due
Deal after deal piles debt onto an unprofitable testing model; when the pandemic boom fades, the cash gets tight.
SEC filing
From the inside Β· Glassdoor reviews, 2022–24
Glassdoor reviewers watched it coming: a buying binge leadership never integrated, then reorgs that were really layoffs β€” including a roughly 1,000-person cut in 2022. Employees recounted colleagues logged out of their computers mid-task, some mid-call with patients.
Feb 2024
Chapter 11 β€” joins the Unitard Club πŸ’”
Files in February 2024 and is delisted; the debt from the buying spree proves unpayable.
SEC filing
2024
Labcorp wins the assets at auction$239M
The bankruptcy auction ends with Labcorp taking Invitae's assets for $239M.
Reuters
$6.79Bof peak value erased Β· 14 years

πŸ’¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—; dated facts carry their source.

How it happened

Invitae aimed to make genetic testing mainstream, with its market cap topping $7B in 2021 as shares traded above $50. An acquisition spree loaded the balance sheet with debt against an unprofitable testing model after the pandemic, and Invitae filed for Chapter 11 in February 2024 and was delisted, with Labcorp winning its assets at auction for $239M.

Source: SEC filings; delisted

Where they went

  • Sean George
    Co-founder & CEO
    Not on record
  • Randy Scott
    co-founder; CEO 2012-2017, executive chairman to 2019
    CEO and Chairman at Genomic Life
    LinkedIn β†—
  • Michele Cargill
    co-founder
    Principal at MACAW Services, LLC
    LinkedIn β†—
  • Alex Furman
    co-founder
    Strategic Advisor at 8x8
    LinkedIn β†—
  • Mat Falkowski
    co-founder
    Advisor at Wednesday
    LinkedIn β†—

Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.

Disclosed investors (14)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

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πŸ¦„