Invitae
Healthtech/geneticsUSA
New to Unitard
π Dead / Bankrupt
PeakΒ $7 BillionToday
~-97%
from peak
- π¦Became a unicorn2017
- πPeak valuation$7 Billion β21
- πBecame a UnitardFeb 2024
- πΈLast valuationWiped out
π₯ Raised & burned
$206M
Total raised
$40K/day
Burned Β· 14.1y alive
Funding: Crunchbase/PitchBook
Current status
Chapter 11 (Feb 2024); assets to Labcorp $239M
The rise & fall
8 moments Β· 2010β2024The key moments, with employee sentiment along the way.
2010
2010
Founded
Randy Scott and Sean George set out to bring genetic testing into mainstream medicine.
Wikipedia
2017
2017
Joins the unicorn club
The market cap crosses $1B as test volumes climb.
Macrotrends
2021
2021
The peak: $7B market cap$7B
The pandemic genomics boom carries the stock above $50 and the company past $7B.
Macrotrends
2021β23
2021β23
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
2022β24
From the inside Β· Glassdoor reviews, 2022β24
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
Feb 2024
Chapter 11 β joins the Unitard Club π
Files in February 2024 and is delisted; the debt from the buying spree proves unpayable.
SEC filing
2024
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
π¬ 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 GeorgeCo-founder & CEONot on record
- Randy Scottco-founder; CEO 2012-2017, executive chairman to 2019CEO and Chairman at Genomic Life
- Michele Cargillco-founderPrincipal at MACAW Services, LLC
- Alex Furmanco-founderStrategic Advisor at 8x8
- Mat Falkowskico-founderAdvisor at Wednesday
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
