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What smart money is saying about BillionToOne, Inc.United States flag

BLLN · Healthcare · Medical - Diagnostics & Research · Market cap $4.63B

2 funds in our archive have pitched BillionToOne, Inc. — most recently Baron Health Care Fund in March 2026.

Company profile

BillionToOne, Inc. is a specialized diagnostics company that innovates by precisely quantifying biological data to create advanced molecular diagnostic solutions. Central to their operations is a cutting-edge molecular counting platform, meticulously engineered to identify and measure individual DNA molecules, thereby significantly enhancing the precision of disease detection. Their product portfolio includes: UNITY Complete: A non-invasive prenatal screen that assesses a fetus's risk for aneuploidies, recessive genetic conditions, and fetal antigens, all from a simple maternal blood sample. Northstar Select: A liquid biopsy test designed to pinpoint specific mutations present in tumors, encompassing deletions, insertions, and point mutations. Northstar Response: A diagnostic tool that enables continuous tracking of cancer progression through detailed methylation assessment. Established in 2016, BillionToOne, Inc. conducts its operations from its headquarters located in Menlo Park, California.

Fund coverage · 2 theses

  • Baron Health Care Fund
    March 2026

    BillionToOne is a differentiated diagnostics company with strong prenatal traction, early oncology potential, and attractive margins.

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  • Baron Global Opportunity Fund
    December 2025

    BillionToOne, Inc. is a diagnostics innovator with QCT-powered prenatal and oncology tests gaining share, strong margins, and early profitability.

    Read the full thesis

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