10x Genomics

10x Genomics designs and manufactures tools that let researchers analyze biological systems one cell at a time and map gene activity in tissue, sold as instruments, consumables and analysis software to academic, government and biopharma labs. It was founded in 2012 by Serge Saxonov, Ben Hindson and Kevin Ness, who had worked together at QuantaLife before Bio-Rad acquired it; Saxonov was earlier the founding architect and director of R&D at 23andMe. The company is based in Pleasanton, California, where it opened a manufacturing facility in 2019.

The company financed itself privately through convertible preferred stock in Series A-1, A-2, B, C, D and D-1 rounds. Its prospectus states that through June 30, 2019 it had raised $243.2 million net from preferred stock sales. The Series C was issued between February 2016 and March 2017, the Series D in April 2018 and the Series D-1 in October 2018. Purchases disclosed for the C through D-1 rounds include $48.8 million from Fidelity, $10.75 million from Paladin Capital Group, $8.0 million from Venrock and $7.9 million from Foresite Capital Management. At the IPO, Foresite held 18.3% of shares, Venrock 17.0%, Paladin 11.5% and Fidelity 11.3%, with Venrock's Dr. Roberts and Paladin's Dr. Conley on the board and John Stuelpnagel as chairman.

10x Genomics priced its IPO at $39.00 per share in September 2019, with expected net proceeds of about $357.5 million; Wikipedia reports $390 million raised. Revenue grew from $71.1 million in 2017 to $146.3 million in 2018, and the 2025 Form 10-K reports $642.8 million for 2025, up 5% from $610.8 million in 2024. The company spent years in patent litigation with Bio-Rad, including a 2018 jury verdict of $24 million in damages, before the two settled all disputes in July 2021, and it settled with Vizgen in February 2025.

The company is an example of a life-science tools business reaching liquidity in about seven years from founding. Its largest pre-IPO holders were a mix of venture firms (Venrock), crossover and healthcare growth investors (Foresite, Fidelity) and a security-focused firm (Paladin), which bought in during the Series C and D rounds when revenue was scaling quickly. Holders who are named on this site, such as ARCH Venture Partners or Casdin Capital, do not appear in the IPO prospectus's disclosed purchaser tables.