The company said the funding will support international expansion of its FebriDx rapid point-of-care test and its US clinical trial.
The Stockholm-based company said it will use the funds to develop its metabolism-based liquid biopsy platform.
The financing round comes as Color expands its partnerships with healthcare systems and builds out a national genetic counseling resource for NIH's All of Us program.
Of the 39 deals included in the analysis, only three exceeded $100 million in value, with the rest having significantly smaller price tags or prices that were not disclosed.
To market its analyte specific reagents, syndromic enteric panels, and other tests, the firm is building a US-based sales organization.
The funding will be used to bring to market Oklahoma City-based Progentec's products for CLIA labs, as well as its digital technologies for managing lupus.
While it continues to seek investments, the firm is also making preparations for an initial public offering on the Nasdaq First North exchange.
The company will use the proceeds to strengthen its balance sheet and support the commercial launch of new products and development activities over the coming year.
The company has raised $30 million to date to fund development and commercialization of its molecular diagnostic test to predict response to anti-TNF therapies.
The firm did an initial close of its Series A financing round and will pursue additional investments during Q1 2020 when the round is anticipated to close.