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10x Genomics was founded in 2012 by Serge Saxonov, Ben Hindson and Kevin Ness to create advanced testing equipment for use in cellular biology. Prior to starting the company, Saxonov was the founding architect, and director of research and development at 23andMe. Ness left 10x Genomics in December 2016 and in 2018, Justin McAnear, Tesla 's former finance chief joined the company as CFO.
In August 2018, the company announced its first acquisition, Epinomics, a biotechnology company focused on the development of new techniques for epigenetics research. Four months later, 10x Genomics acquired Spatial Transcriptomics, a biotechnology company working in the field of spatial genomics. In November 2018, 10x Genomics announced expansion plans including opening a manufacturing facility in Pleasanton, California in early 2019.
10x Genomics announced its initial public offering on September 12, 2019, raising $390M. The company had revenues of $3.32 million in 2015, $27.48 million in 2016, $71.18 million in 2017, $145 million in 2018, and $618.7 million in 2023.