Techcyte, a leading provider of AI-powered digital diagnostics for anatomic and clinical pathology, today announced the completion of a $15 million capital raise led by Van Tuyl Companies, with participation from existing investors Zoetis Inc. (“Zoetis”) and Mayo Clinic.
This funding reinforces Techcyte’s ability to execute on its strategic priorities and supports its path to profitability. Techcyte’s veterinary business is currently profitable, and the company expects its environmental and human segments to reach profitability by next year. This progress comes as diagnostic laboratories worldwide face increasing pressure to deliver accurate results while managing constrained resources, rising test volumes, and ongoing workforce shortages.
At the same time, digital pathology is emerging as a viable path to improved operational efficiency while expanding access to diagnostic expertise through remote workflows. Techcyte’s Fusion platform is designed to support this shift by integrating AI, digitized workflows, and interoperability with laboratory systems in order to streamline case review, standardize processes, and enable more scalable diagnostic operations.
To further accelerate these capabilities, this funding round also includes access to Mayo Clinic’s Safe Harbor dataset of over 17 million de-identified slides and pathology reports. This data will be used to immediately enhance Techcyte’s ability to deliver impactful AI solutions in the Fusion platform.
“Laboratories are being asked to do more with less, while maintaining high standards for quality and rapid turnaround times,” said Ben Cahoon, CEO of Techcyte. “Techcyte Fusion® directly addresses these challenges through unified AI-enabled pathology workflows. This investment allows us to continue growing the Fusion platform and extending the world-class capabilities that were built in collaboration with Mayo Clinic. We are grateful to Van Tuyl Companies for leading this round and to Mayo Clinic and Zoetis for their continued collaboration and support.”
By applying AI to routine diagnostic workflows, Techcyte aims to support laboratory professionals in delivering timely, consistent, and increasingly accessible results across diverse care settings.
Canaccord Genuity LLC served as exclusive financial advisor to Techcyte on the transaction.
###
Mayo Clinic Disclosure
Mayo Clinic has a financial interest in the technology referenced in this press release. Mayo Clinic will use any revenue it receives to support its not-for-profit mission in patient care, education and research.