Techcyte announces $15 Million Capital Raise Led by Van Tuyl Companies to Support Growth and Path to Profitability

Orem, Utah — 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 Mayo Clinic and Zoetis Inc. (“Zoetis”).

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 dataset of over 17 million de-identified slides and pathology reports. This data will be used to 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 advisor to Techcyte on the transaction.

About Techcyte

Techcyte is transforming the practice of pathology through a unified, AI-powered digital platform that streamlines complex workflows, integrates with core lab systems, and enhances communication across the lab.

By partnering with leading laboratories, scanner manufacturers, diagnostic hardware providers, and AI developers, we deliver a unified digital pathology platform to labs and clinics around the world, furthering our mission to positively impact the health of humans, animals, and the environment.

Visit techcyte.com for more information.

Techcyte’s anatomic and clinical pathology platform is for Research Use Only in the United States.

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.