# Cytovale

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cytovale

- Industry: Biotechnology
- Headquarters: South San Francisco, US
- Website: www.cytovale.com
- Total disclosed funding: $238M
- Latest round: Series D (Oct 10, 2024)
- Investors on record: 10

## About

Based in the US, Cytovale, Inc. operates in the medical diagnostics field, focusing on innovative solutions to enhance sepsis detection and management in emergency healthcare settings.Cytovale, Inc. specializes in developing and commercializing diagnostic tools, particularly the IntelliSep Sepsis Test. Founded in 2013 in South San Francisco, California, the company has successfully raised funding through several rounds, with its most recent being a Series D round in October 2024, where it garnered USD 100 mn led by Sands Capital Ventures. The company was co-founded by notable individuals Ajay Shah, Dino Di Carlo, Henry Tse, and Mara MacDonald, with Ajay Shah currently serving as CEO.Cytovale specializes in the development and commercialization of innovative medical diagnostics, focusing primarily on their flagship product, the IntelliSep Sepsis Test. This FDA-cleared in vitro diagnostic test operates on a proprietary medical device designed to rapidly risk-stratify adult patients presenting with signs and symptoms of infection in emergency department settings. The IntelliSep test analyzes the biomechanical properties of white blood cells to assess immune activation and provides critical test results in approximately 8 minutes, enabling healthcare professionals to identify the likelihood of sepsis with organ dysfunction occurring within three days. The primary end users of this solution are healthcare providers, including physicians, nurses, and laboratorians, who utilize the technology to improve patient outcomes by facilitating timely interventions. Cytovale's products are primarily marketed in the United States, where they serve hospitals and emergency departments across various healthcare systems.Cytovale generates revenue through direct sales of the IntelliSep Sepsis Test and its accompanying medical device to healthcare institutions, such as hospitals and emergency departments. The transaction structure is based on a business-to-business (B2B) model, where healthcare providers purchase the test kits and devices for clinical use. This involves upfront costs associated with acquiring the IntelliSep system and consumables necessary for testing. While specific pricing details are not disclosed, the sales model indicates that healthcare facilities invest in these diagnostic tools to enhance their capabilities in sepsis detection and treatment. The focus on timely and actionable results positions Cytovale's offerings as essential components of emergency care, ultimately contributing to improved operational efficiencies and patient care outcomes in the healthcare sector.In October 2024, Cytovale, Inc. raised USD 100 mn in Series D funding led by Sands Capital Ventures, with participation from new investor CPP Investment Board and other returning investors. The company plans to utilize this funding to expand the commercial reach of IntelliSep to additional hospital emergency departments and health systems across the country. By targeting new geographic regions for growth, Cytovale aims to enhance its presence in the medical diagnostics market.

## Funding rounds

- Series D, Oct 10, 2024, $100M — Norwest Venture Partners, CPP Investment Board, Breakout Ventures, Sands Capital Alternatives, Global Health Investment Advisors
- Series C, Oct 24, 2023, $111M — Norwest Venture Partners, Sands Capital Alternatives, Global Health Investment Advisors
- Series B, Oct 30, 2019, $15M — Western Technology Investment, Biomedical Advanced Research and Development Authority, Breakout Ventures, Blackhorn Ventures
- Series B, Dec 12, 2017, $7.3M — IT-Farm Corporation, Breakout Ventures, Blackhorn Ventures
- Series A, Jun 10, 2014, $4.3M — Dolby Family Ventures
- Seed, Nov 15, 2013 — Breakout Ventures

## Investors

- Breakout Ventures (https://capitalatlas.ai/funds/breakout-ventures) — Seed, Series B, Series D
- Dolby Family Ventures (https://capitalatlas.ai/funds/dolby-family-ventures) — Series A
- IT-Farm Corporation (https://capitalatlas.ai/funds/it-farm-corporation) — Series B
- Blackhorn Ventures (https://capitalatlas.ai/funds/blackhorn-ventures) — Series B
- Western Technology Investment (https://capitalatlas.ai/funds/western-technology-investment) — Series B
- Biomedical Advanced Research and Development Authority — Series B
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series C, Series D
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series C, Series D
- Global Health Investment Advisors — Series C, Series D
- CPP Investment Board — Series D