CytoVale Valuation, Funding & Investors
CytoVale is valued at $25M as of December 2017.
Last CytoVale valuation
$25M
Series B · Dec 2017
Last CytoVale funding round
$100M
Series D · Oct 2024
Cumulative funding CytoVale raised
$211M
across 5 funding rounds
Key investors in CytoVale
Breakout Ventures
Alumni Ventures
Norwest
Sands Capital Ventures
Blackhorn Ventures
Global Health Investment Corporation
About CytoVale
CytoVale is a San Francisco-headquartered medical technology company founded in 2013 that pioneers early detection of immune-mediated diseases through cell mechanics and machine learning. Its CytoPLUS assay analyzes leukocyte deformability to diagnose conditions like sepsis and lupus from peripheral blood samples in under 20 minutes.
Founded
2013
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$25M (Dec 2017)
Sectors
CytoVale Valuation
CytoVale is currently valued at $25M, based on its Series B in December 2017.
The $7M round was led by Blackhorn Ventures, with participation from Breakout Ventures and IT-Farm.
CytoVale's valuation has grown 2.3x from $11M at its Series A in June 2014 to $25M in December 2017, across 2 priced rounds.
CytoVale valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2017 | Series B | $25M |
| Jun 2014 | Series A | $11M |
CytoVale Funding History
CytoVale has raised a total of $211M across 5 funding rounds.
CytoVale's first fundraising round was a $4M Series A in June 2014. The most recent completed round was a $100M Series D in October 2024.
CytoVale funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2024 | Series D | Alumni Ventures (lead); Sands Capital Ventures (lead); Breakout Ventures; CPP Investments; Norwest; Global Health Investment Corporation | $100M | - | CytoVale is a commercial-stage medical diagnostics company developing early detection technologies for fast-moving and immune-mediated diseases, with its flagship FDA-cleared IntelliSep test providing sepsis risk assessment in about eight minutes from a standard blood draw. The test measures dysregulated immune responses to infection, aiding emergency departments in triaging patients and addressing sepsis, the leading cause of hospital deaths in the U.S. Launched commercially in August 2023, IntelliSep has shown early clinical success in saving lives and costs within its first 12 months. On October 10, 2024, CytoVale raised $100 million in Series D funding led by Sands Capital Ventures, with participation from Alumni Ventures, Breakout Ventures, CPP Investments, Norwest Venture Partners, and Global Health Investment Corporation. This follows a $84 million Series C round on November 15, 2023, led by Norwest with Sands Capital and Global Health Investment Corporation, bringing total funding to approximately $120.7 million across 12 rounds. The Series D proceeds will accelerate commercial expansion of IntelliSep to more U.S. hospital emergency departments and health systems, building on real-world outcomes that attracted investors. CytoVale aims to make IntelliSep as standard as troponin tests for heart attacks or CT scans for strokes, given sepsis's higher prevalence. The company, based in San Francisco, continues to scale rapidly to meet demand from health systems tackling this deadly condition. |
| Nov 2023 | Series C | Alumni Ventures (lead); Norwest (lead); Sands Capital Ventures; Global Health Investment Corporation | $84M | - | Cytovale is a San Francisco-based commercial-stage medical diagnostics company focused on advancing early detection technologies for fast-moving and immune-mediated diseases. The company's flagship product is IntelliSep, an FDA-cleared rapid sepsis diagnosis test that assesses the body's immune response to infection using machine learning to characterize white blood cells' responses, generating a diagnostic result in under 10 minutes from standard blood draws. On November 15, 2023, Cytovale announced it had raised $84 million in Series C funding led by Norwest Venture Partners, with participation from new investors Sands Capital and Global Health Investment Corporation (GHIC), along with other new and existing investors and conversion of bridge notes. The funding brought Cytovale's total capital raised to more than $122 million. The company planned to use the proceeds to expand IntelliSep distribution to more hospital emergency departments and health systems across the United States, addressing the critical diagnostic lag time that makes sepsis the leading cause of death in U.S. hospitals. According to Cytovale, sepsis contributes to more than one-third of all in-hospital deaths, accounting for more than 350,000 deaths annually in the U.S., and is the number one cost of inpatient care. CEO Ajay Shah indicated the company was generating revenue at the time of the round but declined to provide specific figures. The company had previously raised $15 million in Series B funding in 2019 co-led by Breakout Ventures and Blackhorn Ventures. |
| Oct 2019 | Series B | GRIDS Capital; Breakout Ventures; Blackhorn Ventures; Western Technology Investment | $15M | - | Cytovale, a medical diagnostics company focused on early detection of sepsis, raised $7.4 million in an extension of Series B equity financing in October 2019. The round was co-led by existing investors Breakout Ventures and Blackhorn Ventures, with participation from Western Technology Investment, which also provided a venture debt facility. The company simultaneously expanded its partnership with the U.S. Department of Health and Human Services Biomedical Advanced Research and Development Authority (BARDA), securing additional funding valued up to $7.6 million to advance its early sepsis detection technology. Cytovale's platform aims to address sepsis, the leading cause of death in U.S. hospitals, by enabling rapid diagnosis in emergency departments. |
| Dec 2017 | Series B | Blackhorn Ventures (lead); Breakout Ventures; IT-Farm | $7M | $25M | CytoVale raised $7.25 million in a Series B venture funding round from Baidu Ventures, Blackhorn Ventures, Breakout Ventures, and Pactolus Ventures. The pre-money valuation stood at $25 million. This followed earlier funding including $2.28 million led by White Cloud Capital Advisors and Oxford Sciences Innovation with participation from Samsung NEXT Ventures, AXA Strategic Ventures, and IQ Capital Partners. The company has received additional non-dilutive funding such as $120,000 and grants from NSF and CDC, along with support from Becton Dickinson. CytoVale participated in accelerators like Boomtown HealthTech, receiving $20,000, and won $10,000 in the Cozad New Venture Competition. It joined the California Institute for Quantitative Biosciences in January 2017. CytoVale develops diagnostic technologies, later focusing on the IntelliSep platform for sepsis risk screening in emergency rooms. |
| Jun 2014 | Series A | Dolby Family Ventures (lead) | $4M | $11M | CytoVale raised $4.3 million in Series A funding on June 10, 2014, with a post-money valuation of $10.75 million. Dolby Family Ventures participated in the round alongside NetScientific, IT-Farm Corporation, and undisclosed investors. The company was developing diagnostics technology, including early work supported by BARDA's DRIVe program. CytoVale would later emerge as a leader in sepsis diagnostics with its FDA-cleared IntelliSep platform, which launched commercially in August 2023 and demonstrated a 97.5% negative predictive value in clinical studies. |
Who has invested in CytoVale?
11 investors have backed CytoVale across its funding rounds, including Breakout Ventures, Alumni Ventures, Norwest, Sands Capital Ventures, Blackhorn Ventures and Global Health Investment Corporation.
Lead investors include Alumni Ventures, Sands Capital Ventures, Norwest, Blackhorn Ventures and Dolby Family Ventures.
CytoVale Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Participant | Dec 2017 | |
| Washington, DC | 2 | Lead | Nov 2023 | |
| San Francisco, CA | 2 | Lead | Nov 2023 | |
| United States | 2 | Lead | Nov 2023 | |
| Denver, CO | 2 | Lead | Dec 2017 | |
| New York City, NY | 2 | Participant | Nov 2023 | |
 São Paulo | 1 | Participant | Oct 2019 | |
 Toronto | 1 | Participant | Oct 2024 | |
| San Francisco, CA | 1 | Lead | Jun 2014 | |
This data is available for Pro users. Sign up to see all 11 CytoVale investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCytoVale Competitors
CytoVale competitors include listed companies like Tobii and IMBdx, and private ones like ATTWILL Vascular Technologies, Axoft, Celloid and Gallant.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | - | - | $25M | - | |
| United States | Private | - | - | $25M | - | |
 Seongnam | Private | - | - | $25M | - | |
| San Diego, CA | Private | - | - | $25M | - | |
 Sweden | Publicly listed | $85M | - | $27M | 1.1x | |
| South Korea | Publicly listed | $4M | ($5M) | $27M | - |
CytoVale Public Comps
CytoVale is still privately-owned, but its public comps include NanoRepro, OncoSil Medical, Finemedix, Polyrizon, Vivos, Acarix, Medclair, Integrum, HeartBeam and Cheelcare.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5M | ($4M) | 3.1x | 0.8x | (4.1x) | (12.9x) | |||
| $1M | ($8M) | 17.3x | 13.3x | (2.7x) | (2.7x) | |||
| $7M | ($1M) | 3.2x | 2.4x | (18.9x) | - | |||
| - | ($3M) | - | - | (3.9x) | - | |||
| $68K | ($3M) | 318.6x | - | (6.9x) | - | |||
| $751K | ($5M) | 30.9x | 18.4x | (5.1x) | (6.8x) | |||
| $5M | $1M | 4.6x | 5.5x | 23.5x | 225.2x | |||
| $9M | ($4M) | 2.4x | - | (6.3x) | - | |||
This data is available for Pro users. Sign up to see all CytoVale competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CytoVale
| When was CytoVale founded? | CytoVale was founded in 2013. |
| Where is CytoVale headquartered? | CytoVale is headquartered in San Francisco, CA, United States. |
| Is CytoVale publicly listed? | No, CytoVale is a private, VC-backed company. |
| What is CytoVale's valuation? | CytoVale was last valued at $25M in its Series B in December 2017. |
| How much funding has CytoVale raised? | CytoVale has raised $211M across 5 funding rounds. |
| What was CytoVale's last funding round? | CytoVale's last funding round was a $100M Series D in October 2024, led by Alumni Ventures and Sands Capital Ventures. |
| Who are CytoVale's investors? | CytoVale's investors include Breakout Ventures, Sands Capital Ventures, Norwest, Alumni Ventures, Blackhorn Ventures, Global Health Investment Corporation, GRIDS Capital, CPP Investments, Dolby Family Ventures, IT-Farm and 1 other. |
| Which companies are comparable to CytoVale? | Companies comparable to CytoVale include ATTWILL Vascular Technologies, Axoft, Celloid, Gallant, Tobii and IMBdx. |
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