Veracyte, Inc., has announced it has raised $28 million in Series C financing.
Veracyte, based in South San Francisco, Calif., is a molecular diagnostics company in the field of molecular cytology.
The funds were raised from new investor GE Ventures, as well as existing investors Domain Associates, Kleiner Perkins Caufield & Byers, TPG Biotech and Versant Ventures.
Veracyte indicated that the funds will be used in part to support the commercial expansion of the company’s first product, the Afirma thyroid FNA analysis. Afirma uses a gene expression test to help reduce unnecessary surgeries as part of thyroid cancer diagnosis.