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Tute Raises $3.9M in Venture Capital

NEW YORK (GenomeWeb) – Utah-based bioinformatics company Tute Genomics said today it closed a second Series A1 round of venture capital funding in which it raised over $3.9 million.

A company representative told GenomeWeb that Tute will use the funds to scale up its commercialization efforts including expanding its sales and marketing, and engineering teams. It has set aside funds from the new capital to hire a vice president of sales, a vice president of marketing, and a chief scientific officer.

The list of investors in this series include Intermountain Healthcare, a network of 22 hospitals and 185 physician clinics; Healthbox, a company that supports innovation and entrepreneurship in healthcare; and Tencent, a provider of internet services in China. As part of the investment, Nina Nashif, founder and CEO of Healthbox, will join Tute's board.

Last December, Tute raised $2.3 million in a Series A1 funding round led by UK-based Eurovestech with participation from Peak Ventures and other unnamed angel investors. 

More recently, the company signed an agreement with PrimeBio to provide whole-exome and targeted gene panel interpretation services. It also joined forces with DNAnexus to provide an integrated solution for genomic data management, analysis, and interpretation. The company also teamed up with Google and researchers at theUniversityofTexasto make its database of 8.5 billion genetic variant annotations publicly available through the Google Genomics infrastructure.