LetsGetChecked, a New York City and Dublin, Ireland-based direct-to-consumer at-home health testing and insights company, closed a $71m Series C round of financing.
The round was co-led by Illumina Ventures and HLM Venture Partners with participation from new investors Deerfield, CommonFund Capital, and Angeles Investments and existing investors Transformation Capital, Optum Ventures, and Qiming Venture Partners USA. In conjunction with the funding, Nick Naclerio, Founding Partner at Illumina Ventures and Steven Tolle, Partner at HLM Venture Partners have joined as new Board members.
The company intends to use the funds to increase manufacturing, supply and testing capacity for COVID-19, scale-up activity at its CLIA certified high complexity laboratory in California, expand supply and business operations and support personnel across the United States and Europe and to deepen its partnerships with insurers and employers.
Led by founder and CEO Peter Foley, LetsGetChecked provides a “twin-track” Coronavirus test that includes a rapid (antibody) serology test for results within 15 minutes, followed by a PCR-based test which requires a swab sample to be collected from a patient and later processed within its CLIA lab. The tests help relieve pressure on over-stretched hospital screening services and speed up identification of potential cases by providing additional testing capabilities for frontline healthcare workers, at risk groups and critical workers.
In addition to COVID-19 testing, consumers can order a variety of physician-approved at-home health tests via LetsGetChecked.com or through partner retailers online with other in-store retail options expanding through 2020. Available tests currently include wellness testing and chronic condition testing, e.g. diabetes, cholesterol, and thyroid testing; cancer screening, sexual health testing, fertility testing, and pharmacogenomic testing. Once a test is purchased, users collect samples at home and send it back to LetsGetChecked’s accredited facility at no additional cost. Confidential results are available online within a matter of days.
The company has also integrated with a number of CLIA-certified reference labs and health systems in both the US and Europe, and is building partnerships with a growing number of US healthcare insurers and employers for personalized screening, home and employer onsite testing.
For shipping and handling, LetsGetChecked has logistics partnerships with UPS and USPS to provide a convenient consumer experience with rapid turnaround for testing results.
FinSMEs
06/05/2020