LetsGetChecked, a leading direct-to-consumer at-home health testing and insights company, today announced the closing of $71 million in its Series C round of financing co-led by Illumina Ventures and HLM Venture Partners. The round also includes new investors Deerfield, CommonFund Capital, and Angeles Investments and existing investors Transformation Capital, Optum Ventures, and Qiming Venture Partners USA. Nick Naclerio, Founding Partner at Illumina Ventures and Steven Tolle, Partner at HLM Venture Partners have joined as new Board members.
Founded in 2015, LetsGetChecked is a leading health insights company that allows consumers direct access to a wide range of testing options and clinical services from home.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, accurate results are available online within a matter of days.
Throughout the process, consumers are connected with in-state, board-certified physicians to discuss any abnormal results and determine the best course of action for treatment and care. Consumers will also receive a call from a medical professional to discuss their results live, which can be conveniently accompanied by an e-prescription from a pharmacy of their choice.
LetsGetChecked will use this round of funding to increase manufacturing, supply and testing capacity for COVID-19, as well as scale-up activity at its CLIA certified high complexity laboratory in California. Furthermore, the investment will allow the company to expand supply and business operations and support personnel across the United States and Europe and to deepen its partnerships with leading insurers and employers.
In March, LetsGetChecked launched a proprietary two-part test for coronavirus (COVID-19) for frontline healthcare workers and is actively working on more testing solutions. This round will help the company rapidly scale services globally, especially relating to COVID-19 testing in the U.S. and Europe.
Highly Accredited Network of Laboratories.
LetsGetChecked 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, the company has logistics partnerships with UPS and USPS to provide a seamless and convenient consumer experience with rapid turnaround for testing results.
“We have been developing our platform for more than five years and have helped hundreds of thousands of individuals by enabling access to high-quality testing and telehealth services in the home, across many health conditions. With the onset of COVID-19, we realigned resources with a view to helping with this global pandemic and are currently delivering tens of thousands of tests per day to critical and frontline healthcare workers”, said LetsGetChecked founder and CEO Peter Foley.
He continued: “We are working hard to deliver COVID-19 testing into the home and hope to have an answer soon. At-home testing has never been more important as consumers around the world look for new and trusted methods for managing their health.