Remote diagnostic LetsGetChecked lands $150M in Series D funding

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At-home diagnostic testing startup LetsGetChecked has completed a Series D funding round worth $150 million.

Casdin Capital led the investments with additional participation from CommonFund Capital, Illumina Ventures, Optum Ventures, Transformation Capital, HLM Venture Partners, Qiming Venture Partners USA and professional golfer Rory Mcllroy through Symphony Ventures.

Following past funding rounds in 2018, 2019 and 2020, the New York City-based company has raised more than $260 million to date.

WHAT IT DOES

LetsGetChecked offers more than 100 types of at-home tests, including ones for sexual health, cholesterol, diabetes, thyroid and COVID-19.

Customers receive their kit in the mail, with which they collect and return a personal sample for testing. One of the startup’s lab partners analyzes the sample and returns it to the LetsGetChecked clinical team, which can also provide follow-up care through its telehealth and pharmacy offering.

WHAT IT’S FOR?

With the newly raised capital, LetsGetChecked plans to roll out new care pathways for patients with ailments and chronic conditions. It will do so through strategic investments into its core offerings.

“We are seeing unprecedented demand for at-home diagnostics and care as an alternative to traditional in-person medical visits, and we are expanding our offerings to include telehealth and treatment services to further help people live longer, happier lives,” Peter Foley, founder and CEO of LetsGetChecked, said in a statement.

Specifically, the company is growing its telehealth services to allow for asynchronous chat and video calls between patients and physicians. It will also expand its pharmaceutical services to include treatment options for conditions such as high cholesterol and for thyroid management through a Jupiter, Florida-based pharmacy acquisition. Finally, LetsGetChecked is continuing to invest in its diagnostic testing and has plans to release new test kits this year.

MARKET SNAPSHOT

Other names in the at-home health testing space include Everlywell, which recently acquired PWNHealth and its subsidiary Home Access Health to form a new parent company called Everly Health; Scanwell Health, which also offers COVID-19 testing; and Cue Health, which recently scored $235 million in private financing.

 

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