At-home lab test startup LetsGetChecked has brought in a $30 million Series B raise headed by health IT investment firm LTP. Optum Ventures and Qiming Venture Partners USA also returned to participate in the round.
WHAT THEY DO
Founded in 2014, the New York City-based company offers consumers a range of lab tests that can be ordered through an online site or partner retailers. Customers receive a kit in the mail, which instructs them how to collect and return a sample to the company.
From there, the anonymized sample is sent to a lab partner that returns results to a LetsGetChecked physician. These practitioners review the data and counsel the patient over a call if necessary, with any results then appearing on the patient’s app for later reference. This app dashboard is also connected with and can surface health info from Apple Health, Fitbit, Garmin and other connected health services.
"We want to empower patients to take greater control of their personal health, to live longer, healthier lives,” LetsGetChecked CEO and founder Peter Foley told MobiHealthNews in an email statement. “LetsGetChecked enables patients to access essential screening in the home for a range of issues including chronic disease states such as diabetes. What's important is that we also provide clinical support through our team of physicians, nurses and health advisors to assist with treatment options and referral pathways should it be needed."
WHAT IT’S FOR
According to the announcement, LetsGetChecked will continue to scale its consumer-facing brand. In addition, the company will also be expanding its North America manufacturing and logistical capabilities, and further developing its core technology.
MARKET SNAPSHOT
Consumer-friendly, mail-in tests have become more and more feasible with each passing year, leading to major moves among players within the past few years. It was just a few weeks ago that EverlyWell raised $50 million for its own mail-order diagnostics business. February saw an $18 million Series B round from urine analysis company healthy.io, while Scanwell Health announced the following month that its kit-and-smartphone-based diagnostic platform would be playing a role in an ongoing, multicenter chronic kidney disease study.
ON THE RECORD
"We have seen LetsGetChecked grow and expand successfully over the time we have been involved. We are dedicated to investing in companies that solve real life problems. This is why LetsGetChecked stands out to us," Mark McDade, managing partner at Qiming Venture Partners USA, said in a statement. "We're excited to help the company continue to grow at a time when people want more control over their own health."
