Thriva, a London-based platform providing mail-order blood tests for consumers, has raised another $7.3 million in backing thanks to a new Series A round. Pembroke VCT and Guinness Asset Management were among the round’s participants, which brought the company’s total funds raised to $8.2 million.
WHAT THEY DO
Since 2016, Thriva has offered mail-order tests and results interpretations to more than 100,000 customers. The products, which are processed by accredited laboratories, range between measurements of hormone levels, vitamins and minerals, cholesterol, liver function and HbA1c. Shortly after customers return their ordered tests to the company, they receive digital access to a personalized health report, complete with advice from a doctor on how to interpret and act on the results.
In its funding announcement, the company noted that it has grown 100% year-on-year, and currently employs 35 people in its main headquarters.
WHAT IT’S FOR
The company was coy on what exact efforts its new funds would support, only noting in its announcement that the raise would help Thriva achieve its broader goal of consumer health empowerment.
“Our mission remains the same: To provide anybody with profound control over their own wellbeing,” Hamish Grierson, cofounder and CEO of Thriva, said in a statement. “Thriva is creating affordable access to clinical-grade information that show you what steps you can take towards thriving health.
MARKET SNAPSHOT
Competitors abound in the consumer mail-order testing space with more and more approaches becoming feasible with each passing year. New York City-based LetsGetChecked added $30 million to its total fundraise in May, with a $50 million round from EverlyWell preceeding it just a few weeks earlier. 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
“There is a rapidly-growing market shift towards proactive healthcare and the maintenance of optimum health. Thriva now offers its customers a means of effectively monitoring and maintaining their health – and by doing so, lessening the likelihood of having to see a GP,” Pembroke VCT Managing Director Andrew Wolfson said in a statement. “Several of the Pembroke team have taken tests, and all of us have been impressed with the speed at which results were published, as well as the user-friendly interface and actionable next steps. More importantly, we have always maintained it is the quality of people that determines a business’s success. Hamish and the team have never failed to impress us.”
