Health test firm LetsGetChecked raises €9.7m
LetsGetChecked, a medical health testing platform that allows customers to access regulated laboratory testing and self-test from their home, has raised $12m (€9.7m) in Series A funding.
The funding will be used to scale the company globally, fuel development of the technology platform linking customers to laboratories, and grow the clinical support team, LetsGetChecked said.
Funding was led by US-based Optum Ventures, which is part of United Health Group, and Chinese venture capital firm Qiming Venture Partners.
Founded by Peter Foley in 2014, LetsGetChecked has amassed more than 10,000 customers, and recently launched in North America, with offices in New York and Toronto. Since its inception, the company's portfolio of testing options has expanded to include lifestyle testing, sexual health testing, cancer screening, and fertility and hormone testing.
"What we are really aiming to do is go after the chronic disease market," Mr Foley told the Irish Independent.
"With easier access to testing, individuals can change how and when they are diagnosed, leading to better clinical outcomes.
"Our goal is to provide individuals with greater control of their health through accessible technology and to continue partnering with more labs and health systems, to bring more specialised testing direct to consumers," he added.
The company, which in 2016 raised €1.5m in seed funding, operates through enabling customers to order a physician approved lab test.
The test kit is dispatched from a LetsGetChecked ISO accredited facility, and will arrive at the patient's home within days.
The test kits are completely anonymised, containing only a patient identifier to maintain privacy and confidentiality, the company said.
All patient results are then reviewed by a board-certified physician, according to the company.
"Support from investors with proven track records of helping to modernise healthcare like Optum Ventures and Qiming Venture Partners is a true testament to the work we're doing," Mr Foley said.
Commenting on the announcement, Mark McDade, of Qiming Venture Partners, said that Qiming is "dedicated to investing in companies that solve real-life problems and have international scale".