Newest funding fuels launch of 360-degree customer care journey, including telehealth services, pharmacy capabilities, and expanded at-home testing
LetsGetChecked, a leading virtual care company, announced today the completion of a $150 million Series D round of financing. The funding was led by Casdin Capital with continued 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, an investment partnership. This latest financing brings the total capital raised by LetsGetChecked to more than $260 million.
“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,” said Peter Foley, Founder and CEO of LetsGetChecked.
LetsGetChecked will use the new capital to launch care pathways, a 360-degree customer care journey that will provide remote care for patients with ailments and chronic conditions. Care pathways is enabled by LetsGetChecked’s core offerings, including telehealth services, pharmacy capabilities, and at-home diagnostics. Consumers will be able to connect with LetsGetChecked-affiliated medical professionals via asynchronous chat and video to receive real-time guidance and diagnoses through the company’s proprietary app and web-enabled interface.
“With the pandemic accelerating the shift to at-home healthcare, LetsGetChecked has grown its revenue by more than 1,500 percent year-over-year and added customers, including health plans, employers, and government organizations, among others,” says Eli Casdin, Chief Investment Officer at Casdin Capital. “We’ve been thrilled by the team’s ability to scale thoughtfully while delivering quality care to more than one million consumers in the last year.”
LetsGetChecked currently provides customers access to more than 100 validated at-home tests including Sexual Health, Cholesterol, Diabetes, Thyroid, and Coronavirus (COVID-19) as well as follow-up care through its telehealth and pharmacy offering. The company has delivered more than two million tests and served more than 300 corporate customers with testing services and biometric screening solutions since it was founded in 2015.
“I was first introduced to LetsGetChecked in 2018 as an Irish start-up with innovative technology and a vision to put healthcare into the hands of consumers,” commented professional golfer Rory McIlroy, an early investor in LetsGetChecked. “I’m delighted to invest in a business that is working tirelessly to make health screening more accessible to people all around the world.”
Key areas of investment for LetsGetChecked include:
- Telehealth Services: LetsGetChecked will launch expanded virtual customer consultation capabilities including asynchronous chat and video. This functionality will allow customers to have a telehealth visit with a LetsGetChecked-affiliated medical provider, receive a follow-up consult after an abnormal test result, speak with clinicians to get a prescription refilled or adjusted, and receive follow-up care.
- Pharmacy: LetsGetChecked plans to expand its pharmaceutical services to include long-term care solutions for conditions such as Cholesterol and Thyroid management. LetsGetChecked is also in the process of acquiring a pharmacy in Jupiter, Florida to assist in this expansion effort.
- At-Home Diagnostics: LetsGetChecked will continue to strengthen its commitment to delivering at-home diagnostic test kits directly to customers for sample collection and processing utilizing its own diagnostic laboratories and end-to-end model, and will introduce new test offerings in 2021.
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