LetsGetChecked raises $150m for virtual care capabilities
Irish-founded virtual care company LetsGetChecked has completed $150 million Series D round of financing, bringing its total capital raised to more than $260 million.
The round 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.
LetsGetChecked – which has offices in Dublin and New York – expanded exponentially during the pandemic, with year-on-year growth of 1,500%. Its end-to-end supply chain allowed LetsGetChecked to rapidly scale up its COVID-19 testing through 2020. This included building a lab in Dublin to cater for the European market. The company announced last December that it was creating 160 new jobs in Dublin.
Beyond the pandemic, LetsGetChecked also said it has seen a huge rise in the demand for quality virtual care services.
“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 currently provides customers access to more than 100 validated at-home tests including sexual health, cholesterol, diabetes, thyroid, and 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.
“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 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.
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