LetsGetChecked, a medical health-testing app has raised $12 million in Series A funding led by Optum Ventures and Qiming Venture Partners. It is fair to say that LetsGetChecked has taken strategic investors on board, as the former investor is an independent venture fund of health services leader Optum while the latter is a leading Chinese venture capital fund. The funds raised will serve to grow the company, improve the technology allowing customers to communicate with laboratories and expand the full clinical support team.
LetsGetChecked provides its users with access to regulated laboratory testing and allow them to test themselves with the appropriate tools from their very own home. The aim of the company is to make use of technology and logistics to act as intermediary between testing labs and its users. Peter Foley founded the firm in 2014 and since then, the company has increasingly expanded its portfolio of services and currently provide services such as lifestyle testing, cancer screening, sexual health testing and fertility and hormone testing.
“Support from investors with proven track records of helping to modernize healthcare like Optum Ventures and Qiming Venture Partners is a true testament to the work we’re doing,” said founder of LetsGetChecked, Peter Foley.
LetsGetChecked provides a platform that enables users to communicate directly with laboratories that are in partnership with the app and their logistics support from a single health account created on the platform. This allows the patient to schedule a physician approved laboratory test without having to personally go there and hence, is practical in not taking a day off to carry out the task. After the booking, a test-kit will be sent directly to the customer’s doorstep in a matter of days from the LetsGetChecked ISO recognized laboratory. The test-kits only contain the patient identifier to keep anonymity and confidentiality. The app then create a virtual meeting with a board-certified physician to review the results and answer any questions from the patient.
The platform also has a team that supports patients who received ‘positive’ or ‘out of range’ results. It is only after answering the call that the patient will be able to view his/her results on their personal dashboard. Based in Dublin and New York, LetsGetChecked currently boasts over 30 tests available in the US, Canada and 14 European countries.
“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 specialized testing direct to consumers,” stated founder Peter Foley.
Optum Venture, the independent venture fund of Optum, which is a prominent information and health-tech services business devoted in improving the health sector by making it more accessible to everyone. Optum Ventures made a name for itself by investing specifically in digital health companies especially those firms that use data and analytics designed to provide efficient access to health care services thus making health care more accessible and reliable.
“At-home lab testing is the next logical step in building a consumer-friendly, patient-centric system,” said AG Breitenstein, Partner at Optum Ventures. “LetsGetChecked is poised to become a leader in bringing easy-to-access and powerful lab testing to consumers everywhere, and we look forward to helping them achieve that.”
Qiming U.S Healthcare Fund LP, is a Seattle-headquartered healthcare venture fund, which is a branch of Qiming venture funds. It seeks to fund US-based private human healthcare companies and are also on the lookout to enter the Chinese market as well. They have already invested over $12 million in bio-therapeutic, med-tech and digital health technologies.
“At Qiming we are dedicated to investing in companies that solve real-life problems and have international scale,” added Mark McDade at Qiming Venture Partners. “We’re excited to help the company grow at a time when people want more control over their own health.”