NEW YORK – At-home testing company LetsGetChecked announced Wednesday it has closed a $71 million Series C financing round co-led by Illumina Ventures and HLM Venture Partners.
Other new investors in the round included Deerfield, CommonFund Capital, and Angeles Investments. Existing investors Transformation Capital, Optum Ventures, and Qiming Venture Partners USA.
The company said it will use the funds to increase manufacturing, supply, and testing capacity for SARS-CoV-2 and to scale up activity at its CLIA-certified laboratory. It added that the investment will help the company expand supply and business operations and deepen partnerships with payors.
LetsGetChecked launched a two-part SARS-CoV-2 test in March that includes a rapid point-of-care serology test and a PCR-based test with nasopharyngeal samples processed in the company's high-complexity lab. The serology test returns results within 15 minutes, the company said.
"With the onset of COVID-19, we realigned resources with a view to helping with this global pandemic and are currently delivering tens of thousands of tests per day to critical and frontline healthcare workers," Founder and CEO Peter Foley said in a statement.
In connection with the funding round, Nick Naclerio, founding partner at Illumina Ventures, and Steven Tolle, partner at HLM Venture Partners, joined as new members of LetsGetChecked's board of directors.
LetsGetChecked, which is based in Dublin and New York, also offers at-home tests for diabetes, cancer screening, sexual health testing, fertility testing, pharmacogenomic testing, and thyroid testing.