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At-Home Testing Firm LetsGetChecked Closes $30M Series B Financing

NEW YORK (360Dx) – At-home health testing firm LetsGetChecked today announced it closed $30 million in a Series B financing round that it will use to continue scaling up its direct-to-consumer diagnostics brand in the US, Canada, and Europe.

The funding will also support development of the firm's core technology platform and expansion of manufacturing and logistical capabilities throughout North America, the firm added.

LTP, a growth equity investment firm focused on healthcare information technology, led the financing round that also had participation from existing investors Optum Ventures and Qiming Venture Partners USA.

Founded in 2014, LetsGetChecked's portfolio of testing procedures includes testing for wellness, cancers, sexual health, fertility, genetics, and pharmacogenomics, among other conditions.

Its CEO and Founder Peter Foley noted in a statement that early diagnostics through consumer-led screening can lead to quicker diagnosis and better management of illnesses.

Support from investors such as LTP "aligns well with our mission and company goals of bringing specialized health testing and insights direct to consumers," he said.

The firm said that users can order in-state physician-approved laboratory tests via LetsGetChecked.com or through partner retailers, including CVS, Walmart, Pharmaca, and McKesson online stores. A user-ordered, physician-approved lab test is shipped from LetsGetChecked's ISO-accredited facility, and people can complete and return the samples for processing within two days.

Tests are performed by "leading CLIA-certified reference labs," according to the company.

The firm has also partnered with makers of wearable health devices such as Apple Health, Fitbit, and Garmin. "By combining lab results with real-time wearable data, users can receive risk assessments and scores such as their cardiovascular health and others to determine the probability of developing a heart attack within a given timeframe," LetsGetChecked said.

LetsGetChecked, which is headquartered in New York, closed a $12 million Series A funding round in 2018.