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Blood Collection Firm Tasso Closes $100M Series B Round

NEW YORK – Blood collection firm Tasso said Thursday that it has closed a $100 million Series B funding round.

The Seattle-based company said it would use the funds to scale manufacturing and operations of its blood collection devices and health testing services. Tasso's devices allow patients to collect blood samples at home and provide an alternative to traditional phlebotomy.

The round was led by RA Capital Management and included new investors D.E. Shaw Group, Senvest, InCube, and SVB Innovation Fund, as well as existing investors Foresite Capital, Hambrecht Ducera Growth Ventures, J2V, Cedars-Sinai, and Merck GHIF.

Tasso announced in May that it received CE marking for its Tasso-M20 self-sampling blood collection device.

In 2020, the company closed a $17 million Series A round.

"With the COVID-19 pandemic, there has been a fundamental shift in how we think about healthcare, and demand for patient-centric, in-home solutions is greater than ever," Ben Casavant, CEO and cofounder of Tasso, said in a statement. "Today, Tasso devices are successfully supporting decentralized clinical trials, clinical research, and remote patient health monitoring. This funding round validates the success of our efforts to date and will increase streamlined access to home diagnostics for everyone in the future."

"Tasso is poised to transform the traditional blood collection process and quickly modernize the standard of care for at-home diagnostic services. We are thrilled to partner with Tasso’s talented team of entrepreneurs to help expand access to this essential technology,” said Anurag Kondapalli, principal at RA Capital, who will be joining Tasso's board as part of the funding round.