Funding To Support Product Innovation and Expansion of Clinical Support Team
DUBLIN and NEW YORK, March 28, 2018 /PRNewswire/ -- LetsGetChecked, the medical health testing platform that allows customers to access regulated laboratory testing and self-test from the comfort of home, today announces the closing of $12 million in Series A funding. Led by Optum Ventures, the independent venture fund of health services leader Optum, and Qiming Venture Partners, a leading Chinese venture capital firm, the funding will be used to scale the company, fuel development of the technology platform linking customers to laboratories, and grow the full clinical support team.
LetsGetChecked was founded in 2014 by Peter Foley with the idea of using technology and logistics to bridge the gap between traditional lab testing and consumers. Since inception, the company's portfolio of testing options has expanded to include 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 Peter Foley, founder of LetsGetChecked. "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."
The LetsGetChecked platform connects users with a wide range of medical professionals, as well as a global network of laboratory partners and logistical support all from a personal health account. With its patient-led approach, a user can order a physician approved laboratory test without having to deviate from their day to day. The test-kit is dispatched directly from a LetsGetChecked ISO accredited facility and will arrive at the patient's home within a matter of days. The test-kits are completely anonymised, containing only a patient identifier to maintain privacy and confidentiality.
All patient requests and results are reviewed by a board-certified physician thereby mirroring what happens in a doctor's office–only in the virtual sense. If a patient receives 'positive' or 'out of range' results, a member of the nursing team contacts the patient to provide support. Only after that call has been completed will results be released to the patient's dashboard where they can track and manage their results over time.
"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."
"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."
For more information about LetsGetChecked, please visit www.letsgetchecked.com.
Founded in 2014 by Peter Foley, LetsGetChecked is a medical technology platform linking customers to regulated laboratory testing to better manage and control their personal health. LetsGetChecked is making healthcare and diagnostics open and patient-led, empowering people to use technology in a simple but powerful way by providing greater control of personal health. LetsGetChecked is based in Dublin and New York with more than 30 tests for general health, sexual health, cancer screening and fertility checks available in the US, Canada and 14 European countries.
About Optum Ventures
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit www.optumventures.com.
About Qiming Ventures
The Qiming U.S. Healthcare Fund, LP is a new US healthcare venture fund headquartered in Seattle, WA with offices in Palo Alto, CA and Cambridge, MA. As part of a broader family of Qiming venture funds, this new fund seeks to invest in US-based private human healthcare companies with potential market opportunities in China. Focused areas of interest are bio-therapeutics, medtech and digital health technologies, with equity investments of up to $12 million.