The COVID-19 pandemic has permanently altered our economy, society, and healthcare system. Further, the crisis has posed unprecedented challenges on healthcare across the globe, catalysing the rapid adoption of telehealth at astonishing rates.
Telehealth is a method of using digital information and communication technologies to access health care services through various remote means – calls, chatbots, apps, videos, and others.
Right now, there are a large number of startups working on a wide variety of solutions. LetsGetChecked is one of them.
Co-headquartered in Dublin and New York, LetsGetChecked is an at-home health testing platform that connects customers to regulated laboratory testing to manage and control one’s health.
Raised €123M
Recently, the telehealth company has secured a $150M (approx €123M) Series D round of financing led by Casdin Capital, bringing its total valuation to more than $1B.
Other investors including CommonFund Capital, Illumina Ventures, Optum Ventures, Transformation Capital, HLM Venture Partners, Qiming Venture Partners USA, and professional golfer Rory Mcllroy through Symphony Ventures, also participated.
The latest funding round brings the company’s total funding to more than $260M (approx €213M).
Fund utilisation
The company will use the funding to launch Care pathways, a 360-degree customer care journey that will provide remote care for patients with ailments and chronic conditions. It is one of the core offerings including, telehealth services, pharmacy capabilities, and at-home diagnostics.
Through this feature, users can connect with LetsGetChecked-affiliated medical professionals through asynchronous chat and video to receive real-time guidance and diagnoses.
Part of the funding will be used to expand its pharmaceutical services to include long-term care solutions for conditions such as Cholesterol and Thyroid management.
“We are seeing unprecedented demand for at-home diagnostics and care as an alternative to traditional in-person medical visits, and we are expanding our offerings to include telehealth and treatment services to further help people live longer happier lives,” says Peter Foley, Founder, and CEO of LetsGetChecked.
Virtual care company
Founded by Peter Foley in 2015, LetsGetChecked is making healthcare and diagnostics open and empowering people to use technology in a simple yet powerful way.
The virtual care company allows customers to access telehealth services, pharmacy, and at-home diagnostics for a wide range of health conditions including, Sexual Health, Cholesterol, Diabetes, Thyroid, Coronavirus (COVID-19), and more.
Since its inception, the US company has delivered more than two million tests and served around 300 corporate customers with testing services and biometric screening solutions.
1500 per cent YoY growth
Last year, the company witnessed significant growth, particularly during the pandemic, with YoY growth hitting 1,500 per cent.
The company would continue to focus on Europe and the US in the near term, says Foley. Right now, the company employs around 650 people and offices in Dublin and New York.
The pricing for its tests, which require only a simple prick on the finger, starts at €50.