Irish start-up raises $30m for at-home health testing platform

LetsGetChecked, an Irish start-up that has developed a diagnostics platform to enable private self-testing for health-related issues, including sexually-transmitted infections (STIs), has raised $30 million (€26.8 million).

Founded in 2014 by Peter Foley, the Dun-Laoghaire-based company has developed a medical technology platform linking customers to regulated laboratories to better manage and control their personal health.

The company’s initial self-testing product was to test STIs. However, it now has more than 30 tests for general health, sexual health, cancer screening, and fertility checks available in Europe and North America, where it has partnered with well-known retailers such as CVS and Walmart.

LetsGetChecked, which is headquartered in New York, has also partnered with a number of large reference labs and health systems, and is building partnerships with a growing number of healthcare insurers for personalised screening and home testing procedures.

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Pricing for the tests start at about €50 each and usually only require a simple prick of the finger. The company promises to deliver results within five working days.

“When I was younger, I had a condition whereby I benefited from getting screened early. I made a full recovery, but that isn’t always the case for people. We have all experienced family or friends getting diagnosed with something too late and conditions that should be manageable, get way out of hand. Early diagnostics through consumer-led screening can help solve this problem and lead to better clinical outcomes for everyone,” said Mr Foley, the company’s chief executive.

The latest funding round was led by Boston-based Leerink Transformation Partners (LTP), with existing backers Optum Ventures and Qiming Venture Partners also participating.

LetsGetChecked said it intends to use the funding to continue scaling its consumer brand in diagnostics, for further development of its core technology platform and on expanding manufacturing and logistical capabilities throughout North America.

“Support from investors like LTP who have a proven track record of helping to modernise healthcare aligns well with our mission and company goals of bringing specialised health testing and insights direct to consumers,” said Mr Foley.

The latest investment brings total funds raised to date to $43.5 million, according to PitchBook. The company previously raised $12 million in a Series A funding round in March 2018.

"LetsGetChecked is taking lab testing and personal health management to the home through tight coordination of existing certified reference labs and logistics platforms," said Todd Cozzens, managing partner, LTP.

“This creates a convenient and seamless consumer health testing experience, allowing timely access to results, follow-up care and professional guidance,” he added.