Health Startup LetsGetChecked Nets $150 Million Fundraise And Unicorn Status

Health Startup LetsGetChecked Nets $150 Million Fundraise And Unicorn Status

June 08, 2021 at 04:10AM

LetsGetChecked, a virtual healthcare startup, has raised $150 million in funding, which it plans to use to boost its business, Bloomberg reported. The company is now valued at more than $1 billion.

LetsGetChecked allows customers to order home health tests for various conditions, including sexual health, diabetes and more. Customers can use LetsGetChecked to get follow-up care via digital consultations, according to Bloomberg.

The pandemic caused a surge in demand for the company, although COVID-19 isn’t its focus, Bloomberg reported.

CEO Peter Foley said the pandemic had jolted healthcare forward by “about 10 years,” according to Bloomberg. He added that the benefit is that home diagnostics and telehealth are much more commonly known than they had been.

LetsGetChecked was founded in 2015 and is based in New York and Dublin. The company has raised over $260 million in total capital, including this latest funding round, Bloomberg reported.

The pandemic saw LetsGetChecked working to offer testing to other organizations, like American Airlines, according to Bloomberg.

There have been a number of high-profile deals involving startups in the healthcare field amid the pandemic, Bloomberg reported. Medical startup Babylon agreed to merge with a special purpose acquisition company (SPAC), which will value that company at over $4 billion.

The digitization of healthcare could improve the industry, Conversa Health CEO Murray Brozinsky told PYMNTS last year. He said a digital shift could lay bare “a lot of the issues that have been within the system for this whole time.”

He said Conversa Health has been mostly focused on creating new ways for patients to connect with providers, including telehealth services, and these changes could represent a total transformation for the industry.

“This is definitely going to be part of our future, and I think the needs we’ve seen exposed will get built into the way we work and provide care,” he said.