What do you get when you cross a biotech, a professional golfer and a handful of investment firms? Apparently, a $150 million megaround for an at-home diagnostics provider.
LetsGetChecked recently closed its high-flying series D with support from a handful of longtime backers that included Illumina Ventures, UnitedHealth’s Optum Ventures and golfer Rory McIlroy through his own Symphony Ventures, Fierce Biotech reported. The round was led by Casdin Capital.
The added $150 million in capital brings LetsGetChecked’s lifetime financing to more than $260 million since its 2015 founding. It also values the startup at an impressive $1 billion, per Bloomberg.
Here's a snapshot of other health IT funding deals of more than $30 million in June:
Medicare Advantage startup: AllyAlign Health has secured nearly $300 million in a funding round led by New Enterprise Associates. The company, which focuses on addressing the health of people in senior housing communities, said the new investment will allow it to further grow its workforce, partnerships and technology platforms.
Mental health unicorn: Lyra Health, a provider of mental health benefits for employees, banked $200 million in new funding. Investor hedge fund Coatue Management led the round and was joined by new investor Sands Capital along with existing investors.
Kidney disease management: Monogram Health scored a $160 million series B funding round backed by Humana. The funding round was led by TPG Capital, the private equity platform of global alternative asset firm TPG, and included participation from existing investors Frist Cressey Ventures and Norwest Venture Partners as well as other notable national and regional strategic investors.
Real-world data: With the close of its series D funding round, HealthVerity has raised $100 million to funnel directly toward the expansion of its data management platform. The funding round was led by Durable Capital Partners. All of HealthVerity’s past investors also participated, including Flare Capital Partners, Foresite Capital and Greycroft.
Digital musculoskeletal care: Sword Health banked $85 million in six months to fuel its global expansion and to build value-based care models for musculoskeletal care. The series C funding round led by General Catalyst with participation from BOND, Highmark Ventures and BPEA along with returning investors Khosla Ventures, Founders Fund, Transformation Capital and Green Innovations.
Virtual behavioral health: Startup Brightline scored $72 million to fuel the national expansion of its virtual behavioral health solution designed specifically to support children, teenagers and their families. GV (formerly Google Ventures) led Brightline’s series B round, with participation from new investors Optum Ventures, 7wireVentures and Gaingels.
Employer-sponsored benefits: Livongo founder Glen Tullman's latest venture has raised $58 million backed by major investors General Catalyst, Merck Global Health Innovation Fund, Kleiner Perkins and Bayer's corporate venture arm.
Genomic sequencing: Helix scored a $50 million series C round co-led by Warburg Pincus, DFJ Growth, Kleiner Perkins Caufield Byers, Mayo Clinic and Temasek, all of which have previously invested in Helix.
AI-powered imaging: Cleerly nabbed $43 million to help provide a digital-first approach to preventing heart attacks. The company’s AI platform is designed to take in noninvasive CT angiography scans of the heart and determine who may be at the greatest risk, based on an analysis of the plaques built up in their coronary arteries. The company’s series B round was led by Vensana Capital, with additional backing from LRVHealth, New Leaf Venture Partners, DigiTx Partners, the American College of Cardiology and Cigna Ventures as well as previous investors.
Birth control delivery startup: The Pill Club has closed $41.9 million in new investments as it looks to expand its prescription services to all 50 U.S. states before the end of the year. The Pill Club’s latest funding was led by Base 10 and included prior backers ACME, GV, Shasta Ventures and VMG as well as new investors like Uber CEO Dara Khosrowshahi, Honey CEO and co-founder George Ruan and iGlobe.
AI-powered implant: Synchron is developing an implant that translates thoughts into movements on smartphones and tablets, focusing specifically on restoring communication for people with severe paralysis. The company closed a series B funding round that brought in $40 million for the company.
Quick blood draw device: Babson Diagnostics has scored $31 million in new funding to help complete the development of its quick blood draw device, designed to bring easier sample collections to pharmacies and grocery store clinics. The series B round for Babson was led by Emerald Development Managers with additional backing from Siemens Healthineers, Prism Ventures and Lago Consulting Group.
Customer service solution: Syllable, a customer service automation platform designed for healthcare organizations, has announced the close of a $28 million series B funding round headed by Oak HC/FT. The San Jose, California-based startup’s products use artificial intelligence to field and answer patients’ common queries.
Virtual opioid use disorder treatment: Bicycle Health raised $27 million in a Series A investment led by Questa Capital with participation from City Light Capital, Emily Melton and previous investor SignalFire. The company provides clinically validated Medication-Assisted Treatment (MAT) and integrated behavioral health support via telemedicine, for the treatment of opioid use disorder. Since the start of the pandemic, Bicycle Health has seen 30% month-over-month growth for treatment for opioid dependence, delivered by telemedicine.