LetsGetChecked, which lets users order home health tests and get follow-up care via digital consultations, raises $150M led by Casdin Capital at $1B+ valuation
Ivan Levingston / Bloomberg : Thanks: @ivanlevingston
Context & Ripple Effects
LetsGetChecked's $150M Casdin-led round caps an eighteen-month escalation in digital health financing that started with modest sums — Eko's $65M Series C for remote screening and Virta Health's $65M raise at roughly $1.1B in late 2020 — and then compounded through 2021.
What distinguishes this round is the model it funds: home-ordered diagnostics paired with follow-up consultations, a full-loop alternative to clinic-dependent players like Carbon Health and condition-specific ones like Hinge Health, whose own valuation had already doubled to $6.2B by October.
First-order effects
- Casdin Capital's lead check takes LetsGetChecked past the $1B threshold, giving the company war chest to scale its test-and-consult loop against clinic-based rivals still raising at higher multiples.
Second-order effects
- Carbon Health's hybrid app-plus-80-clinic footprint now competes against a channel that needs no real estate, pressuring its cost structure even as its own $3.3B valuation shows investors will fund either path.
Third-order effects
- With valuations climbing from ~$1B (Virta) to $3.3B (Carbon Health) to $6.2B (Hinge Health) inside a year, capital is consolidating around full-stack virtual care platforms — pushing routine testing and monitoring out of labs and clinics toward consumer-initiated services, with reimbursement rules as the open variable.
The trend: Digital health funding is escalating from niche remote-monitoring rounds to billion-dollar platform plays that fold diagnostics, monitoring, and consultation into one consumer-owned loop.