Led by Initialized Capital with participation from Kleiner Perkins and others, funding allows startup to expand its testing portfolio and fulfill its mission to bring health equity to underserved markets
FREMONT, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) — Simple HealthKit, addressing health inequity with the first human-centric, end-to-end healthcare platform that builds and delivers diagnostics, treatment and follow-up care for all, announced today that it has raised $8M in Series A funding led by Initialized Capital with participation from seed investors Kleiner Perkins, Kapor Capital and Quest Venture Partners to transform health diagnostics and follow-up care. This brings Simple HealthKit’s total funding to date to $12M.
The company also has expanded its portfolio of solutions to include diagnostics for sexual health, chronic conditions such as diabetes, and the current tripledemic (COVID-19, RSV and Flu A/B) sweeping the U.S.
Founded by a diverse team of scientists, engineers, physicians and difference-makers, including CEO Dr. Sheena Menezes, Simple HealthKit has a mission to bring health equity to underserved markets. It starts with reliable diagnostics (at-home, in-clinic or at-pharmacy) and fast results, providing immediate next steps for consultation and treatment if a person tests positive. The company provides a complete, omnichannel healthcare infrastructure from testing to telehealth and medication. Simple HealthKit’s infrastructure can plug into any organization’s workflow via an open-ended API or HL7. The company operates its own CLIA-certified, CAP-accredited labs and returns results within 24 hours to speed time to treatment.
“Simple HealthKit is transforming traditional diagnostics with a human-centric approach, providing accessible testing tools in tandem with thoughtful follow-up care,” said Garry Tan, Partner and Founder at Initialized, President and CEO of Y Combinator, and Simple HealthKit board member. “We believe this approach to diagnostics-as-a-service will be especially impactful in underserved markets where time and cost are often factors in whether or not people pursue care.”
“The ability to build reliable and affordable health diagnostic products is what attracted Kleiner Perkins to lead Simple HealthKit’s seed round, and why we participated in this new round,” said Mamoon Hamid, Partner at Kleiner Perkins and Simple HealthKit board member. “We have tremendous respect for Dr. Menezes and the Simple HealthKit team, and all they have accomplished. This market is evolving rapidly, and Simple HealthKit has managed to both stay ahead of it and stay true to their mission.”
“I was raised in India and Kuwait, and saw hardships and health disparities at an early age. When I emigrated to the U.S. as an adult, I was shocked to see those disparities existed here too,” said Sheena Menezes, Ph.D. “Healthcare should not be a privilege, it is a basic right. We founded Simple HealthKit to address inequities for the most common conditions plaguing all populations. We focus on developing accurate diagnostics and combining them with follow-up care, in a way that’s affordable, accessible and most of all helpful. It’s not easy, but it’s so important.”
Simple HealthKit made the decision to expand to sexual health, diabetes and tripledemic diagnostics due to the devastating effects these conditions currently have in the U.S. For example, 1 in 2 sexually active people will contract an STD/STI by age 25, and many are asymptomatic and unaware. This can lead to dire consequences: 10-15% of women with untreated chlamydia for instance will develop PID, a leading cause of infertility. The current tripledemic – defined as Covid, the flu and RSV – is spreading quickly in the U.S. with flu activity trending 10x higher than previous years.
Simple HealthKit’s test for sexual health and respiratory illness are available now at the company’s web site. At-home tests may be covered by HSA/ FSA programs, while in-clinic and at-pharmacy tests are typically reimbursable through health insurance. Later this year, these tests and more will be available via leading retailers, both in-store and online.
“Simple HealthKit builds solutions for high-need and high-impact population health challenges,” said Dr. Menezes. “This funding will help us further invest in innovation and accelerate our efforts to reach more people faster. We’re excited about the future and grateful to Initialized Capital, Kleiner Perkins, Kapor Capital and all our investors for their ongoing support.”
About Simple HealthKit
Simple HealthKit is the first and only human-centric, end-to-end healthcare platform that builds and delivers diagnostics, treatment and follow-up care for all. Created by people who believe world-class care is a right, not a privilege, Simple HealthKit addresses high-need and high-impact health challenges in all communities. The company offers high-quality, accessible, and affordable solutions for at-home or in-clinic diagnostics for sexual wellness, respiratory health, chronic conditions, and more. Simple HealthKit is working with leading retailers, pharmacies, educational institutions, employers, and public health organizations to bring health equity and world-class care to all communities and empower people with the information they need to lead healthier lives. Learn more at https://www.simplehealthkit.com/