SAN FRANCISCO — ixlayer, a provider of technology-based solutions for diagnostic testing, has raised $75 million in an oversubscribed Series A funding round. The round is led by General Catalyst with participation from the lead seed investor PearVC and others including Signatures Capital’s Bobby Yazdani, Uber CEO Dara Khosrowshahi, 23andMe CEO Anne Wojcicki, MBX Capital’s Zeshan Muhammedi and Prologis CEO Hamid Moghadam.
The telehealth industry has increased access to primary care at a time when a patient’s ability to see their doctor has been severely restricted. As a result, providers have rapidly scaled offerings to match demand as the trend grows to replace traditional healthcare visits with virtual telehealth experiences. According to a recent report from McKinsey, up to $250 billion of the current U.S. healthcare spend could be virtual. Providers, payors and government health officials at every level need technical infrastructure like ixlayer to connect the services required for telehealth programs to run efficiently.
The ixlayer platform delivers end-to-end solutions for the technical, security, regulatory, and user experience components of complex health testing. As the industry shifts to remote and virtual care options, ixlayer is powering patient engagement and preventative health strategies through virtual health testing, at scale. The ixlayer solution can be added to existing patient engagement platforms and patient portals to enable real time health and wellness lab testing. Founded in 2018, ixlayer currently supports millions of patients and has launched hundreds of testing programs for large organizations, health systems and every level of the government.
“Our platform answers the most pressing telehealth needs in an industry grappling with scaling new products and solutions on the fly, and there is tremendous opportunity to provide higher quality care by growing these services,” said Pouria Sanae, CEO of ixlayer. “When COVID-19 first began, we knew local governments, organizations and labs would struggle with the sudden volume of diagnostic testing. Fortunately, we had a ready-made product in place to drive patient engagement by making lab testing accessible from consumers’ homes.”
Diagnostic testing is the foundation upon which many medical decisions are made; this reality became more apparent at the onset of the pandemic. ixlayer’s proprietary technology connects the health testing ecosystem of services, enabling the rapid launch of testing programs while driving patient engagement from the comfort of their homes. Whereas most enterprise-grade solutions take months to deploy and often lack necessary features at launch, ixlayer can be implemented within weeks and is robust and flexible enough to match the speed of today’s challenges.
“The stress test of Covid has shown us that we have persistent and serious fractures across the foundation of healthcare. What gives me hope today is that there are founders and innovators dedicated to taking on these challenges,” said Hemant Taneja, managing partner, General Catalyst. “The team at ixlayer is building a platform to create a scalable, flexible diagnostic health testing solution. It’s ambitious and with their success comes the chance of having a healthcare system that’s better prepared and more resilient than before. We are excited to be joining them at this important phase of the company’s growth and development.”