On Wednesday, Seattle-based health company Tasso raised $17 million in Series A funding. Hambrecht Ducera Growth Ventures led the round, with participation from Foresite Capital, Merck Global Health Innovation Fund, Vertical Venture Partners, Techstars and Cedars-Sinai.
Blood tests are an important part of checking in on your health, but a fear of needles often scares people away from taking a trip to the doctor. So Tasso developed an at-home blood draw test that is easy to perform on your own.
Everything needed for the test is included in the box. You just prepare your arm by cleaning it with an alcohol wipe, stick the golf ball-sized device on your upper arm, push the red button and wait five minutes, then remove the device and detach the test tube. The blood sample then goes back in the box and is sent to a laboratory where the tests are performed.
Tasso provides a standard sample from capillary blood, so it can be used for all sorts of testing. For example, the Fred Hutchinson Cancer Research Center uses Tasso devices to test for COVID-19 antibodies. Meanwhile, various pharmaceutical companies use Tasso devices to gather data across clinical trials.
Tasso CEO and co-founder Ben Casavant, Ph.D., says that the company is especially relevant during the COVID-19 pandemic, which puts the company in the position to succeed.
“The coronavirus pandemic has underscored the surging demand for more diagnostic solutions that are patient-friendly and can be deployed easily at home,” Casavant said in a statement. “The Tasso OnDemand devices are enabling people to be tested for COVID-19 and many other routine diagnostic applications, from anywhere at any time. This funding round is a strong validation of our approach and will allow us to build on our recent successes and enhance the platform with new value-added services in the future.”
The Series A funding round will help Tasso capitalize on this increased demand, as the company will use it to scale its manufacturing and operations.
Founded in 2011, Tasso has raised $38.6 million to date.
