ixlayer Raises $75 Million to Transform Telehealth with Laboratory Testing Platform

Platform services payors, providers and government partners with the proper infrastructure to scale diagnostic health testing

The 300% oversubscribed Series A funding round was led by General Catalyst, with additional investments from PearVC, Anne Wojcicki, Dara Khosrowshahi and others

Early success with the United States Coast Guard, the Chan Zuckerberg Biohub, Stanford University and Avera Health has demonstrated the power of ixlayer

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ixlayer

Mar 11, 2021, 08:00 ET

SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- ixlayer, a leader in technology-based solutions for diagnostic testing, today announces it 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.

"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."

"What makes ixlayer unique is that it's built by founders that have experienced the lack of tech infrastructure in healthcare firsthand, and as a result, are able to build innovative solutions for health systems," added Mar Hershenson, Managing Partner, Pear. "We are proud to be the first institutional investors in ixlayer and are excited to continue supporting their journey to revolutionize healthcare."

The company saw early success with its go-to-market strategy organizing testing platforms with the United States Coast Guard, the Chan Zuckerberg Biohub, Stanford University, and Avera Health. The ixlayer cloud-based technology platform currently supports more than 1 million patients, and launched more than 800 testing programs in 2020 alone. To learn more about ixlayer and its work to improve all aspects of diagnostic testing and telehealth services, please visit www.ixlayer.com.

About ixlayer:
ixlayer is an industry leader in the health-tech ecosystem, providing innovative solutions for enabling health systems, payors, biopharma, and health focused companies to offer health testing in a virtual environment. 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.

About General Catalyst:
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.

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SOURCE ixlayer