Tasso has raised $100m through a Series B funding round led by RA Capital Management to scale patient-centric blood collection systems manufacturing.
The company will also use the funds to scale operations to address the growing demand for its decentralised health testing services and blood collection devices.
With this funding round, the company’s total capital raised to date stands at $131m.
The round saw participation from existing investors Hambrecht Ducera Growth Ventures, Foresite Capital, Cedars-Sinai, Merck GHIF and J2V, as well as new investors the DE Shaw group, SVB Innovation Fund, InCube and Senvest.
At present, the company’s products are being used for a range of healthcare, pharma and research applications globally.
Tasso’s devices are designed to allow users to collect blood samples at any location or time, avoiding the burden of clinic appointments.
Tasso CEO and co-founder Ben Casavant said: “With the Covid-19 pandemic, there has been a fundamental shift in how we think about healthcare and demand for patient-centric, in-home solutions is greater than ever.
“Tasso devices are successfully supporting decentralised clinical trials, clinical research and remote patient health monitoring. This funding round validates the success of our efforts to date and will increase streamlined access to home diagnostics for everyone in the future.”
The company noted that the combination of an integrated logistics platform with its virtually painless blood collection technology will provide access to healthcare data for academic institutions, pharmaceutical companies and payers.
RA Capital principal Anurag Kondapalli said: “Tasso is poised to transform the traditional blood collection process and quickly modernise the standard of care for at-home diagnostic services. We are thrilled to partner with Tasso’s talented team of entrepreneurs to help expand access to this essential technology.”
In September, Tasso’s device to draw blood samples at home was found to be useful to measure antibodies against SARS-CoV-2 in a study reported by researchers at the University of Washington (UW) School of Medicine in the US.