SEATTLE– Tasso, Inc., a leader in clinical-grade blood collection technology, today announced that it has completed an oversubscribed $100 million Series B financing round, bringing the total funding to date to $131 million. The financing round was led by RA Capital Management and included participation from new investors the D.E. Shaw group, Senvest, InCube, and SVB Innovation Fund, as well as existing investors Foresite Capital, Hambrecht Ducera Growth Ventures, J2V, Cedars-Sinai, and Merck GHIF.
Tasso will use the proceeds from the latest funding round to scale manufacturing and operations to meet the increased demand for its signature line of blood collection devices and high-quality, reliable decentralized health testing services. As the industry leader, Tasso is well positioned to capitalize on the growing demand for remote testing services driven by the COVID-19 pandemic. Tasso products are currently being used for a variety of pharma, research, and healthcare applications around the world. The devices enable users with a simple method for collection of clinical quality blood at any convenient time or location, eliminating the burden of clinic appointments while increasing access to remote populations. The combination of Tasso’s innovative, virtually painless blood collection technology with an integrated logistics platform provides leading pharmaceutical companies, academic institutions, and payers with unprecedented access to actionable health data.
“Tasso is poised to transform the traditional blood collection process and quickly modernize 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,” said Anurag Kondapalli, Principal at RA Capital. As part of the investment round, Tasso announced that Anurag Kondapalli will join the company’s Board of Directors.
“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,” said Ben Casavant, PhD, CEO and Co-Founder of Tasso. “Today, Tasso devices are successfully supporting decentralized 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.”
