He might be known for his performances on the golf course but Rory McIlroy’s portfolio is looking just as impressive off it after it was reported that his LetsGetChecked punt could help deliver the Irish-based health insights company a $1Billion valuation.
McIlroy’s Dublin-based Symphony Ventures were quick to buy a stake in LetsGetChecked, a home-testing company founded in 2013 that has boomed off the back of the Covid-19 pandemic.
McIlroy’s firm was involved in a successful funding round recently which raised $71million for LetsGetChecked and it’s this kind of backing that has seen forecasters predict a possible $1Billion valuation for the company that’s hoping to crack the US market, albeit pending approval.
“This product has been authorised only for the detection of nucleic acid from SARSCoV-2, not for any other viruses or pathogens; and… emergency use of this product is only authorised for the duration of the pandemic,” the US Food and Drug Administration (FDA) has stated.
A $1Billion valuation would mean so-called ‘Unicorn’ status for LetsGetChecked, a company that allows customers to order a test right to their door, be it to check for a Sexual Transmitted Disease, fertility issues, certain cancers and much more. The company allows people to avoid the traditional method of going into a clinic to be tested, an aspect of the business particularly useful in Covid times to stem the spread of the virus.
McIlroy is no stranger to investing in the health sector having teamed up with German-based Kaia Health, a company that created an app to aid in the treatment of back and muscle pains. McIlroy himself suffered from back pain earlier in his career and the investment was one close to his heart – or his back – and another fruitful venture given the company announced revenue growth of 600% last year, again largely due travel restrictions and social distancing brought about by the pandemic.
McIlroy’s investment Portfolio also includes Whoop, Golf Genius, and Golf Pass. The 31-year old’s net worth is said to be upwards of $150million.
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