{"data":{"type":"company_profile_ai","id":72127,"entity_id":"wefunder:company:72127","attributes":{"canonical_url":"https://wefunder.com/iassay","retrieval_urls":{"canonical":"https://wefunder.com/iassay","json":"https://wefunder.com/iassay.json","markdown":"https://wefunder.com/iassay.md","ai_json":"https://wefunder.com/iassay.ai.json","ai_text":"https://wefunder.com/iassay.ai.txt","changelog_json":"https://wefunder.com/iassay.changelog.json","schema":"https://wefunder.com/.well-known/ai-profile-schema.json"},"updated_at":"2026-06-27T05:03:59Z","generated_at":"2026-06-27T11:37:58Z","profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"company":{"id":72127,"entity_id":"wefunder:company:72127","slug":"iassay","name":"SimpleTest by iAssay","tagline":"Improving medical testing by putting the lab in the palm of your hand","elevator_pitch":"SimpleTest is a portable medical test reader, with a universal adapter, that allows tests to be read anywhere, eliminates human error, and produces results in minutes.","location":"San Diego, CA","website":"https://iassay.net","total_amount_raised":226015,"total_investors":144,"is_funded":false,"is_active":false},"key_claims":[{"claim_id":"claim-total-raised","text":"Total raised on Wefunder: 226015","citation":"https://wefunder.com/iassay#claim-total-raised","provenance":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-27T05:03:59Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-06-28T05:03:59Z"},{"claim_id":"claim-total-investors","text":"Total investors: 144","citation":"https://wefunder.com/iassay#claim-total-investors","provenance":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-27T05:03:59Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-06-28T05:03:59Z"}],"verified_facts":[{"claim_id":"claim-total-raised","text":"Total raised on Wefunder: 226015","citation":"https://wefunder.com/iassay#claim-total-raised","provenance":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-27T05:03:59Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-06-28T05:03:59Z"},{"claim_id":"claim-total-investors","text":"Total investors: 144","citation":"https://wefunder.com/iassay#claim-total-investors","provenance":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-27T05:03:59Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-06-28T05:03:59Z"}],"company_claims":{"tagline":"Improving medical testing by putting the lab in the palm of your hand","elevator_pitch":"SimpleTest is a portable medical test reader, with a universal adapter, that allows tests to be read anywhere, eliminates human error, and produces results in minutes.","story":"⚕️For too long huge healthcare technology companies have created closed systems that prioritize profits over patient care. Fortunately, technology innovation, spurred by the Covid-19 pandemic has helped achieve a breakthrough that will upend this $82 Billion industry. iAssay has developed a patented Point of Care (POC) testing device, SimpleTest, that completely changes the game.🧪We’ve taken the lab, fixed it, and put it in your pocket.\u0026nbsp;👩‍⚕️ What is Point of Care? Something hurts, maybe you ignore it at first, but after a couple of days it hurts enough that you finally decide to go to the doctor who orders a couple of basic tests. Now you’ve got to make an appointment, go to a lab, get the tests done and wait for the results. Finally you have a follow up with the doctor. If you’re lucky the whole thing took a week, and that was before Covid. But, it doesn’t have to be that way; POC test readers enable many of the most common laboratory tests to be done anywhere, with results in minutes. Even better, POC readers automate manual processes, which means less human errors, less false positives and better patient outcomes. Meet what we believe to be the\u0026nbsp;first and only universal POC testing deviceThe hallmark of a closed system is when everything is proprietary. Their test strips work on their device and their device only. Lonnie Adelman, iAssay's CEO\u0026nbsp;had a better idea. He imagined a universal reader that allows hundreds of different tests from dozens of manufacturers all to be read on a single cloud-connected device. SimpleTest can analyze a wide array of tests including drugs of abuse, cardiology, hematology, OB/GYN, infectious diseases, oncology, and Covid-19.💡 An idea is bornLonnie Adelman is an engineer both by training and force of habit. An HP veteran, it was about 7 years ago that Lonnie first learned about point of care testing. He was dismayed that you couldn’t perform the range of tests a patient needed with a single device, because each reader was limited to the set of tests belonging to\u0026nbsp;a particular manufacturer. 🌳 After a year of tinkering Lonnie noticed that a commonality in the tests would allow for cross-platform reading. Then came a breakthrough. Smartphone technology had advanced to the point where it could be implemented into the reader! What was needed was an adapter, a modular system that would allow for interoperability. The addition of data syncing with multiple data cloud platforms was the final piece of the puzzle. The seeds of SimpleTest, a revolutionary, holistic solution, had taken root. 💰 The OpportunityThe POC testing industry has experienced explosive growth in the past year, which is only projected to increase for the foreseeable future. Added to this, SimpleTest’s HIPAA compliant ability to sync with multiple cloud computing platforms enables anonymized data for research and big data mining, itself projected to be a staggering $68 Billion industry by 2025. SimpleTest has a range of application settings from Medical clinics, nursing homes, long term care facilities to workplace drug and covid testing, to individuals. Healthcare data providers such as Advera, Optum and Apixio would be an independent revenue stream.🏆Competitor Landscape🏁 Go To MarketSimpleTest is ready to go to market today. Current partnerships with GattaCo, Vanderbilt Medical, and David Geffen School of Medicine have validated our business model. On the horizon are potential partnerships with worldwide, national and regional labs. We’re ready to tear down the barriers that have hindered healthcare for too long. Now is the time to democratize medical testing, and transform data into treatment. Join us in unleashing the future of medical care.","quick_facts":["This is the 1st and only patented universal medical test reader","We're tapping into the $68 Billion Healthcare Data industry with a cloud computing solution","Our device eliminates manual errors which means better, faster, smarter healthcare for all","This device will improve the quality of Covid-19 testing","Experienced advisory board, including founder of Genoptix, Nanogen, MBI - all successfully exited","USPTO has already granted 2 patents for SimpleTest, with more patents pending","We have secured first revenues"]},"computed_metrics":{"total_amount_raised":226015,"total_investors":144,"team_size":4,"featured_investor_count":1,"faq_count":5,"recent_post_count":0},"quick_facts":[{"claim_id":"claim-fact-1","value":"This is the 1st and only patented universal medical test reader","citation":"https://wefunder.com/iassay#claim-fact-1","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"},{"claim_id":"claim-fact-2","value":"We're tapping into the $68 Billion Healthcare Data industry with a cloud computing solution","citation":"https://wefunder.com/iassay#claim-fact-2","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"},{"claim_id":"claim-fact-3","value":"Our device eliminates manual errors which means better, faster, smarter healthcare for all","citation":"https://wefunder.com/iassay#claim-fact-3","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"},{"claim_id":"claim-fact-4","value":"This device will improve the quality of Covid-19 testing","citation":"https://wefunder.com/iassay#claim-fact-4","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"},{"claim_id":"claim-fact-5","value":"Experienced advisory board, including founder of Genoptix, Nanogen, MBI - all successfully exited","citation":"https://wefunder.com/iassay#claim-fact-5","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"},{"claim_id":"claim-fact-6","value":"USPTO has already granted 2 patents for SimpleTest, with more patents pending","citation":"https://wefunder.com/iassay#claim-fact-6","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"},{"claim_id":"claim-fact-7","value":"We have secured first revenues","citation":"https://wefunder.com/iassay#claim-fact-7","observed_at":"2026-06-27T05:03:59Z","expires_at":"2026-07-04T05:03:59Z"}],"latest_fundraise":{"id":38668,"entity_id":"wefunder:fundraise:38668","state":"successful","offering_type":"4(a)(6)","structure":"convertible_note","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2021-01-04T20:39:08Z","funding_closed_at":"2021-07-01T05:02:56Z"},"investor_memos":[],"team":[{"id":1224278,"entity_id":"wefunder:company_role:1224278","name":"Lonnie Adelman","title":"CEO","role":"founder","profile_url":"https://wefunder.com/lonnieadelman"},{"id":1283000,"entity_id":"wefunder:company_role:1283000","name":"George Foo","title":"Director of Operations \u0026 Supply Chain","role":"employee","profile_url":"https://wefunder.com/george.foo"},{"id":1283003,"entity_id":"wefunder:company_role:1283003","name":"Edward Strong","title":"Scientific Director","role":"employee","profile_url":"https://wefunder.com/edwardstrong"},{"id":1283014,"entity_id":"wefunder:company_role:1283014","name":"Tom Hayhurst","title":"Director of Business Development","role":"employee","profile_url":"https://wefunder.com/tom.hayhurst."}],"featured_investors":[{"id":4549,"entity_id":"wefunder:company_investor_profile:4549","name":"Paul Rashid","bio":"Paul Rashid MD is a board-certified psychiatrist and an Angel Investor who has contributed to many telemedicine and digital health companies","profile_url":"https://wefunder.com/paulrashid"}],"relationships":[{"source_entity_id":"wefunder:company:72127","relation":"has_team_member","target_entity_id":"wefunder:user:1172485","target_url":"https://wefunder.com/lonnieadelman"},{"source_entity_id":"wefunder:company:72127","relation":"has_team_member","target_entity_id":"wefunder:user:1251228","target_url":"https://wefunder.com/george.foo"},{"source_entity_id":"wefunder:company:72127","relation":"has_team_member","target_entity_id":"wefunder:user:1251370","target_url":"https://wefunder.com/edwardstrong"},{"source_entity_id":"wefunder:company:72127","relation":"has_team_member","target_entity_id":"wefunder:user:1250479","target_url":"https://wefunder.com/tom.hayhurst."},{"source_entity_id":"wefunder:company:72127","relation":"has_featured_investor","target_entity_id":"wefunder:user:298304","target_url":"https://wefunder.com/paulrashid"},{"source_entity_id":"wefunder:company:72127","relation":"has_latest_fundraise","target_entity_id":"wefunder:fundraise:38668"}],"faq":[{"question":"What type of cartridges have you planned for? How will you make sure their efficacy is monetizable?","answer":"Thanks for your question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. iAssay onboards by adapting cartridges cleared through regulatory, manufactured, and marketed by companies and distributors who are already in market, and already selling, so market size and profitability for those cartridges is already known. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests."},{"question":"I am a physician. What specific tests are available? Are these HIPPA WAIVED?","answer":"Thanks for this question. To clarify, I think you mean CLIA Waived. For the benefit of anyone else reading, CLIA waived tests are tests that anybody is authorized to run. For example a drugstore pregnancy test is CLIA waived. Urine drugs of abuse tests for our intended markets do not require FDA Clearance, so anybody can run those tests. Currently COVID-19 tests are not CLIA waived. The SimpleTest system is 100% HIPAA compliant. The SimpleTest unit never has patients’ personal information on ..."},{"question":"Show the product, where are you at with development, production, etc.","answer":"The CyberReader Model 2030 works well for test strips, is connected to our SimpleCloud to store test results and allow review. It is ready to support Drugs of Abuse and COVID-19. We have already manufactured units, and we are ready to ramp up with orders. Much of the the SimpleTest 2 engineering is complete, and we are counting on the fundraise here on WeFunder to complete the design, testing, and product launch."},{"question":"What Tests does it test for !!!","answer":"Appreciate the question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests."},{"question":"Hi. I have a few questions: -How much will the reader and strips cost? -What are your revenue goals for the next 5 years? -Can it do blood and urine tests like a regular physical exam? That would eliminate the need for doctor visits for that purpose... -Will the tests be able ...","answer":"-How much will the reader and strips cost? There is no charge for the SimpleTest reader itself. We place the unit with a customer, and then we charge $1 per test performed. We do not produce the strip tests ourselves, our universal reader is able to read a wide array of 3rd party strips. The cost of those strips vary from $1 to over $20. -What are your revenue goals for the next 5 years? Knowing what revenues will be in 5 years is nearly impossible to predict—the range would be so big as to b..."}],"recent_posts":[],"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-27T11:37:58Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-27T05:03:59Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-27T05:03:59Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-27T11:37:58Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-27T11:37:58Z","confidence":"medium"}}}}}}