FOLX Health Raises $25M Series A, Launches Product and Clinical Offerings for the LGBTQIA+ Community
The First Major Queer and Trans Ventured Backed Company Now Offers Virtual Clinical Consultations and Prescriptions for Hormone Replacement Therapy and Sexual Health
Feb 02, 2021, 08:51 ET
BOSTON, Feb. 2, 2021 /PRNewswire/ -- FOLX Health, the first digital healthcare service provider designed by and for the medical needs of the LGBTQIA+ community, today announces $25 million in new financing led by Bessemer Venture Partners. Existing investors Define Ventures and Polaris will also participate in the round. This milestone comes off the heels of FOLX Health coming out of stealth in December 2020, where the company raised $4.4 million in seed funding, led by Polaris.
"Our partnership with FOLX is a historical moment. It's challenging to articulate how transformative FOLX is for our community. We are so mindful of the brilliant and brave Queer and Trans people who fought for this moment to happen," said Morgan Cheatham of Bessemer Venture Partners.
FOLX Health is also announcing the availability of its Hormone Replacement Therapy (HRT: testosterone or estrogen) with monthly plans starting at $59 a month. FOLX Health will also begin releasing its sexual health and wellness offerings starting with Erectile Dysfunction (ED) treatment, soon to be followed by at-home STI Testing and Treatment, all customized for the specifics of Queer and Trans bodies. All services will include unlimited on-demand clinical support with at-home lab testing (for most plans) and home-delivered medications (costs may vary based on medication). Upon launch, FOLX Health is available in: CA, CT, DE, FL, IL, MA, NC, NY, TX, VA, WA. The company will leverage its new funding in order to drive national expansion and expand its offerings in sexual health and family creation later in 2021 and early 2022.
As part of its mission to demystify health care and build a Queer and Trans centric health service for the LGBTQIA+ community, FOLX Health is also launching the FOLX Library. This first-of-its-kind content hub will serve as a free resource for all things Queer and Trans health. Written by FOLX clinicians, its team, and community, this content will fill a need for accessible Queer and Trans focused health content that is informative, accessible and compelling. The Library addresses questions and concerns ranging from an overview of the expected physical changes with HRT to how to navigate the health system.
"As a non-binary lesbian and healthcare industry veteran, I have seen and experienced firsthand just how broken the current system is for the queer and trans community," said A.G. Breitenstein, Founder and CEO of FOLX Health. "Whether it's HRT, PrEP, sexual health or family creation, health care is essential for us to be who we are. It's about time we build a platform for ourselves, so Queer and Trans people feel seen, heard, and celebrated."
For more information on FOLX Health, please visit: https://folxhealth.com
About FOLX Health
Launched in December 2020, FOLX Health is an LGBTQIA+ healthcare service provider built to serve the community's specific needs. The company delivers a new standard of healthcare that's built to serve LGBTQIA+ people, rather than treat them as problems to be solved.
SOURCE FOLX Health
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