Many of the products the company offers through their Folx Health subscriptions aim to break down the barriers surrounding gender transitioning. They are an intermediary healthcare company that connects LGBTQ+ with clinicians and healthcare providers. Despite being so new, they’ve gotten over $25m in funding from sponsors who believe in the company’s vision. Breitenstein formed Folx Health in May 2020 in Boston, Massachusetts. It raised $14 million last year and another $24 million this summer.A.G. Another company in the LGBTQ-focused virtual care space is Plume, which concentrates on hormone therapy.
#Folx health insurance series#
In comparison, fewer than one in five non-LGBT+ respondents said they'd had those experiences with a provider.įolx announced a $4.4 million seed when it emerged from stealth in late 2020, followed by a $25 million Series A in February 2021. More than a third reported negative experiences when visiting a healthcare provider, like dismissing their concerns, suggesting they were to blame for a health problem or not believing they were telling the truth. According to a report published last year by the Kaiser Family Foundation, LGBT+ people are more likely to say their health is fair or poor compared with non-LGBT+ people, even though the population is generally younger. LGBTQ+ patients face health disparities compared with the general population.
And so, as a result of that, we've built this incredibly engaged and passionate community," she said. "I don't think a lot of One Medical patients want to connect with other One Medical patients, but Folx members are really excited to connect with other Folx members. Though many patients could eventually receive both individual and group-based care, Guzmán said the community aspect is particularly salient for Folx's patient base. They'll launch this month in areas like fertility, family planning and parental support, with more types of groups to be added next year.
#Folx health insurance full#
Guzmán said the goal is to offer a full suite of mental and behavioral healthcare, but the startup will begin with expert-led support groups. The investment will also go toward scaling Folx's new employer offering, building customer support teams and working toward accepting insurance coverage. "We've been able to do small tests in each of those across the last few months, and are really excited to be able to leverage this investment to double down." "In the last few months, we started to - in conversation with the community - launch things like our virtual healthcare platform, where we're able to provide general telehealth services, parental and fertility consults, expert-led support groups, peer support groups, content and community," Folx CEO Liana Douillet Guzmán told MobiHealthNews. The company later added sexual health offerings as well a virtual care platform geared toward general health and primary care. Launched in late 2020, Folx Health started with providing hormone replacement therapy for transgender patients. As part of the financing, 7wireVentures Managing Partner Lee Shapiro, formerly chief financial officer of Livongo, will join Folx's board of directors.
Others participating in the round include Foresite Capital and existing investors Bessemer Venture Partners, Define Ventures and Polaris Partners.
Folx Health, which offers virtual healthcare services for the LGBTQ+ community, raised $30 million in a Series B funding round led by 7wireVentures.
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