Digital LGBTQIA+ healthcare startup FOLX Health raises $25M

FOLX Health Inc., a startup designed to offer online digital health care services to the LGBTQIA+ community, announced today it has raised $25 million in new funding to expand its services to all 50 U.S. states and increase its products and services.

The Series A round was led by Bessemer Venture Partners and included Define Ventures and Polaris.

Founded in 2019 and launched out of stealth in December, FOLX Health offers a digital health services platform with a medical service marketplace tailored toward the queer community. The startup combines a specialized network of queer and trans clinicians with a focus on clinical offerings that are said to be marginalized in traditional health settings.

The company focuses on providing patients gender-affirming hormone therapy, sexual health and family creation services. Other services include erectile dysfunction treatment, pre-exposure prophylaxis and sexually transmitted disease testing.

Along with the funding announcement, FOLX Health also announced the availability of its Hormone Replacement Therapy service with monthly plans starting at $59 along with the launch of sexual health and wellness offerings. Starting with erectile dysfunction treatment, the service will soon expand to at-home STI testing and treatment customized for the queer and trans community. The services include unlimited on-demand clinical support and home-delivered medication.

The company also announced the launch of FOLX Library, pitched as a first of its kind content hub that will serve as a free resource for all things queer and trans health. The library is said to address questions and concerns ranging from an overview of the expected physical changes with HRT to how to navigate the health system.

Including the new funding, FOLX Health has raised $29.4 to date, according to Crunchbase.

Image: FOLX Health

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