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, the company said.

Previous investors Define Ventures and Polaris Venture Partners will also participate in the round, which follows quickly on the heels of Folx’s launch from stealth in December 2020.įor its patients, Folx Health is offering Hormone Replacement Therapy (HRT: testosterone or estrogen) with monthly plans starting at $59 a month. “Our individual identities, whether it be socioeconomic status, race, gender… all of these things inform how we interface with the medical industrial complex,” Cheatham said. That includes companies like Spora Health and Live Chair Health, which focus on providing healthcare specifically to people of color. She’s building a healthcare experience that is celebratory and dignified rather than one that pathologizing healthcare,” said Cheatham.įor Bessemer and Cheatham, the investment speaks to broader opportunities to identify specific populations that need care tailored to their specific experience. “We believed in the vision and the approach that she’s taking. Telescoping out to the opportunity to provide care to the LGBTQ community broadly, when that population represents about 10% to 20% of the population, is a “deca-billion opportunity,” said Cheatham.īreitenstein envisions offering family planning services, broad primary care and sexual health and wellness care in addition to the hormone therapies that the company currently offers.įolx joins a cohort of companies tackling health issues specifically for the LGBTQIA+ community, which include the mental healthcare service Violet Included Health, an employee benefit service and Plume, which focuses on care for the transgender community.

“At that math, when we looked at that, we were able to see a multibillion-dollar market opportunity not just to provide, but to provide a healthcare destination for this community.” “At a high level, 2% of the population identify as transgender,” said Cheatham. That was one reason why Bessemer Venture Partners leapt at the chance to lead the new financing round for Folx, according to Morgan Cheatham, an investor out of Bessemer’s New York office. It’s about time we build a platform for ourselves, so Queer and Trans people feel seen, heard, and celebrated,” Breitenstein said in a statement. “Whether it’s HRT, PrEP, sexual health or family creation, health care is essential for us to be who we are. “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.”īreitenstein said Folx would be using the cash to try to expand to all 50 states and increase the available products and services the healthcare company would look to make available to the queer and trans community. Breitenstein, the founder and chief executive of Folx Health.

“We have a good sense of the nature of the need and the depth of the pain in the community,” said A.G. And it’s all made possible by virtual interactions. It’s part of a revolution in care that’s targeting the needs of specific communities with access to physicians that understand those needs. Folx Health is leveraging the explosion of virtual care services to offer greater access to healthcare focused on the needs of the LGBTQIA+ community, and has raised $25 million in new funding to help it grow.

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