Folx Health lands $25M to develop its LGBTQA+ health platform, Digital PBM Capital Rx scores $50M and more digital health fundings
This morning LGBTQIA+ focused digital health provider Folx Health scored $25 million in new financing. Bessemer Venture Partners led the round with participation from Define Ventures and Polaris.
Founded by former Optum VC, A.G. Breitenstein, this comes just months after the company announced its $4.4 million seed funding.
Folx is kicking off its offerings with a Hormone Replacement Therapy plan, as well as sexual health and wellness services. Patients will also be able to tap into clinical support for home testing and to home delivery medication. The company is also launching a new library of resources on Queer and Trans health that will be free. Over the next year the company is looking to expand its footprint to a national level and expand its offerings.
“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,” Breitenstein, founder and CEO of FOLX Health, 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. It’s about time we build a platform for ourselves, so Queer and Trans people feel seen, heard, and celebrated.”
Tech-enabled PBM Capital Rx scored $50 million in Series B funding this week. Transformation Capital led the round with participation from Edison Partners.
The company’s offerings include an enterprise pharmacy platform and integrated patient mobile app called JUDI. The company is planning on expanding the tool to include AI to inform clinical care.
“Capital Rx started its mission three years ago to change the way prescriptions are priced and serviced to create enduring social change,” AJ Loiacono, CEO at Capital Rx, said in a statement. “With this capital raise, we are excited to see our vision and technology accelerate an era of positive disruption in healthcare.”
HealthTensor, AI enable clinical decision support tool, announced that it closed a $5 million seed funding round this morning. Calibrate Ventures, TenOneTen Ventures and Susa Ventures led the round, with participation from individual investors.
The tool was designed to dig through raw medical data and in turn use algorithms for AI-enable diagnosis support. The company pitches its tech as a way to ease physician burden and improve patient results.
“We think of HealthTensor as an AI-powered medical resident that is focused specifically on the tedious, data-driven aspects of medicine, which is what computers do best,” said Eli Ben-Joseph, cofounder and CEO of HealthTensor. “Many doctors are forced to spend a majority of their day focused on data aggregation from medical records, which leads to missed diagnoses, patient dissatisfaction, and physician burnout. HealthTensor frees up the physician to focus on the conceptual and emotional aspects of medicine, which is what humans do best.”
California startup Cutback Coach, a platform focused on helping users cut back on alcohol usage, announced a $3.1 million seed funding round. Stephanie Palmeri of Uncork Capital led the round, with participation from Nico Wittenborn of Adjacent Venture Capital; James Park of Fitbit; Mike Lee of MyFitnessPal; Logan Green, founder and CEO of Lyft; Ni Eyal; and angel investor Kevin Carter and other individual investors.
Users can tap into a six-month recovery program. Clients can exchange two-way texts with coaches. The program also stresses the benefits of cutting back on drinking, including sleep quality, weight management and more energy.
Digital neurological health assessment company C. Light Technologies scored $2.5 million in a seed-funding round led by Creative Ventures with participation from Yamaha Motor Ventures, Wisconsin Investment Partners, Berkeley Skydeck Fund, the Band of Angels, EGB Capital, Monde Green Ventures, Puck Ventures and the Vectors Angel Group.
This new round brings the company’s total funding to roughly $3.25M. The team at C. Light Technologies developed a 10-second retinal eye-tracking scan for neurological diseases. It plans on using the latest infusion of cash to improve its prediction for multiple sclerosis and to continue to develop the tracking device. The funds will also go towards getting the product through FDA clearance.
“We are on the verge of major breakthroughs in the neurodegenerative space – and it could not have come at a better time. Worldwide, millions of people suffer from neurodegenerative health conditions, including MS, Alzheimer’s and Parkinson’s,” said Dr. Christy K. Sheehy, P.h.D., C. Light Technologies’ cofounder and CEO.
“Innovative and objective biomarkers to better understand neurological disease progression and therapeutic efficacy are desperately needed. We take pride in being on the forefront of innovation and look forward to reshaping the neurodegenerative landscape using our noninvasive, cost-effective solutions.”