![]() ![]() With this new financing and strong syndicate of like-minded investors, FOLX will expand the company’s direct-to-employer offering, meaningfully increasing access to more equitable, supportive, convenient, and enjoyable healthcare experiences for the LGBTQIA+ community. We are delighted to support the company alongside a strong syndicate of like-minded investors, including new investor Foresite Capital and existing investors Bessemer Venture Partners, Define Ventures, and Polaris Partners. FOLX is the market’s first virtual healthcare platform uniquely designed to address the needs of the LGBTQIA+ community. Visit are proud to announce that 7wireVentures has led an investment in FOLX Health (FOLX) as part of the company’s $30M Series B financing round. As company builders, the 7wire team has assumed highly involved roles, in some cases, even pursuing a Hatch strategy to start promising new ventures. ![]() Being highly selective with investments, the fund works side-by-side with founders to build companies that change the status quo and empower consumers to be better stewards of their health. Fund successes, such as founding Livongo, are due in large part because the team are both seasoned operators and investors with extensive industry experience. In January 2021, FOLX Health established the FOLX HRT Care Fund which redistributes financial resources from allies inside and outside of the LGBTQIA+ community to support trans, nonbinary, and intersex folks to access hormone replacement therapy care through FOLX.ħwireVentures is a preeminent venture capital firm that invests in early-stage digital health companies supporting an Informed Connected Health Consumer – the epicenter of a consumer-first, tech-enabled convergence of the health and wellness markets. FOLX Health provides end-to-end virtual primary care, HRT, PrEP, care navigation, content, and community through a diverse network of queer and trans-specialized providers. The company delivers a new standard of healthcare that's built to serve LGBTQIA+ people, rather than treat them as problems to be solved. Launched in December 2020, FOLX Health is an LGBTQIA+ healthcare service provider built to serve the community's specific needs. To learn more about FOLX Health, visit ABOUT FOLX HEALTH This builds on the company's existing offering, which includes gender-affirming hormone replacement therapy, PrEP, care navigation, content, and community delivered through a diverse network of queer and trans-specialized providers. This funding comes on the heels of FOLX Health releasing its Virtual Healthcare platform, which offers community members in nearly all 50 states consults and prescriptions for general health, and sexual health - including access to birth control, treating infection, family planning, and more. By combining a network of clinicians highly attuned to the needs of the LGBTQIA+ community with convenient access to affirming content and peer connections, FOLX Health has established a new standard of queer and trans care for its members." "Now more than ever, there is a clear need to expand access to inclusive health services for the millions of Americans who identify as LGBTQIA+. "7wireVentures is proud to be partnering with FOLX Health during a pivotal moment in the company's trajectory," said Lee Shapiro. The company will also launch a companion iOS and Android app enabling real-time emotional and behavioral health support. Members will be able to build a community around themselves with those on similar journeys through an expanded community platform. FOLX Health's expert-led support groups will consist of multi-week group sessions led by an esteemed clinician or expert, followed by one-on-one consultations to implement individualized plans for users. This includes new expert-led support groups launching this month, which will serve to support the community and their loved ones in areas such as fertility and family planning and parental support, with more categories to roll out in 2023. This strategic investment enables FOLX Health to invest further in their recently launched enterprise and virtual health offerings as well as new product offerings that will further engage and support the LGBTQIA+ community across mental and behavioral health. "This funding is a testament to the importance of our mission, and we are honored that Lee and 7wireVentures are joining our efforts to create a more equitable healthcare system for the LGBTQIA+ community." It is our responsibility to provide offerings that enable folks to receive the care they need and deserve," said Liana Douillet Guzmán, CEO of FOLX Health. "Prior to finding FOLX, 78 percent of our members did not have access to affirming healthcare and 71 percent actively avoided seeking care for fear of discrimination.
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