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Health, Wellness & Biotech

GBTQIA+ Community Healthtech Startup FOLX Raises $30M

Illustration of doctor/patient on virtual appointment.

The current health care system is not built to support queer patients.聽

One study from 2019 found due to distrust and discrimination, making it hard for patients and their families to properly assess the impacts of gender-affirming services, fertility care or family planning.

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Boston-based , a telehealth platform focused on comprehensive care for the LGBTQIA+ community, is one of a few startups entering a market for queer health care. The startup announced on Wednesday it raised $30 million to scale its platform. Funding was led by with participation from firms like , bringing total funding to $59.4 million, according to SA国际传媒 data.

FOLX Health launched in 2020 to offer a suite of virtual primary care and queer-specific health care services from specialized doctors. Earlier this year the company launched an employer benefits product that would allow companies to offer specific services like hormone replacement therapy, PrEP (pre-exposure prophylaxis, which reduces the chance of getting HIV) and sex health consults.

The company also offers virtual support groups, community forums and resources for parents of queer or trans children.聽

Primary care is getting niche

Navigating the health care system requires comprehensive and holistic care, but it never quite shakes out that way. And .

Doctors and specialists are often siloed from each other, and a single patient will have bits and pieces of a complicated health history scattered across physicians who can鈥檛 compare notes. Doctors, inundated with appointments, can鈥檛 glean information about a patient鈥檚 mental health, religious background or lifestyle that may impact their ability to follow through on orders through a 15-minute appointment.

Young Americans , a key pillar by which most are expected to use to navigate the rest of the health care system.聽

Overall, there are only a handful of startups catering to queer health. Funding so far in 2022 has reached $80 million for companies like , which raised $24 million earlier this year to offer gender-affirming telehealth services for transgender patients.聽

But FOLX is an example of primary care startups moving into the primary care space to provide comprehensive care in niche segments. , a New York-based telehealth platform, connects Black women to doctors that understand their health and lifestyle environments. and provide health care services specifically for college-age women.

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