Folx healthcare series#

Younger generations in particular are increasingly accepting their sexual and gender identities. The LGBTQIA+ population is one of the fastest-growing demographic segments in the U.S., with the share of adults who identify as queer or trans increasing from 3.5% to 7.1% between 20. This, coupled with an increasingly hostile public discourse in the U.S and attacks on LGBTQIA+ rights and protections, underscores the clear need for an accessible, contextualized care model tailored to this community.Ī Large and Growing Market Demanding Tailored Solutions Mental health concerns are particularly acute among trans and queer youth, with 40% to 50% of LGTBQIA+ youth seriously considering attempting suicide. Further, members of the community face staggering rates of behavioral health issues. 50% of the LGBTQIA+ community experience healthcare discrimination and 50% have had to educate their clinicians on their unique health attributes. Today, many queer and trans individuals avoid care out of fear of discrimination and mistreatment, lack of culturally competent providers, and affordability concerns. We are excited to partner with 7wireVentures to accelerate our enterprise offerings and bring a new standard of affirming care and advocacy to the millions of employees who identify as LGBTQIA+.” Why We Invested

“We are at a pivotal cultural moment in this country, and it is time for healthcare to finally see, hear, and celebrate the needs of our trans and queer communities”, said Liana. The company’s support groups and community platform will be supplemented by one-on-one sessions and a mobile companion app for always-there mental health support. Further, through an expanded community platform, FOLX members will be able to build peer networks of individuals on similar personal and healthcare journeys. FOLX Health’s mental health offerings will launch this month, starting with expert and clinician-led support groups focused on serving the community and their loved ones in areas, including fertility, family planning, and parental support. However, when made accessible, mental health treatment and welcoming, empathetic communities can drive improved outcomes. Today, those who identify as LGBTQIA+ are nearly three times as likely to experience depression, anxiety, and substance abuse relative to their heterosexual counterparts. As a complement to these services, FOLX provides a wide-ranging content library and destigmatizing community resources to demystify healthcare for its members.įOLX most recently expanded its offerings to address the outsized mental and behavioral health needs present among queer and trans individuals. The company’s virtual care offering, delivered by a diverse network of culturally competent providers, enables FOLX members to seamlessly access primary care, sexual health care, gender-affirming hormone replacement therapy, and PrEP. FOLX’s comprehensive platform compassionately and effectively supports members throughout the health care journey in ways that the existing system falls short. As a result, the company, led by CEO, Liana Douillet Guzmán, continues to invest in meeting the whole person needs of their queer and trans members. Since its inception, FOLX has placed the needs of the consumer and their community at the center. It exists because we need and deserve something better.” FOLX was founded as a repudiation of the status quo. “As a queer or trans person, navigating the healthcare system is at its best uncomfortable and at its worst terrifying,” said A.G. Breitenstein, whose experiences with identity-based healthcare discrimination spawned the business, FOLX Health was incubated by Define Ventures. 7wireVentures is proud to be partnering with FOLX to transform healthcare for and with the community they serve.”įounded in 2019 by Executive Chair, A.G.

“As a platform purpose-built for the queer and trans community, FOLX is uniquely positioned to be the leader in LGBTQIA+ care. “Over time, personalized care will come to mean that consumers can receive care from clinicians who deeply understand their cultural context,” said Lee Shapiro, Managing Partner at 7wireVentures.

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.

Folx healthcare series#

We 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.