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. Chronosphere is a remote-first company, backed by Geodesic Capital, GV, Glynn Capital, Greylock, Lux Capital, General Atlantic, Addition and Founders Fund.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. Teams at organizations of all sizes trust Chronosphere to help them drive competitive advantage and world-class customer experiences while reducing engineering burnout and eliminating lock-in. Faster alerts and issue resolution ensures responsive and reliable cloud native workloads underlying the most valuable services at leading organizations like DoorDash, Robinhood, and Abnormal Security. 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.Ĭhronosphere is the only cloud native observability platform that puts engineering organizations back in control by taming rampant data growth and cloud native complexity while accelerating innovation. 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 Earlier this month, FOLX Health was named one of the five companies creating a more equitable healthcare system as part of Fast Company's annual Most Innovative Companies issue. In January, Chronosphere raised $115M in venture funding at a $1.6 billion valuation. This news comes on the heels of major milestones for both organizations. We are now providing them with the individualized healthcare they need - on their own terms." "Including FOLX in our benefit offerings underscores our commitment to all of our employees' well being, both physically and mentally. Beyond building internal employee resource groups, we understand that the onus is on us to provide all employees with the benefits and tools they need to lead their best lives - both personally and professionally," said Gabriela Serret-Campos, Global Head of People & Talent at Chronosphere. "We take diversity, equity, and inclusion seriously at Chronosphere.
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