![]() ![]() The value proposition slide in FOLX health’s pitch deck visualizes the company’s offerings and why LGBTQIA+ people are excited to do business with them. The data is clear: having no value proposition (or in simpler words: a product that nobody wants) is the biggest reason of failure for startups. ![]() In another independent analysis of 80 interviews of failed startups, 34% of the companies pointed toward lack of market need as the major reason for failure. What were the slides in the FOLX Health pitch deck?īrowse the exact example slides from the pitch deck that FOLX Health used to raise $30M.Īccording to a CB Insights study, lack of market need is the most common reason for the failure of a startup (accounting for 42% of failures). Here’s a look at the pitch deck that was used to raise $30M in a Series B round led by 7wireVentures. “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+,” Shapiro of 7wireVentures said in a statement. The company has now announced a $30 million series B round to offer and expand new services to clients, including behavioral health and mental health services.ħwireVentures led this latest round with additional investments coming from previous partners Bessemer Venture Partners, Define Ventures, and Polaris Partners, as well as new partner Foresite Capital. FOLX Health will also launch a community platform with LGBTQIA+ health resources, peer groups, live events, learning programmes, and community-based content.įOLX announced a $4.4 million seed when it emerged from stealth in late 2020, followed by a $25 million Series A in February 2021. Grindr, planful, and the Ali Forney Center, among other technology companies, are currently providing gender-affirming, sexual, and reproductive health care to their employees through FOLX Health. ![]() In addition to the virtual care platform, the company is entering the employer market with the launch of an enterprise solution. Then, two, telehealth is immensely more scalable from a resource perspective so we can cover an entire state and people don’t have to drive two or three hours to get to the one source of competent care in their state,” Breitenstein, Founder and Executive Chair of FOLX said in an interview. One is, for folks who may not feel safe in many cases, going into settings where there’s not a good understanding of the community, gives them an alternative space to access care. “What telehealth does is really two things for us. Later, the company added sexual health services as well as a virtual care platform for general health and primary care. Our biggest challenge is how do we take our vision for the future of health and make it work in the context of a system that is hard to shift and modernize.”įOLX Health began by providing transgender patients with hormone replacement therapy. “This is an opportunity to provide individualized care for this community. “This is a community that has for far too long suffered at the hands of a system that is, in the best-case scenario, indifferent, and in the worst-case scenario, abusive,” Douillet Guzmán, CEO of FOLX Health said. ![]() FOLX Health, founded by CEO Douillet Guzmán in December 2020, offers end-to-end virtual primary care, HRT, PrEP, care navigation, content, and community via a diverse network of queer and trans-specialized providers. According to a 2018 study, the majority of transgender patients (70%) face discrimination when seeking care, leading nearly half (44%) to avoid the emergency department when they require acute care.įOLX Health, a healthcare services provider based in Boston, MA, is attempting to make medical care more accessible to the LGBTQIA+ community. Queer and transgender patients face significant challenges in accessing quality healthcare. ![]()
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