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Folx Health

Telehealth
Segments:
Specialized Telemedicine
?
Product stage:
Early
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Folx Health is a membership-based telehealth platform serving the LGBTQIA+ community through 24/7 virtual consultations and messaging. The company’s service offering included hormone replacement therapy and Erectile Dysfunction treatments ranging from USD 59 - 200 per month. In May 2021, the company announced its plans to release HIV pre-exposure prophylaxis (PrEP) for HIV prevention as well as sexual health and wellness services, such as at-home STI (sexually transmitted infections) testing and treatments, customized for the LQBTQIA+ community. Folx’s services will also include unlimited on-demand clinical support for home testing and home-delivered medications. In addition, the company’s FOLX Library offers free content on queer and trans-focused health. Founded in December 2020, the company provides care in 42 states to 10,000 people as of October 2022.

In June 2022, the company launched an enterprise solution for its LGBTQ+ telehealth offerings. The platform offered end-to-end virtual primary care, gender-affirming care, and care advocacy through employers. Parents of LGBTQ+ youth also have access to these offerings along with additional services such as support groups, educational content, and care referral programs.

Key customers and partnerships

In January 2024, Folx Health partnered with TBD Health as part of TBD Health's new B2B offering. Through the partnership, Folx Health users gained access to TBD's at-home Sexually Transmitted Disease (STD) kits and depend on its labs for next-day results.

In March 2024, Folx Health partnered with Crisis Text Line, a global nonprofit organization, to provide FOLX members access to free text-based mental health support services on a round-the-clock basis.

Funding and financials

In October 2022, the company raised USD 30 million in a Series B funding round led by 7wireVentures. The funds were set aside to include mental and behavioral health services in its offering with the end goal of developing a full suite of services. Initially, the company planned to roll out expert-led support groups targeting areas such as fertility, family planning, and parental support. These support groups are supplemented with one-on-one consultations. Additionally, the company planned to add more support groups in 2023, along with launching an iOS and Android-based companion app to improve access to these services.

Key stats
Featured companies
270
Total funding (USD)
19.8 Bn
Total addressable market (USD)
51.5 Bn
Key competitors
 
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Company profile
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EDGE Insights

EDGE100: The rising startups at the forefront of innovation
Liana Guzmán, CEO of Folx, on the $400B market for LGBTQIA healthcare

Recent Updates

Partnerships
Mar 27, 2024
FOLX Health partners with Crisis Text Line to offer mental health support services
Telehealth
Funding
Oct 12, 2022
Folx Health raises USD 30 million in Series B funding
Telehealth
Product updates
Management news
Jun 9, 2022
Folx Health launches enterprise-focused solution and onboards new CCO
Telehealth

Company Brief


HQ location:
One Boston Place Suite 2600, Boston, MA Boston MA USA
Founded year:
2020
Employees:
51-100
Total Funding:
USD 59.4 million
Last Funding
USD 30.0 million, Oct 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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