Colorado-based digital health startup Plume landed $14 million in Series A funding for its virtual platform designed to help members of the transgender community find health services. Craft Ventures led the round with participation from General Catalyst, Slow Ventures and Town Hall Ventures.
This comes roughly a year after the company launched its product to the public with a focus on gender-affirming care.
WHAT IT DOES
The platform was built to help guide transgender folks through the gender-affirming care process. It is designed as a membership service that includes the initial evaluation, labs, letters, progressing monitoring, virtual care and prescription issuing. The company also offers a letter for support for $150 for nonmembers that need the document in order to go ahead with surgeries. This service also includes a virtual visit.
Members are able to download an app where they can store their health information. This digital application also lets users communicate with care teams by text, phone or video chat. When a user onboards, they are asked to fill out a medical intake form on the app.
Once that is completed, they can virtually meet with a medical provider to develop a personalized care plan. At this point the clinician can also go over lab monitoring. Patients will then be able to get medications if prescribed by a doctor.
WHAT IT’S FOR
The company said it plans to use the new funds to expand its national footprint and invest in new staff that specializes in transgender community members' health. The company also said it is looking to reach new markets.
THE LARGER TREND
Within the last few years a number of LGBTQA+ focused digital health startups have emerged. In fact, at the beginning of the month, Folx Health scored $25 million in new financing for its platform, which will kick off its offerings with a hormone replacement therapy plan, as well as sexual health and wellness services.
In 2019, Backpack Health announced a new service designed specifically to help transgender and nonbinary people manage their data. The platform was built to track medical information, including replacement therapies, blood work, surgeries and post-operative care needs.
ON THE RECORD
"Access to gender-affirming care can be lifesaving for those who need it," Lainy Painter, principal at Craft Ventures, said in a statement. "While a small number of clinics have focused on the trans community, the vast majority of patients have been unable to access affordable care.
"Plume has built a team of providers, care coordinators, and clinical managers that are trans specialists and allies to their patients. They are making possible what has until now been a distant promise of the future. We are excited to partner with this excellent, purpose-driven team."
