Twentyeight Health Announces 8.3 Million in Funding

Twentyeight Health Announces 8.3 Million in Funding


Twentyeight Health Announces 83 Million In Funding

Twentyeight Health, a telecontraception company, announced it raised $8.3 million in funding. These funds will be used for expanding its telemedicine and contraceptive prescription delivery services.

Twentyeight Health offers birth control pills, patches, rings, shots and emergency contraception prescriptions at low costs or covered by insurance like Medicaid. The company is now operating in six states including Florida, Maryland, New Jersey, New York and North Carolina.

The Company’s Mission

Twentyeight Health, a women's telemedicine startup founded in New York, is on a mission to increase access to reproductive health and sexual care for all. Cofounders Amy Fan and Bruno Van Tuykom strive to give women convenient options like online doctor evaluations, home delivery of prescriptions, and secure messaging with doctors.

Customers of this company can select from an array of FDA-approved birth control methods, including pills, patches and rings. All products are delivered directly to customers' homes at no extra cost or medical appointments required. Patients also get unlimited doctor follow-up messages for issues like updating prescriptions or managing potential side effects.

In addition to offering a comprehensive selection of contraceptive options, the company strives to reach out to underserved populations in America - particularly women living in "contraceptive deserts," where access to reproductive healthcare is severely limited.

To combat this issue, Bedsider offers free at-home birth control to patients and accepts Medicaid in 33 states. Furthermore, they donate 2% of revenues to Bedsider's Contraceptive Access Fund--which provides contraceptives and information for low-income women--for free.

Recently, the company raised $5 million from investors such as Third Prime and Town Hall Ventures for expansion in Washington, DC and beyond to the 33 states it currently serves. With these funds, they plan to deepen their presence and broaden their service offering beyond current boundaries.

Amy Fan and Bruno Van Tuykom founded Twentyeight Health with a vision to make reproductive healthcare more accessible for those in underserved communities. Motivated by the reality that 19 million women in America live in contraceptive deserts, they strive to provide women with their best options for fertility and family planning so they can live healthier, happier lives.

In today's rapidly-evolving digital health landscape, startups focusing on women's biology are enjoying unprecedented success. According to Rock Health - a nonprofit that tracks digital health investments - through August 2021 they raised an impressive $1.3 billion in funding through August 2021 alone.

Though much attention has been paid to gender equity in digital health, it's important to remember that many digital health startups have targeted people with female DNA; however, this segment only represents about 5% of all investments since Rock Health began tracking them in 2011. While femtech remains a small part of the overall market, it could become a major player in the near future.

The Company’s Technology

Twentyeight Health's technology is one of the standout features, featuring its telehealth platform. This allows users to have prescriptions and birth control delivered right to their home, plus access care through online audio consultations with doctors and follow-up messages from staff members.

Established in 2018, Twentyeight Health is a telehealth company dedicated to improving reproductive and sexual health outcomes for women from low-income communities. To sign up, customers complete a medical questionnaire that is reviewed by an U.S. board-certified doctor within 24 hours, after which they can access more than 100 FDA-approved brands of birth control pills, patches, rings, shots and emergency contraception.

The company provides care through online audio consultations and unlimited doctor follow-up messages to discuss issues like updating prescriptions or potential side effects. Furthermore, it assists people in accessing medications through Medicaid and insurance coverage.

Healthcare startups are utilizing telehealth technologies to boost patient engagement and cut costs. Some firms are even utilizing AI to enhance how physicians and nurses deliver care.

Lyra Health, a global workforce mental health service, raised $900 million in funding to make treatment more accessible and tailored for each individual. By using validated clinical measures such as the PHQ-9 and GAD-7 to measure symptom improvement, they ensure patients get the assistance they need.

Another telehealth company is NuroKor, which specializes in bioelectronic medicine for pain relief. Their products can be used to address conditions such as arthritis and chronic back pain.

Other telehealth startups include Well Brain Inc. (Pleasant Hill, CA), which creates mission-driven digital health platforms to help patients manage pain through meditation, behavioral health, virtual physical therapy and patient assessments. Their platform enables users to track their progress as well as use tools for stress and anxiety management.

GE Healthcare's e-rostering and e-learning solutions are utilized by 65 NHS Trusts, including the largest flexible staff bank. The e-rostering system helps protect junior doctors from working excessive hours while the e-learning tool ensures staff training remains up to date and compliant. These improvements have enhanced efficiency and safety within the medical industry.

The Company’s Business Model

In 2018, cofounders Amy Fan and Bruno Van Tuykom founded Twentyeight Health, a telemedicine company that provides affordable access to contraceptive services for women living in underserved communities. Through its service - available in New York and six other states - customers can consult with a physician online, order over 100 FDA-approved brands of birth control pills, patches, rings, shots and emergency contraception and receive their medications within 1-3 days.

Signing up for the service requires patients to fill out a medical questionnaire that is reviewed by an US board-certified doctor. Through its network of over 100 FDA-approved birth control products, customers have access to over 100 medications at no additional cost; additional medications can also be ordered at discounted prices.

The company provides ongoing care through unlimited doctor follow up messages to discuss changes to prescriptions or side effects. Furthermore, Bedsider's Contraceptive Access Fund provides free birth control to women who are uninsured and cannot pay out of pocket through its partnership with Bedsider's Contraceptive Access Fund.

Though the Affordable Care Act ensures all Americans have access to affordable birth control, many women still face barriers in obtaining this essential healthcare. Brooklyn-based Twentyeight Health is working to address this problem.

According to the company, it's currently available in Florida, Maryland, New Jersey, North Carolina and Pennsylvania with plans to expand nationwide. Not only does it provide low-cost options but also accepts Medicaid and commercial insurance plans.

It also offers a free trial period, so patients can try the service before making a purchase. Customers have three types of birth control available -- pill, patch and ring -- along with their desired budget.

The company provides free delivery for customers with coverage through an employer. Those without coverage can take advantage of discounts with a discount code.

Manik Bhat, founder and CEO of Healthify, stated that as the company continues to expand, it plans to integrate with other healthcare organizations such as health plans and providers. This collaboration will allow them to expand their reach and impact by making access to birth control more accessible for women who might otherwise go uninsured or underserved.

The Company’s Investors

Twentyeight Health has attracted an impressive array of investors, from major tech and healthcare firms to smaller seed-level startups. In total, the company has raised in excess of $83 million in funding.

The funds will be utilized to assist the company maintain its growth trajectory by expanding its team and creating new products. They are also dedicated to building and improving its technology platform as well as supporting operational needs.

Fund investment strategy to focus on women's health Candace Richardson, Vice President at Town Hall Ventures and board observer role at Twentyeight Health and other startups she has invested in, notes that company's team is dedicated to providing care to underserved populations.

Fan, a former Bain consultant and cofounder of the company, had an idea for creating a digital health service that could give low-income women affordable reproductive healthcare. Together with her team, they've developed a telehealth platform that allows patients in 20 states to consult with licensed physicians online and access FDA-approved contraception and prescription delivery options.

Another crucial part of her strategy is to foster an ecosystem that promotes women's reproductive health, which is especially critical given the current state of healthcare. Twentyeight Health plans on expanding its presence in America by strengthening its team, expanding their offerings and developing a distribution network of doctors, clinics and pharmacies.

Additionally, she's working to form partnerships with healthcare organizations and insurers who will cover the company's telehealth services. These collaborations will enable the business to expand across America and reach more low-income women.

The startup's new funding will enable it to further develop clinical trials and commercialization projects, enhance business operations and expand its customer base. Furthermore, the venture will further develop artificial intelligence and customer engagement tools.

uMotif's AI-driven clinical trials software is designed to empower patients in their own clinical trials and promote a decentralized model. With these funds, the startup will further develop its product and expand its customer base, while targeting additional study types and high demand territories.

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