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Twentyeight Health Raises $8.3M for Reproductive Health Telemedicine Platform – AlleyWatch

A recent study published by the CUNY School of Public Health found that women of reproductive age strongly preferred telemedicine for their sexual and reproductive health in primary care. In addition to increased convenience and increased accessibility, telemedicine interactions have provided autonomy to address unmet needs, especially in rural areas and among those with transportation and childcare hurdles. . 28 Health We provide telemedicine services for reproductive and sexual health. The platform currently focuses on increasing access to birth control, prenatal vitamins, and sexually transmitted diseases. . Twentyeight Health issues insurance bills for payment and also offers reasonable out-of-pocket prices for contraception starting at $16 per month, including over 100 brands of different types of contraceptive options. . The company also donates 25% of the proceeds to nonprofits focused on making women’s health care more accessible and equitable.

alley watch I caught up with the co-founder of Twentyeight Health Bruno Van Tycom Learn more about the business, the company’s strategic plans, and the latest funding round, with the company’s total funding reaching $13.4 million.

Who are your investors and how much did you raise?

Twentyeight Health has raised $8.3 million. The round was wrapped up as a pre-series A and featured multiple mission-driven funds. RH Capital, Seae Ventures, Impact Engine, Acumen America, Stardust Equity, Gratitude Railroad, California Health Care Foundation, Penn Medicine-Wharton Fund for Health, Great Oaks Venture Capitaland strategic angel investors including: Andrei OstrovskyFormer Chief Medical Officer of the U.S. Medicaid Program, and Elina Onitsukanski, former senior vice president and head of strategy at Molina. Many of Twentyeight Health’s previous investors also participated in the round. SteelSky Ventures, Third Prime, Town Hall Ventures, GingerBread Capitaland Alger Ventures.

What products or services does Twentyeight Health offer?

Twentyeight Health is a telemedicine company that provides affordable access and convenience for reproductive and sexual health. Twentyeight Health’s telemedicine services currently include birth control, morning after pills, prenatal vitamins and herpes treatment.

What inspired you to start Twentyeight Health?

I was inspired by my work with the Gates Foundation to improve access to health care in low-income countries, especially with respect to family planning and HIV services. I understood how telemedicine and technology in general could help improve access to health. There was an urgent need to improve access to sexual and reproductive health care for women in the region. Today, a low-income woman is three times more likely to have an unwanted pregnancy than the average woman in the United States, and nearly a third of her doctors nationwide are not accepting new Medicaid patients. . These devastating statistics highlight why it is more important than ever to provide quality sexual and reproductive care to include people across races, income groups and health insurance status. increase.

How is Twentyeight Health different?

Telemedicine has great potential to improve health care for all, but data from both Rock Health and the American Journal of Preventive Medicine show that telemedicine in the United States is primarily used by wealthy Americans who live in urban areas. used by humans. Twentyeight Health is bucking this trend as the first virtual healthcare platform for women to support women in all walks of life.

It focuses on comprehensive care for medically underserved groups such as low-income and BIPOC communities.

Since its launch in December 2018, Twentyeight Health has taken a wide range of steps to increase access to basic health care for women in underserved communities. For example, Twentyeight Health leverages multiple telemedicine modes, including voice consultation and direct her message with a doctor, to provide privacy, discretion, and a seamless experience regardless of individual access to high-speed internet or residence status. provide. Twentyeight Health also provides free contraception to economically deprived and uninsured women through its partnership with Bedsider’s Contraceptive Access Fund, giving her 2% of proceeds to her Bedsider and the National Institute of Reproductive Health. donating.

What is Twentyeight Health’s target market and size?

Over 65% of Twentyeight Health’s users were low-income, 58% had BIPOC, and over 60% had never used prescribed contraception. Twentyeight Health Care Her services are tailored to meet the needs of women in underserved communities, but women of all backgrounds use her Twentyeight Health platform.

what is your business model?

Twentyeight Health compensates for the care services we provide directly from health insurance plans, directly from out-of-pocket patients, from charitable or non-profit partners who subsidize the cost of these services, or directly from users. receive.

How are you preparing for a potential economic slowdown?

An economic slowdown will disproportionately affect women in underserved communities. This highlights the importance of making it accessible to Medicaid recipients. Additionally, in every state where Twentyeight Health is available, we are actively pursuing more nonprofit partnerships to subsidize care costs for underinsured or uninsured women. I’m trying to find more ways to do it.

What was the fundraising process like?

As you can see, there are a number of incredible investors involved in this round, and they all have many ways they can help Twentyeight beyond capital. Along the way, I’ve been thrilled to meet so many people who have become investors who have also given me valuable advice on how to grow the company most effectively.

What was the biggest challenge you faced in raising capital?

The biggest challenge was the macroeconomic environment we faced when we raised this round in mid-2022. There have been many uncertainties in the VC world, including inflation, a looming recession, and continued interest rate hikes by the Fed. Still, we couldn’t be more excited about the incredible group of investors who have decided to back Twentyeight Health during this time.

What factors in your business are driving investors to write you checks?

We are honored to have such an amazing group of investors participating in this round. What they all have in common is our mission to improve access to quality sexual and reproductive care, and firmly supports how TwentyEight Health can be profitable. about it.

What milestones do you plan to achieve in the next six months?

Twentyeight Health has significantly expanded its geographic footprint over the last few years. We look forward to partnering with more payers and nonprofits over the next six months. These are all part of an effort to reach out to more women in underserved communities.

What advice can you give to New York companies that haven’t injected fresh capital into their banks?

Whether you invest new capital or not, you need to focus on building a sustainable business. Companies that haven’t injected new capital must find ways to achieve profitability faster, such as increasing prices, expanding into new product and service lines, and reaching more customers faster.

Where do you see the company going now in the near future?

Short-term and long-term, Twentyeight Health’s focus remains the same. This means improving access to quality sexual and reproductive care through telemedicine for women in underserved communities.

What is your favorite restaurant in the city?

Fradei Bistro in Fort Greene. Twentyeight Health Raises $8.3M for Reproductive Health Telemedicine Platform – AlleyWatch

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