Company will launch telemedicine and contraception prescription delivery services in new states, and offer additional products for sexual health
NEW YORK, October 14, 2020 — Twentyeight Health, a health tech company offering affordable access and convenience for women’s sexual and reproductive healthcare, today announced that it has closed $5.1M in seed funding. Third Prime led the round, with participation from Town Hall Ventures, SteelSky Ventures, Aglaé Ventures, GingerBread Capital, Rucker Park Capital, Predictive VC, AVG and strategic angels including Stu Libby, Zoe Barry and Wan Li Zhu. The seed round brings Twentyeight Health’s total funding to $6.6M.
“Women who are on Medicaid, who are underinsured or without health insurance often struggle to find access to reproductive health services, and these struggles have only increased with COVID-19 pandemic limiting access to in-person appointments,” said Amy Fan, co-founder of Twentyeight Health. “We are fighting for healthcare equity, ensuring that all women, particularly BIPOC women and women from low-income backgrounds, can access high quality, dignified and convenient care.”
Twentyeight Health is currently available across six states — Florida, Maryland, New York, New Jersey, North Carolina, and Pennsylvania — and is the first and only telecontraception company to accept Medicaid in these states. Twentyeight Health is also working to provide free birth control for women who are not able to pay out of pocket and are uninsured, through a partnership with Bedsider’s Contraceptive Access Fund. The company donates 2% of revenues to Bedsider, and the National Institute for Reproductive Health.
“Today, low-income women are three times more likely to have an unintended pregnancy than the average woman in the U.S., and nearly one-third of physicians nationwide aren’t accepting new Medicaid patients,” said Bruno Van Tuykom, co-founder of Twentyeight Health. “This underscores why offering high-quality reproductive care that is inclusive of people across race, income bracket, or health insurance status is more important than ever.”
To sign up for Twentyeight Health, new customers fill out a medical questionnaire online, which a U.S. board-certified doctor reviews within 24 hours. Online audio consultations are also available at no extra charge. Customers can access over 100 FDA-approved brands of birth control pills, patch, ring, shot and emergency contraception, and receive shipment within 1-3 business days. Twentyeight Health provides ongoing care through unlimited doctor follow up messages to discuss issues such as updating prescriptions or addressing side effects.
“At a time when people are facing unprecedented economic and healthcare challenges, Twentyeight Health is building a business that has the potential to empower millions of people to live healthier lives,” said Wes Barton, managing partner at Third Prime. “What impresses me most about Twentyeight Health is not just the incredible amount of growth the team has achieved since its founding less than two years ago, but the team’s commitment to creating a means for all women in this country to have real and equitable access to sexual and reproductive care.”
Twentyeight Health launched in late 2018, and its customer base has grown 5x in 2020. The company will use its funding to expand across the country, and provide access to additional medications and services for women’s sexual and reproductive health over the next year.
To learn more about Twentyeight Health, visit www.twentyeighthealth.com.
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About Twentyeight Health
Twentyeight Health empowers individuals with trusted information, affordable access and convenience for their reproductive and sexual health. To learn more, visit www.twentyeighthealth.com.
About Third Prime
Third Prime is a venture capital firm investing in companies using technology to improve access to health and wealth for underserved segments of our population. Third Prime partners with early-stage companies displaying an unwavering commitment to integrity and a determination to meet the needs of all stakeholders. Founded in 2016, we have had the pleasure of supporting exceptional entrepreneurs at mission-driven companies including Latch, Octane, Petal, Spruce, NewtonX, and Zipdrug. Third Prime is based in New York, NY and Nashville, TN. For more information, please visit www.thirdprime.vc or follow Third Prime on LinkedIn or Twitter @ThirdPrimeVC.
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