Caraway seedsa virtual care startup focused on providing mental, physical and reproductive healthcare to Generation Z, has secured $16.75 million in Series A funding led by Maveron and GV.
In addition to Wellington Access Ventures, Ingeborg Investments and The Venture Collective, the existing investors 7wireVentures and Hopelab Ventures also participated in the round.
OMERS Ventures was a seed stage investor and will remain on the board of Caraway.
WHAT THEY DO
The New York-based startup provides college-age women and others who were assigned a female at birth with a care team comprised of reproductive care, mental health and physical health professionals. Patients can access medical care through the company’s app, such as chatting with a doctor or nurse, connecting with a therapist via chat and virtual appointments, receiving personal care recommendations, and ordering home tests for sexually transmitted diseases.
The company offers virtual care services in California, New York, North Carolina and Ohio and announced its expansion into Illinois, Massachusetts, Colorado, Michigan, Pennsylvania and New Jersey.
Caraway will use the funds to expand its platform and scale its services.
“What a Lori [Evans Bernstein, Caraway cofounder and CEO] and the entire Caraway team is compelling to have accomplished something in such a short amount of time,” said Alyssa Jaffee, partner at 7wireVentures, in a statement. “More than ever, the focus is once again on promoting and supporting women’s basic health rights.” critical. Caraway is already making a real difference in young women’s health, the AFAB, providing personalized care for all. With this new round of funding and the addition of strong like-minded investors, Caraway will significantly expand its ability to serve more healthcare consumers across the country.”
MARKET SNAPSHOT
Last year, Caraway seeds dotted $10.5 million in seed capital to launch its virtual care offering.
Other digital health companies focused on students include: Mantra Health, which offers a behavioral health tool with teletherapy for individuals with bipolar disorder. Mantra is able to integrate with university health services to create a collaborative model. In 2022, the company raised $22 million in Series A funding.
Boston-based company Uwill works with colleges to provide students with on-demand virtual access to licensed therapists and providers trained in crisis counseling. Students can participate in online wellness events through the company’s mental health and wellness app. In May, the company closed a $30 million Series A funding round led by Education Growth Partners.
