Canadian digital healthcare company Felix has secured an investment of C$18m ($13.3m) in its Series B funding round.
The company currently offers on-demand treatment for weight loss, erectile dysfunction, HIV prevention, hair loss, birth control and acne, among other categories.
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Felix intends to use the proceeds to grow its client base by rolling out new categories of care in addition to new therapeutic services.
The company uses its online network to set up text, audio, and video calls between patients and healthcare professionals.
It also delivers prescribed treatments to patients’ homes.
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Since its initial release three years ago, Felix has accumulated over 540,000 registered users and has grown by more than 200% annually.
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By GlobalDataFelix co-founder and CEO Kyle Zien said: “This funding will accelerate our growth and further our mission of helping Canadians take control of their health and wellbeing.
“Through investments in our technology, our operations, and our team, Felix will continue to expand its service by launching new and more comprehensive categories of care in 2023.”
Felix’s latest funding round was led by BDC Capital through its Women in Technology Venture Fund.
It was also joined by Canadian Business Growth Fund, Whitecap Venture Partners, and Mantella Venture Partners.
Felix COO and co-founder Emma Stern said: “Whether it’s for people who feel less comfortable with in-person appointments, or for those who have difficulty accessing them, providing a virtual avenue to care ultimately helps reduce barriers.
“It not only suits our patients’ needs but can benefit the broader system. Every prescription written and delivered by Felix is an appointment at a walk-in clinic or family doctor that someone requiring in-person care is able to access sooner.”
