Wednesday February 3, 2021 0 comments
DENVER -- Plume, the first and largest health tech company built for the transgender community, today announced a $14 million Series A funding round led by Craft Ventures with participation from General Catalyst, Slow Ventures and Town Hall Ventures.
Demand for Plume's services, which are focused on radically increasing access to gender-affirming care, medication and products for the trans community, is growing rapidly, the company said.
Claiming to be the world's leading digital gender-affirming care service, Plume said it will use the funds to scale growth nationally, invest in top-tier talent specialized in trans health, and expand reach in new markets, making gender-affirming care available to every trans person who needs it.
"The trans community has long been denied the healthcare it deserves and Plume is changing that,” said Dr. Matthew Wetschler, Plume co-founder and CEO.
“Our telehealth model allows us to scale quickly in new markets and provide expert care at an affordable price for our members, Our platform is designed to make the journey for those seeking gender-affirming care a seamless and joyous one.
“Our goal is to transform health care for every trans life."
Since its launch in December 2019, Plume said it has fundamentally changed how trans folks seek and receive gender-affirming care.
Guided by a top-notch team of trans and allied executives and clinicians, Plume said it provides safe, expert, and quality gender-affirming care through the convenience of a smartphone.
Plume clinicians can uniquely tailor plans to achieve member's individual goals and provide resources, guidance, and support along the way. Few medical services engage as deeply with people's self-expression, identity, and well-being as gender-affirming care for the trans community, Plume said.
Co-founded by Wetschler and Dr. Jerrica Kirkley, Plume chief medical officer, Plume said it leads the trans digital health category in the U.S.
With Plume, no insurance is necessary. Members pay $99 a month and receive 24/7 access to gender-affirming care, personal consultations, lab monitoring, letters of support, and home delivery of their hormone medications.
"Access to gender-affirming care can be lifesaving for those who need it," said Lainy Painter, principal at Craft Ventures. "While a small number of clinics have focused on the trans community, the vast majority of patients have been unable to access affordable care.
“Plume has built a team of providers, care coordinators, and clinical managers that are trans specialists and allies to their patients: they are making possible what has until now been a distant promise of the future. We are excited to partner with this excellent, purpose-driven team."
The trans community makes up more than two million Americans. Over 30% of trans people delay health care for fear of discrimination and up to 50% of trans people in urban areas buy medications off the street.
Plume said it eliminates these barriers by making gender-affirming care accessible for anyone who needs it without ever having to step into a doctor's office.