Caraway raises $16.75 million to expand virtual care platform for Gen Z – News Block

Carawaya virtual care startup focused on providing mental, physical and reproductive healthcare for Generation Z, has secured $16.75 million in Series A funding led by Maveron and GV.

Existing investors 7wireVentures and Hopelab Ventures also participated in the round along with Wellington Access Ventures, Ingeborg Investments and The Venture Collective.

OMERS Ventures was an early-stage investor and will remain on Caraway’s board of directors.

WHAT THEY DO

The New York-based startup offers college-age women and others assigned female at birth a care team comprised of reproductive health, mental health, and physical health professionals. Patients can access care through the company’s app, such as chatting with a doctor or nurse practitioner, connecting with a therapist via chat and virtual appointments, getting referrals for in-person care, and requesting STI testing In the home.

The company offers virtual care services in California, New York, North Carolina and Ohio and announced its expansion to Illinois, Massachusetts, Colorado, Michigan, Pennsylvania and New Jersey.

Caraway will use the funds to expand its platform and scale its services.

“What Lori (Evans Bernstein, Caraway co-founder and CEO) and the entire Caraway team have accomplished in such a short time is compelling,” Alyssa Jaffee, a partner at 7wireVentures, said in a statement. “Now more than ever, a renewed focus on promoting and supporting women’s fundamental health care rights is critical. Caraway is already making a real difference in the health of young women, AFABs, and by providing care personalized 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 I note $10.5 million in seed funding to launch its virtual care offering.

Other digital health companies focused on college students include Mantra Health, which offers a teletherapy behavioral health tool for people with bipolar disorder. Mantra can be integrated with University Health Services to create a collaborative model. In 2022, the company raised $22 million in Series A funding.

Boston based company Uwill partners with universities to provide students with virtual on-demand access to licensed therapists and providers trained in crisis counseling. Students can attend wellness events online through the company’s mental health and wellness app. It completed a $30 million Series A funding round led by Education Growth Partners in May.