Felix Raises $18M CDN to Scale On-Demand Treatment for Everyday Health [BusinessWire]
TORONTO–(BUSINESS WIRE)–Today, Felix, Canada’s leading provider of on-demand treatment for everyday health, announces it has completed its Series B funding round, worth CDN $18 million. This funding enables Felix to radically expand the amount of patients it serves by launching new, more complex categories of care in addition to new therapeutic services.
Launched in 2019, Felix provides on-demand treatment for erectile dysfunction, weight loss, hair loss, HIV prevention, acne, and birth control, among other categories.
Through its digital platform, Felix connects Canadians with a healthcare practitioner via text, audio, and video calls — whenever and wherever is convenient for the patient — and delivers treatments discreetly to their door. Patients can then check back in with their healthcare practitioner at any time.
With 20 per cent of Canadians waiting seven days or more to see a family doctor, and five million Canadians without a family doctor, Felix is experiencing rapid expansion. In the three years since launching, Felix has over 540,000 registered users and has experienced over 200 per cent year-over-year growth.
“Canadians love Felix because we deliver care that is accessible and convenient. From a busy parent with no time to get to a pharmacy in person to a young adult in a rural community with no family doctor, we’re providing an option that helps patients get treatment on their terms,” said Kyle Zien, co-founder and CEO of Felix.
“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 also helps demystify and destigmatize care for those daunted by seeking a particular treatment for the first time — 40 per cent of Felix patients are people seeking an initial prescription for their health concern.
“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,” says Emma Stern, co-founder and COO of Felix.
“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.”
The investment round is led by BDC Capital through its Women in Technology Venture Fund with additional contributions from Canadian Business Growth Fund (CBGF), Whitecap Venture Partners, and Mantella Venture Partners.
To learn more, visit www.felixforyou.ca
Felix is Canada’s first end-to-end platform providing on-demand treatment for everyday health. Felix creates digital-first solutions that increase access for common healthcare needs such as mental health, sexual health, and daily health. Founded in 2019, Felix’s approach to healthcare encompasses assessments, lab testing, prescriptions, fast and discreet delivery, and ongoing care — all online at www.felixforyou.ca.