Felix – an end-to-end platform providing on-demand treatment for everyday health – announced that it has raised C$18 million in funding. This funding round enables Felix to radically expand the number of patients it serves by launching new, more complex categories of care in addition to new therapeutic services.
Founded in 2019, Felix specifically offers on-demand treatment for erectile dysfunction, weight loss, hair loss, HIV prevention, acne, and birth control, among other categories. And through its digital platform, Felix connects Canadians with healthcare practitioners via text, audio, and video calls and delivers treatments discreetly to their door. Patients can then check back in with their healthcare practitioner at any time.
As 20% of Canadians have to wait 7 days or more to see a family doctor and 5 million Canadians without a family doctor, Felix is experiencing rapid expansion. In the 3 years since launching, Felix has over 540,000 registered users and has experienced over 200% year-over-year growth.
Felix helps demystify and de-stigmatize care for those who are apprehensive about seeking a particular treatment for the first time — 40% of Felix patients are people seeking an initial prescription for their health concern.
This 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.
KEY QUOTES:
“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.”
“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.”
— Kyle Zien, co-founder and CEO of Felix
“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.”
— Emma Stern, co-founder and COO of Felix
