Twentyeight Health, a digital-first women’s health care provider, picked up $10 million in series A funding and inked new payer partnerships with Medicaid insurers Aetna, AmeriHealth Caritas and Molina Healthcare.
The startup, launched in 2018, offers affordable sexual and reproductive services in 43 states and says it's one of the only digital women's health providers to accept Medicaid at scale.
The series A round was led by Seae Ventures and brings the company’s total funding to $25 million. Impact America Fund, The Social Entrepreneurs' Fund, RH Capital, Impact Engine, Gratitude Railroad and Townhall Ventures also participated in the series A found.
The startup raised $8.3 million in pre-series A funding in 2023.
Seae Ventures is an investment firm specializes in early-stage healthcare technology and services companies founded by diverse entrepreneurs including women and those who identify as Black, Indigenous or people of color.
Twentyhealth Health offers telemedicine consultations to address sexual and reproductive health needs spanning birth control, abortion pills, the morning-after pill, herpes treatments, pregnancy tests and prenatal vitamins and provides at-home deliveries for products and medications.
More than 19 million American women of reproductive age are living in contraceptive deserts, according to data from reproductive rights nonprofit organization Power to Decide. After the November presidential election, Twentyeight Health saw a 52% increase in new user conversion, the company said. Twentyeight Health also saw a 10% increase in website traffic and a doubling in emergency contraception sales, which underscores the need for its services, executives said.
The startup plans to use the fresh funds to expand its reach, focusing on women in underserved communities.
“45% of American women seeking reproductive health services face significant challenges in accessing care, especially the 19 million living in contraceptive and maternity care deserts where options are few,” said Bruno Van Tuykom, CEO and co-founder of Twentyeight Health, in a statement. “Our new funding and payer partnerships will bridge this gap, helping women receive the essential care they need, regardless of as. At an inflection point for women’s health, we are prepared to meet the moment by continuing to invest in our user experience and expanding our reach nationwide to deliver a real solution to a growing problem.”
Twentyeight Health says it offers approachable reproductive and sexual health services by accepting "almost every commercial and Medicaid plan."
Half of Twentyeight Health’s users make less than $20,000 per year, making them reliant on services that accept Medicaid. With a strong network of payer partnerships, Twentyeight Health can often deliver care with a $0 copay and $0 prescriptions, company executives said.
Three in 5 Twentyeight Health users are considered underserved, 2 in 5 do not see a primary care provider outside of the platform and nearly 3 in 5 identify as people of color. Before joining Twentyeight Health, 65% of users did not have access to birth control.
The company offers comprehensive family planning, maternity and sexual health resources including access to multiple birth control options, abortion pills, the “morning after” pill, herpes treatments and pregnancy tests as well as condoms, menstrual pads and tampons and prenatal vitamins.
Twentyeight Health plans to roll out more products and services this year.
The startup says it surpassed 100,000 users in October 2024, bolstered by a partnership with Converge in Mississippi and patient asset acquisitions of SimpleHealth and a portion of The Pill Club.
“Raising $10 million in this economic climate is no small feat, reflecting both the resilience and relevance of Twentyeight Health’s mission," said Arianne Kidder, partner at Seae Ventures, in a statement. “With Medicaid spending $200 billion annually on women’s health for reproductive age women, we see real potential in the company’s platform and approach. But this isn’t just about the market opportunity; it’s about backing a company tackling an urgent problem in a smart, scalable, quality-driven way. As the team makes meaningful strides in increasing access to essential services, we’re confident Twentyeight Health will continue standing out as a leader in digital-first women’s healthcare.”