Fundraising Fox

Folx

Boston, US · Founded 2019 · Delaware corporation · 65 employees on LinkedIn · 10 known investors

Find your way into Folx

248 people in our graph share verified history with the Folx team — schools, employers, funds. One of them is your warm intro.

Dougunlockedknows A.G. Breitenstein · together at Yale University (overlapped)
×4knows the team · via Yale University
×2knows the team · via Laudio
×2knows the team · via Harvard T.H. Chan School of Public Health
knows the team · via Define Ventures
knows the team · via Vim

FOLX is a digital healthcare platform designed for LGBTQIA+ adults, providing inclusive and affirming medical care. The platform addresses gaps in mainstream healthcare for LGBTQIA+ communities by delivering accessible services through a digital-first model.

Also known as FOLX · FOLX Health

Founders & leadership

Folx was founded in 2019 by A.G. Breitenstein.

ABA.G. Breitenstein
A.G. Breitensteinin𝕏FounderHealthcare Advisor at Define Ventures
LBLena Ballantine
Lena BallantineinChief Financial Officer2021–2023
LM
Liana M Guzman WeisExecutive

Board

LCLynne Chou O'Keefe
Lynne Chou O'KeefeinBoard directorFounder and Managing Partner at Define Ventures
MC
Morgan CheathaminBoard directorPartner and Head of Healthcare and Life Sciences at Breyer Capital
LSLee Shapiro
Lee ShapiroinBoard MemberPartner at 7wire Ventures

Investors · 10

Also in the syndicate · 1

7wireVentureslead

Reported raises · per SEC filings

Form D private placements

$59.3M disclosed across 3 rounds · 2020–2022

$30MraisedOct 2022 · 8 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Lynne Chou O'KeefeDirector
  • Lena BallantineExecutive Officer
  • Liana M Guzman WeisExecutive Officer, Director
  • Morgan CheathamDirector
  • Lee ShapiroDirector
  • A.G. BreitensteinExecutive Officer, Director
Offering amount
$30M
Amount sold
$30M
First sale
Oct 2022
Incorporated
Corporation, Delaware, 2019
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$25MraisedFeb 2021 · 6 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Morgan CheathamDirector
  • Lynne Chou-O'KeefeDirector
  • A.G. BreitensteinExecutive Officer, Director
Offering amount
$25M
Amount sold
$25M
First sale
Jan 2021
Incorporated
Corporation, Delaware, 2019
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$4.3MraisedMay 2020 · 7 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Agneta BreitensteinExecutive Officer, Director
  • Lynne Chou-O'KeefeDirector
Offering amount
$4.3M
Amount sold
$4.3M
Minimum investment
$50K
First sale
Apr 2020
Incorporated
Corporation, Delaware, 2019
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

FOLX Health is a US virtual healthcare service provider built specifically for the medical needs of LGBTQIA+ adults. It offers telehealth visits with clinicians who specialize in LGBTQIA+ care across primary care, gender-affirming hormone replacement therapy (transfeminine, transmasculine, nonbinary and menopause-related HRT), mental health care and medication management, therapy in selected states, sexual and reproductive health (including birth control, infection treatment and PrEP), and fertility and family building. Care is delivered through a membership that includes clinician visits, secure messaging with a care team, medication management with shipment via a partner pharmacy or a pharmacy of the member's choice, lab ordering, member navigators, and referrals through a national specialist network.

Alongside clinical services, FOLX operates a community platform providing events, educational resources, peer-led support groups, forums and chat, plus expert-led support groups and letter-writing services for name changes. Editorial resources are published through the company's blog and Library. Mental health visits and medication management are offered in all fifty states via primary care services, while therapy is available in a subset of states.

The company launched in December 2020 as a venture-backed queer and trans virtual care provider focused initially on the trans population, and expanded in 2022 to serve the broader LGBTQ+ community. In addition to its consumer offering, FOLX rolled out an enterprise solution for self-insured employers in 2022 and established the FOLX HRT Care Fund in January 2021, which redistributes contributions from allies and community members to help trans, nonbinary and intersex people access HRT through FOLX.

Founding story

FOLX was founded by entrepreneur and queer health advocate A.G. Breitenstein, with support from LGBTQIA+ leaders and clinicians, to address the marginalization and mistreatment of LGBTQIA+ people in mainstream healthcare by building a digital healthcare platform designed specifically for that community. The service launched publicly in December 2020.

Business model

FOLX sells a direct-to-consumer membership subscription that bundles access to clinicians, care-team messaging, care navigation, referrals and the community platform, with clinical services such as visits, labs and medications billed separately. Select insurance plans cover the membership fee, and insurance may be applied to visits, medications and labs; uninsured or out-of-network members pay published cash rates and can request a superbill for reimbursement. The company also sells a direct-to-employer offering to self-insured employers covering their employee populations.

Recurring membership fees of $29 per month when paid annually or $43.99 per month when paid monthly, following a 10-day $0 introductory period, plus fee-for-service charges: $159 for an initial clinician visit, $79 for follow-ups and $139 for therapy visits without insurance, or copays with in-network insurance; medications and labs are billed at variable cost with discounted rates through the FOLX pharmacy and Quest. Enterprise contracts with self-insured employers provide an additional revenue line.

Traction

The company reported that 78% of members lacked access to affirming healthcare before joining FOLX and 71% had avoided seeking care for fear of discrimination. Press coverage described rapid scaling since inception, expansion from a trans-focused service to the broader LGBTQ+ community, launch of a virtual healthcare platform serving nearly all 50 states, and a goal of operating in all 50 states by the first quarter of 2023.

Latest developments

Following the October 2022 Series B, the company said it would scale its enterprise offering, expand mental and behavioral health products including expert-led multi-week support groups starting with fertility and family planning, launch iOS and Android apps for real-time behavioral health support, and pursue one-on-one therapy. Current offerings include primary care, gender-affirming care, mental health care, therapy in select states, sexual and reproductive health, and fertility and family building, with published Library content dated through November 2025.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

FOLX describes itself as the first digital healthcare service provider designed by and for the LGBTQIA+ community and was characterized in press coverage as the first major queer and trans venture-backed company offering virtual primary care, sexual health and HRT prescriptions. It is backed by healthcare-focused investors including 7wireVentures, Foresite Capital, Bessemer Venture Partners, Define Ventures and Polaris Partners.

The company positions its clinician network and staffing as community-based: 81% of clinicians identify as LGBTQIA+, over one in three identify as transgender, nonbinary, genderqueer, gender diverse or two-spirit, nearly four in five as bisexual, gay, lesbian, pansexual or queer, and the executive team is described as entirely LGBTQIA+. Other stated differentiators versus in-person providers include appointments within days, an ongoing membership relationship rather than one-off visits, transparent pricing with or without insurance, discreet medication shipping, care navigation support and an integrated community platform.

Technology

Telehealth delivery through a secure member portal supporting virtual visits, asynchronous messaging with clinicians and care teams, online booking, prescription and refill management with pharmacy fulfillment and lab ordering. The company announced companion iOS and Android applications for real-time emotional and behavioral health support, plus an online community platform hosting support groups, forums, chat, courses and events.

Go-to-market

Direct-to-consumer online sign-up with a free trial period, transparent published pricing and insurance acceptance, supported by content marketing through the company blog and Library, a newsletter, member testimonials and community programming; a parallel enterprise channel sells to self-insured employers, with satisfied members referring their employers.

LGBTQIA+ adults across the United States, including transgender, nonbinary and intersex people seeking gender-affirming hormone therapy, as well as members seeking primary, mental, sexual and reproductive health care; on the enterprise side, self-insured employers purchasing inclusive benefits for their employees.

Geography

United States nationwide, headquartered in Boston. Membership and clinician care are offered to adults across the country, mental health visits and medication management are available in all fifty states, and therapy is offered in select states with further expansion stated as planned.

History

FOLX launched in December 2020 as a virtual care provider initially focused on the trans population, offering primary care, sexual health and hormone replacement therapy prescriptions. In January 2021 it established the FOLX HRT Care Fund to help trans, nonbinary and intersex people afford HRT. During 2022 it expanded to serve the wider LGBTQ+ community, released a virtual healthcare platform reaching nearly all 50 states, launched peer support groups for the trans community in the summer and introduced an enterprise offering for employers. In October 2022 it raised a $30 million Series B led by 7wireVentures and added Lee Shapiro to its board, followed by the launch of expert-led support groups and companion mobile apps for behavioral health.

Risks & controversies

Member testimonials reference difficulty accessing hormone replacement therapy in certain states, and the company's stated rationale centers on discrimination and avoidance of care in mainstream healthcare settings. Therapy availability remains limited to select states, and insurance coverage of membership fees applies only to select plans.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Clinicians identifying as LGBTQIA+Jan 202581%
Follow-up visit price without insuranceJan 2025$79
HeadcountAug 202665
Initial clinician visit price without insuranceJan 2025$159
Members who actively avoided seeking care for fear of discriminationOct 202271%
Members without access to affirming healthcare prior to FOLXOct 202278%
Membership price (annual billing)Jan 2025$29
Membership price (monthly billing)Jan 2025$43.99
States where mental health visits and medication management are availableJan 202550 states
Therapy visit price without insuranceJan 2025$139

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 4

by search overlap

Companies competing with Folx for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 7

launches, deals, and filings
Oct 2022
FOLX Health raises $30M Series B led by 7wireVentures

FOLX Health announced $30 million in new financing led by 7wireVentures with participation from new investor Foresite Capital and existing investors Bessemer Venture Partners, Define Ventures and Polaris Partners, to scale its platform, enterprise offering and mental/behavioral health products.

$30M source ↗

Oct 2022
Lee Shapiro joins board of directors

Lee Shapiro, managing partner of 7wireVentures and former CFO of Livongo Health, joined FOLX Health's board of directors in connection with the Series B round.

source ↗

Oct 2022
Expert-led support groups and mobile apps announced

FOLX announced multi-week expert-led support group sessions beginning with fertility and family planning, and companion iOS and Android apps for real-time emotional and behavioral health support.

source ↗

Jan 2022
Expansion from trans-focused service to broader LGBTQ+ community

Initially focused on serving the trans population, FOLX expanded in 2022 to serve the LGBTQ+ community at large with its virtual healthcare platform, offering virtual primary care and gender-affirming care.

source ↗

Jan 2022
Enterprise offering for employers launched

FOLX rolled out a direct-to-employer solution for self-insured employers in the summer of 2022, alongside peer support groups aimed at the trans community.

source ↗

Jan 2021
FOLX HRT Care Fund established

The company established a fund that redistributes financial resources from allies inside and outside the LGBTQIA+ community to help trans, nonbinary and intersex people access hormone replacement therapy through FOLX.

source ↗

Dec 2020
FOLX Health launches virtual LGBTQIA+ care service

FOLX launched in December 2020 offering virtual primary care, sexual health and prescriptions for hormone replacement therapy through queer and trans-specialized providers.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
FolxDelaware

In the news

Research sources · 8

primary sources listed
  • Folxfolxhealth.com · web

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Folx do?
FOLX Health is a virtual healthcare provider offering LGBTQIA+-dedicated primary, gender-affirming and mental health care by subscription.
Who founded Folx?
Folx was founded by A.G. Breitenstein in 2019.
Who are Folx's investors?
Folx's investors include 7wire Ventures, Bessemer Venture Partners, Corewell Health Ventures, Define Ventures, Habitat Partners, Seae Ventures, Breyer Capital, Foresite Capital and 1 more.
How much funding has Folx raised?
Folx has disclosed $59.3M raised across 3 rounds.
Where is Folx headquartered?
Folx is headquartered in Boston, US.