Toronto-based direct-to-consumer digital healthcare startup Felix has secured C$10 million in a Series A financing. Whitecap Venture Partners led the round with participation from existing investors Mantella Venture Partners, BrandProject and H Ventures. Whitecap’s Russell Samuels will join the board.
TORONTO, Feb. 16, 2021 /CNW/ – Felix, a Canadian digital health startup, today announced the closing of its $10 million Series A financing round led by new investor Whitecap Venture Partners, with participation from existing investors Mantella Venture Partners, BrandProject and US based H Ventures. Russell Samuels, Partner at Whitecap Venture Partners, will join the Felix board of directors.
“Healthcare innovation was already happening in Canada, but the last 11 months have been a major accelerant. Launching pre-pandemic and being a first mover in the space has put Felix in a strong position to thrive in a rapidly changing environment. We’re proud to partner with the team at Felix,” said Russell Samuels, Partner at Whitecap Venture Partners.
Founded in January 2019, Felix is a direct-to-consumer digital healthcare platform, best known for providing online access and free delivery for birth control and erectile dysfunction treatments. Felix also offers online doctor consultations and seamless medication delivery for acne, cold sores, hair loss, genital herpes, allergies and emergency contraception.
Felix will continue to focus its service in areas of health that people may find sensitive, stigmatized or inaccessible to ultimately become a digital front door that complements and enhances the Canadian healthcare experience.
The new round of funding, which follows a Seed round of $2.5M in November 2019, will help support Felix’s expansion to Quebec and the development of new care offerings for migraines, mental health, HIV prevention and more.
2020 was a year of rapid growth for the company, which saw a surge in demand for its online health services amid the COVID-19 pandemic, including an 8x increase in its customer base.
“We will continue our patient-centric mission to empower Canadians to take control of their health and wellbeing as we expand our offering and dive deeper into areas of healthcare people may find sensitive or inaccessible.” Felix co-founder and CEO Kyle Zien said.
Felix also plans to use the new funding to more than double its team in 2021 as it accelerates the development of innovative technology and delightful product experiences within its ecosystem of patients, doctors and pharmacies.
Founded in 2019, Felix is a patient-driven digital healthcare company empowering people to take control of their health and wellbeing. We’re passionate about building technology and beautiful product experiences to make healthcare more accessible (and maybe even more enjoyable) for all Canadians. Felix is one of Canada’s leading end-to-end healthcare platforms, providing online diagnoses, prescription delivery, and ongoing care for birth control, erectile dysfunction, acne, hair loss, herpes and more. www.felixforyou.ca
About Whitecap Venture Partners
Whitecap Venture Partners is a Toronto based early stage venture capital fund investing in high growth companies across three verticals: Information and Communications Technology (ICT), MedTech and Food/FoodTech. Its team of operators and investment professionals partner with entrepreneurs in verticals where they have deep domain expertise and can bring significant operational and strategic value to companies. Additional information is available at www.whitecapvp.com.