- Denver-based startup Plume uses telehealth to help transgender patients access gender-affirming hormone therapy. Photo credit: Plume
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Plume, a digital health platform for transgender patients, raised $14 million. The Denver-based startup offers patients access to telehealth consultations and gender-affirming care, including home delivery of hormone medications.
The company was founded in 2019 by two physicians, Dr. Matthew Wetschler and Dr. Jerrica Kirkley, who sought to make it easier for people to access care. Since then, it has quickly expanded to 28 states, and was recently added as a covered benefit by the Trevor Project, a nonprofit that offers mental health services for LGBTQ youth. Currently, Plume does not take insurance, but instead charges a $99 per month membership fee, which includes the cost of care and lab monitoring.
“Ultimately our vision is to transform healthcare for every trans life, and ensure every person has immediate access to gender-affirming hormone therapy through a smartphone,” Wetschler said in an interview with MedCity News.
With the new funds, the startup plans to build out its team and expand into additional states. He also hopes to provide a broader range of services, from medical care to emotional support.
Plume also created an HRT Access Fund in collaboration with nonprofits YouAreEssential, For The Gworls and Point of Pride. To start, they raised $50,000 to give 23 recipients a free year of care from Plume, with the specific goal of advancing Black trans equity.
“The fact that we’re able to do that is really, really important and core to Plume’s values,” said Anuva Kalawar, Plume’s director of community. “There are lots of barriers to care for trans folks in terms of getting access to gender affirming doctors, period. During the pandemic, it’s made access a lot more difficult.”
As Plume’s team continues to grow, most of its staff and clinicians are members of the LGBTQ community.
“When you make the appointment on the phone, you’re like wow, my doctor’s trans, that’s amazing. My doctor’s queer, that’s amazing,” they said in a Zoom interview. “They know what it means to be safe and seen for all of the identities that they hold.”
Craft Ventures led Plume’s series A round, joined by Town Hall Ventures. General Catalyst and Slow Ventures, who led a seed funding round in the company last year, also participated.
Wetschler said the funding was “an important signal for the market,” adding that it showed a willingness to invest in communities that have historically been overlooked by investors.
Another direct-to-consumer health startup, Folx, also closed a recent series A round. While Folx also offers delivery of hormone medications, the company has said it is building out a platform for LGBTQ patients, while Plume’s is tailored to the transgender community.
“Ultimately this is about transforming healthcare for every trans life,” he said. “We stand on the shoulders of giants and are humbled to participate, and increase access for this very important treatment.”
