Teal Health, a telemedicine startup that provides at-home cervical cancer screenings solutions and test kits for women, raised $8.8 million in Seed funding from Emerson Collective, Serena Ventures, Metrodora Ventures, and Felicis Ventures.
According to the press release, the new funds will enable Teal Health to expedite product development, clinical testing, and FDA approval, facilitating cervical cancer access to the 88 million women within recommended screening age.
Cervical cancers are preventable.
93% of cervical cancers are preventable if detected in the early stage.
Following the start of the COVID-19 pandemic, cervical cancer screening in the United States dropped by 94% and remained 35% below pre-pandemic levels even after stay-at-home restrictions were lifted. New research shows that late-stage cervical cancers are on the rise in American women. In contrast to more than 90% of cervical cancers being preventable when caught early, a late-stage diagnosis has an approximate 5-year survival rate of only 18%.
Commenting on the funding news, Kara Egan, Chief Executive Officer at Teal Health, said: “At Teal Health, we are working to increase access to this important screening by coupling at-home self-collection with a health-tech platform that ensures women are encouraged, supported, and understood in the process.”
Serena Ventures, the venture capital firm backed and founded in 2017 by Serena Williams, has invested more than $100 million in early-stage companies to date. The firm’s current digital health investment portfolio includes: Kiira Health, Hued, Every Mother, Quit Genius, Noom, and Mahmee.
Commenting on the funding news, Serena Williams, Managing Partner at Serena Ventures, said: “We’re excited to partner with Teal to increase equity and access to this life-saving screening by removing the barriers such as awareness, time, and fear; while also empowering women to reconnect and take control of their health.”
According to our funding database, telehealth companies providing virtual cancer care have raised close to $5 billion in funding to date. Recently, OncoHealth, a telehealth startup providing virtual cancer care, received strategic investments from Arsenal Capital Partners and McKesson. In another deal, Oshi Health, a provider of virtual care services for cancer and gastrointestinal diseases, raised $23 million in Series A funding co-led by Flare Capital Partners, Bessemer Venture Partners, and Frist Cressey Ventures.
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