A year after launching, June Health has secured $2.4 million CAD as it looks to sell more businesses its employee benefits platform tailored to women.
**The news: **Toronto-based femtech startup June Health announced on Thursday that it closed $2.4 million in pre-seed financing from insurance provider Securian Canada, Montréal’s AgeTech Capital, the co-founders of Canadian healthtech unicorn PointClickCare, and the founder of software startup Financeit.
The startup, which offers an e-pharmacy and vetted supplement marketplace, will use the funding to invest in its AI and data infrastructure. It will also expand its partnerships with employers, who provide June’s platform to employees to access women’s health and wellness benefits.
From the source: “There are so many conditions and stages of care that come into the women’s health continuum,” co-founder and CEO Lori Casselman told BetaKit. “We want to be able to offer the most comprehensive, specialized, virtual health benefit for those organizations.”
Following the thread: According to a survey by Benchmark Benefits, 40 percent of Canadian women aren’t satisfied with their current benefits package. Casselman says a key part of June Health’s offering is “demystifying” coverage, as many women don’t understand what they’re covered for and under-utilize their benefits.
June Health is trying to bridge that disconnect. The 45-person team, including its clinical practitioners, has expanded the platform beyond its initial target market of meno care. It now includes a range of offerings for women: mental health support, fertility treatments, parenting coaching, weight management, and specific treatments for conditions like PCOS and endometriosis.
**Final thought: **The news comes amid a surge of interest among consumers for telemedicine options as healthcare systems across Canada are strained. Though the care offerings might be similar, in Casselman’s eyes, June Health is fundamentally different from consumer options like Felix Health because it was built with a B2B model in mind.
Feature image courtesy June Health.