DG Daiwa Ventures is pleased to announce that Allara Health, a company that supports women’s health, has raised US$26 million in a Series B round of funding led by Index Ventures.
DGDV has been investing in Allara Health since the pre-Series A round, and shareholders include Index Ventures, the lead investor in this round, as well as GV (formerly Google Ventures), HOF Capital, the lead investor in the previous round, and Tom Lee, founder of One Medical. With this round of funding, Allara’s total funding has reached $38.5 million.
Allara Health operates a remote medical platform that provides ongoing care for women suffering from chronic illnesses caused by hormone imbalance through diagnosis at home or affiliated clinics, and treatment in collaboration with specialists and registered dietitians.
More than one in three women suffer from chronic diseases such as PCOS (polycystic ovary syndrome), endometriosis, and hypothyroidism, but 70% of patients with chronic diseases do not receive proper diagnosis and treatment. As a result, it is said that they develop infertility, high-risk pregnancies, obesity, diabetes, etc.
Also Read: Nippon Brace announced “MEDIX-R,” that promotes medical digital transformation
While many startups focus on fertility and menopause care, founder and CEO Rachel Blank founded Allara Health to target pre-pregnant women in their late 20s to early 30s based on her own experience being diagnosed with PCOS.
Allara Health strives to create a world where women can have easier access to specialized care by providing a comprehensive approach and personalized care team with a wide range of professionals, including obstetricians-gynecologists, nurses, endocrinologists and registered dietitians with a deep understanding of hormone and metabolic care, all virtually.
Allara Health initially launched as a subscription service paid by patients, but the effectiveness of its treatment has been recognized, and its revenue is expected to grow fourfold in 2024 compared to the previous year. In addition, insurance coverage is increasing through partnerships with major health insurance companies (including Aetna, Blue Cross Blue Shield, Cigna, Humana, and United Healthcare). In addition, through this funding, Allara Health has officially begun providing services in all 50 states.
DGDV will continue to support Allara Health’s business expansion in order to achieve its mission of “eliminating the healthcare inequities faced by women and creating a world where women have access to affordable, specialized care.”
SOURCE: PRTimes
