Carawaya virtual care startup focused on providing mental, physical and reproductive health care to Gen Z, has secured $16.75 million in Series A funding led by Maveron and GV.
Existing investors 7wireVentures and Hopelab Ventures also participated in the round alongside Wellington Access Ventures, Ingeborg Investments and The Venture Collective.
OMERS Ventures was a seed investor and will remain on Caraway’s board.
WHAT THEYRE DOING
The New York-based startup offers college-age women and others assigned a woman at birth a care team of reproductive health, mental health, and physical health professionals. Patients can access care through the company’s app, such as chatting with a doctor or nurse practitioner, connecting with a therapist via chat and virtual appointments, getting referrals to in-person care, and ordering tests at home for STIs.
The company offers virtual care services in California, New York, North Carolina and Ohio and has announced expansion into Illinois, Massachusetts, Colorado, Michigan, Pennsylvania and New Jersey.
Caraway will use the funds to expand its platform and scale its services.
“What Lori and the entire team at Caraway have accomplished in such a short time is compelling,” 7wireVentures partner Alyssa Jaffee said in a statement. “Now more than ever, it is essential to refocus on promoting and supporting women’s basic health rights. Carvi is already making a real difference in the health of young women, those of AFAB, and by offering personalized care for all. With this new funding round and the addition of strong, like-minded investors, Caraway will significantly expand its ability to serve more healthcare consumers across the country.
MARKET OVERVIEW
Last year, the company scored $10.5 million in seed funding to launch its virtual care offering.
Other student-focused digital health companies include Mantra Health, which offers a behavioral health tool with teletherapy for people with bipolar disorder. Mantra is able to integrate with university health services to create a collaborative model. In 2022, the company raised $22 million in Series A funding.
Boston-based company Uwill partners with colleges to provide students with on-demand virtual access to licensed therapists and providers trained in crisis counseling. Students can attend wellness events online through the company’s mental health and wellness app. It completed a $30 million Series A funding round led by Education Growth Partners in May.