Caraway, a digital healthcare firm focusing on Gen Z, has secured $16.75M in Series A funding. The round was led by Maveron and GV, with participation from 7wireVentures, Hopelab Ventures, Wellington Access Ventures, Ingeborg Investments, and The Venture Collective. OMERS Ventures, a seed stage investor in Caraway, will remain on the Board. The company came out or stealth in July 2022 after raising $10.5M in funding.
Furthering its expansion, the New York-based company is extending its virtual care services to six more states, bringing the total to ten states: Colorado, Pennsylvania, Illinois, Massachusetts, Michigan, New Jersey, California, New York, North Carolina, and Ohio. Caraway’s reach will extend to 44% of 18-29 year-olds enrolled in post-secondary institutions in these states.
Caraway provides 24/7 mental, physical, and reproductive healthcare through an inclusive care model. The funding will be used to expand access to its care platform tailored to Generation Z, especially focusing on underserved women and individuals assigned female at birth.
“Gen Z’s health is on the front lines and the only way to meet their needs is to design a new way forward,” said Caraway CEO & Co-founder Lori Evans Bernstein. “With the tsunami of unmet need, our inclusive care platform gives Gen Z – and in particular women and those assigned female at birth who have been underserved by traditional models – instant access to both the immediate health services and ongoing education they need to take care of themselves today and in the future.”
Caraway delivers care via chat, phone, and video visits, backed by interactive digital tools, coaching, and care navigation. This holistic healthcare approach is designed to accommodate the interconnected needs of mental, physical, and reproductive health.
With the secured funding, Caraway aims to expand its services, catering to more young people’s healthcare needs in a convenient and accessible manner.