Yes, FOLX is VC-Funded

FOLX was founded to reinvent the healthcare experience for the Queer & Trans community.

FOLX and funding

Our focus is on delivering barrier-free, transparent, reliable, patient-controlled care for Queer & Trans folx. As simple as this should be, reinventing care in this way involves challenging an entire healthcare system that is perversely incentivized to maximize profit at every level without regard to patient control.

Creating a new way to provide patient-controlled healthcare is a risky endeavor. Venture capital is one of the few avenues available to take the risks necessary to tear down the current system and build anew.

We believe that if we are successful at building a new system that delivers a great care experience at a reasonable price, earning a fair profit for doing so is acceptable. For FOLX, earning a fair profit also means directly paying a majority queer, trans, and nonbinary staff and re-investing in product and service development by and for the community. Some may disagree with the idea that a company should make a profit when it comes to healthcare. We honor this opinion. And so we choose to be entirely transparent about how we have been funded.

We also believe that opinion must be considered in the context of the current healthcare system. The current system is locked into an insurance scheme that perversely incentivizes insurance companies to skimp on care & providers to make decisions on behalf of patients based on how they get paid.

So, instead we have chosen to be entirely transparent with our offerings and prices. Our customers control what they get and they decide if they are happy with the outcome. Not insurance. Not providers. Our big bet in being VC-funded is that, for the queer and trans folx we serve, control and transparency are worth paying for.