Female-Founded Companies Revolutionizing the Digital Health Industry
Last year I wrote an article on the rise of tech for menopause, which was inspired by a conversation I overheard while waiting in line for my morning coffee. Since that piece, I’ve been fascinated by the number of female founders within the industry that are taking on the great challenge of revolutionizing the way we think about healthcare and how services are delivered. But I was also disappointed to learn how little recognition they had received from venture capitalists and the press.
Many customers today actively look for healthcare that provides high-quality services, competitive prices, and improved user experience — while also having access to data insights on their health. Meeting all of these requirements in one of the least innovative industries is nearly impossible…but it’s happening. According to TechCrunch, in 2020 investors poured over $10 billion domestically into digital health start-ups focused on mental health, personalized care, and data interoperability. This year, we’re likely to continue to investors pour more money into companies leveraging data and perfecting a patient’s experience, while also allowing customers to have access to more information about alternative treatment options.
A study by Fierce Healthcare found that only 40 percent of female-founded companies were venture-backed compared to 62 percent of male-founded ones. Having worked with first-time founders — 65% of them being POC or women — I wasn’t surprised by this. It is, however, still disappointing. In my opinion, women alone are redesigning the healthcare industry and demystifying what we once understood as “wellness.” Without sweating it, female-founded companies have been able to combine data-driven products with personalized experiences while creating strong communities by building long-lasting relationships with customers.
Here are just a few amazing companies that you should watch closely:
Wellory is a personal favorite. Founded by Emily Hochman, the nutrition app delivers a personalized approach to improving eating habits while rejecting diet fads. The app offers nutrition coaching to people wanting to improve their relationship with food, using techniques like micro-adjustments for a macro change to help reach goals. Wellory focuses on a meal-by-meal basis, allowing users to share photos with coaches who provide recommendations and keep users accountable. I’ve used the app for several weeks and was shocked by how much I’d learned about food and eating habits, with a noticeable improvement in my nutrition.
Coral is another great company that’s improving the way we think about sexual wellness. Started by Isharna Walsh, the app shows customers how to enhance their sex life using customized lessons, real stories, and guided exercises. It also has information on libido levels, arousal, pleasure, how to communicate with partners, and more. Coral answers all the sex questions you didn’t know to ask and has a unique approach in helping customers connect their “thought process with physical action.”
Aavia, founded by Aagya Mathur, is the hormone health brand that guides consumers throughout their health journey from beginning to end. They’ve provided the first smart birth control pill case to help women take their pill on time, every day. Now, they also offer a high-quality app to track period and flow, mood, and symptoms to help women better understand what’s happening in their bodies. Aavia aims to provide a holistic view on hormones, which is much needed.
Oula is a modern maternity center that merges obstetrics with midwifery to deliver a personalized, evidence-based pregnancy experience. Oula was founded in Brooklyn, NY, by Adrianne Nickerson and Elaine Purcell. They’re combining human intuition with modern medicine to give mothers an improved experience. Oula also provides full-service pregnancy care from prenatal to delivery, postnatal support, and referrals to other services, like lactation consultants.
For overall health goals, I love Base — founded by Lola Priego —an app that allows customers to achieve their long-term health goals. Whether customers are looking to improve diet, sleep, stress, or fatigue, the at-home Base Improve program can help identify and improve symptoms by providing a personalized kit and plan to fit their customer’s specific needs.
Finally, Real is another great digital health company focused on improving mental health services. Founded by Ariela Safira, Real provides an alternative approach to therapy with a member-centered care system. They understand how essential mental health is to people’s wellbeing and their mission is to provide an affordable and effective service. The Real therapy platform is available on mobile phones and desktops, and combines mental health programming, process tracking, and on-demand therapy.
You might be wondering… what do all of these companies have in common? In my opinion, these companies have mastered the art of personalization, putting the customer first, integrating learning and demystification, and community building. Each one is also providing an essential service that’s high-quality and effective, and is driven by data and science (bye, Goop!). Without a doubt, this is one of the spaces that I am most excited to follow and support as it continues to grow and make quality healthcare available to all.
