Allara Health garners $26M for women’s health platform

Virtual women’s healthcare platform Allara Health scored $26 million in Series B funding, bringing its total raise to $38.5 million. 

Index Ventures led the round with participation from existing investor GV (Google Ventures).

WHAT IT DOES 

Allara Health offers a virtual care platform for women battling chronic hormonal conditions, such as endometriosis, polycystic ovarian syndrome (PCOS) and hypothyroidism. 

Users can access physicians and nurse practitioners specializing in women’s health, nutrition and lifestyle support, personalized care plans, and metabolic and hormonal blood tests and imaging. 

The company will use the funds to accelerate its cross-country expansion in the U.S.

“Allara was built for the tens of millions of women living with complex hormonal and gynecologic conditions across the U.S., myself included,” founder and CEO Rachel Blank said in a statement. 

“After receiving a PCOS diagnosis without sufficient medical support, I realized firsthand the inequities that exist for many of us throughout the healthcare system. At Allara, we ensure women struggling with hormonal conditions can access affordable care that answers questions, minimizes symptoms, and helps them live fulfilling lives – and we are incredibly grateful for the support from our investors as we deliver on this mission.”

MARKET SNAPSHOT

Allara Health’s founder Blank previously held an investment job at venture capital firm General Catalyst, then left her position to join direct-to-consumer virtual care unicorn company Ro, where she was in charge of growing Ro’s product line for menopausal women dubbed Rory.

Blank left Ro and, in 2021, launched Allara Health because of her own experience with PCOS.

During MobiHealthNews’ 2024 end-of-year series, some healthcare stakeholders highlighted happenings within femtech funding.

WellTheory’s cofounder and CEO, Ellen Rudolph, told MobiHealthNews that she anticipates Investors will begin making bets on women’s health outside of just reproductive health.

“Despite making up half of the population and driving the vast majority of healthcare decisions, just 3% of digital health funding was focused on women’s health between 2011 and 2020, and a majority has gone to startups addressing fertility, pregnancy and motherhood, according to Rock Health,” Rudolph said. 

WellTheory is a virtual care platform for individuals with autoimmune diseases. The company announced a partnership with Maven Clinic last year to offer the virtual women’s and family health provider’s employees access to nutrition and lifestyle coaching from WellTheory. 

Hilary Hatch, chief clinical officer of patient activation-focused digital health startup Phreesia, when asked to reflect on the biggest surprises of 2024, said, “I was shocked – in the best possible way – to see startups, investments and conversations about menopause. Yes, women over 50 are going to take over the world. The attention to menopause has revealed an area of vast unmet need. There’s still a long way to go, but 2024 gave us a glimpse into the future.”