Women’s healthcare platform Iron Health, which allows obstetrician-gynecologists to connect their patients with primary and other specialty care, launched alongside a $4.5 million seed investment.
The March of Dimes’ Innovation Fund, launched in September, contributed to Iron Health’s seed investment, and is a strategic investor and partner.
New York-based Iron Health is a tech-enabled women’s health platform that acts as a virtual extension of an OB/GYN’s practice, offering connectivity between primary and specialty care while assisting with coordinated care and virtual services.
The platform provides patients with virtual visits, direct messaging and access to an OB/GYN Iron Health team member, including nurse practitioners, registered dieticians, clinical social workers and registered nurses.
The platform was built at Redesign Health, a company that produces, launches and finds funding for other healthcare startups.
“Women across the U.S. are facing healthcare challenges unlike they’ve experienced in decades. Combined with the steadily increasing stress on OB/GYNs, we’re at a critical inflection point,” Dr. Elizabeth Cherot, senior vice president and chief medical and health officer of March of Dimes, said in a statement.
“We selected Iron Health as the first venture investment for the March of Dimes Innovation Fund because their unique value proposition for OB/GYNs and patients complements our mission to improve the health of moms and babies specifically in areas of chronic disease management and mental health.”
THE LARGER TREND
Venture funding slowed substantially for digital health in 2022 following the mega investments seen in 2021. However, investments in women’s health are trending upward despite the decline in overall funding, and some believe women’s health is still ripe for investment.
The March of Dimes Innovation Fund was launched last year to invest in early-stage companies that address maternal and infant health challenges. Its backing of Iron Health marks the fund’s first investment since its inception.
Redesign Health was one of the digital health platforms that garnered enormous funding in 2021, receiving $250 million.
In September, the company scored another $65 million in Series C funding, but just one month later let go of 67 employees, or roughly 20% of its workforce, in a restructuring move.
Redesign Health has launched several digital health companies since its launch in 2018, including home-based care startup MedArrive, cancer care-coordination platform Jasper Health and hybrid mental health company UpLift.
Other companies in the women’s health space include virtual women’s and family healthcare provider Maven Clinic, digital health platform for family care Ovia Health and hybrid women’s healthcare company Tia.
Dr. Manish Kohli will offer more detail during his HIMSS23 session “Digital Bridges: Bringing Hope and Healing to Those Hurting Most.” It is scheduled for Thursday, April 20, at 1-2 p.m. CT at the South Building, Level 4, in room S406 A.