A New York-based womens health startup is making waves and raising millions in funding to continue doing so. Tia has been operational for four years, providing both in-person and virtual medical care services for women.
Carolyn Witte co-founded Tia with her best friend from her college days, Felicity Yost. Witte and Yost are both 31 and have been featured as under 30 alums of Forbes 30.
Tia for women
Tia recently announced a $100 million fundraising Series B on Tuesday, September 14, 2021. Lone Pine Capital led the fundraising event. Other investors like Threshold, Define Ventures, and Torch Capital, have also raised funds for this event. In the Series B aftermath, Tia has been able to raise a total of $600 million.
The funds that Tia raises are indicators that startup companies labeled as womens health or femtech have been at their peak. Their surge in beating digital companies in the market has been evident as people grapple with the ravages of the damages that Covid-19 has brought about. As of this writing, Tia has raised a total of $132 million.
A core business principle that has led Tias success in the business is this: prioritizing women as the most important clients in the healthcare market. Indeed, 51% of the population are women. In addition, according to a study result from The Journal of Healthcare for the Poor and Underserved, 80% of women are health care decision-makers in the family.
One of Tias services is helping women cope with polycystic ovarian syndrome (PCOS). According to study results, approximately 1 out of 10 women in the United States has acquired PCOS. This disease, at times, produces a hormonal imbalance. It can, thus, affect metabolism and eventually create fertility issues.
PCOS can also cause diabetes and mood mental issues. Unfortunately, approximately 50-75% of women are not aware they have a polycystic disorder. Lack of awareness and access to services are issues that Tia wants to address.
Womens checkups and other services
Women patients may start dropping by at Tia for annual womens checkups. These checkups are included in the insurance coverage of the Affordable Care Act. A minimum of 50% of women will benefit from a different medical service, such as mental health care and gynecology at Tia.
Tia offers services to clients under a membership model. Members pay approximately $150 per year to gain access to the organizations clinics. The first of these clinics was established in New York City in 2019.
Tias nurses and doctors all work as employees in the organization. This situation means that the organizations members visit the same group of medical professionals. Patients can access Tias app to talk to their medical services providers, access their health records, and schedule medical appointments.
