Clinical trial startup Faro Health raises $20M and more digital health fundings

Faro Health, which offers software to help researchers design clinical trials, announced last week it had raised $20 million in a round led by General Catalyst.

Participants in the raise include returning investors Section 32, Polaris Partners, Zetta Ventures, and Northpond Ventures. The startup previously scooped up $15 million in Series A funding.

“Faro has developed software that allows rapid evaluation of clinical study costs, accessibility to patients and ease of study conduct,” Elena Viboch, partner at General Catalyst, said in a statement. As part of the investment, Viboch will join Faro’s board of directors. “By helping study teams answer complex questions, Faro’s solution aims to improve lives by bringing more efficiency to clinical trials.”

Marker Learning, which provides virtual assessments and support for learning disabilities, raised $15 million in Series A funding led by Andreessen Horowitz. 

Others participating in the round include the venture arm of Richard Branson’s Virgin Group, Primary Ventures, Difference Partners, Operator Partners, Night Ventures and strategic angel investors. The startup previously raised $4 million in seed funding in 2021. 

“We are committed to serving all students and others with learning disabilities, no matter their backgrounds or means,” cofounder Emily Yudofsky said in a statement. “Creating greater educational equity and access to learning support has always been, and will continue to be, Marker’s north stars.”

Virtual reproductive care startup Twentyeight Health scored $8.3 million pre-Series A funding.

The raise included participation from RH Capital, Seae Ventures, Impact Engine, Acumen America, Stardust Equity, California Health Care Foundation, Penn Medicine-Wharton Fund for Health, Great Oaks Venture Capital and strategic angel investors. Previous investors SteelSky Ventures, Third Prime, Town Hall Ventures, GingerBread Capital and Algaé Ventures also joined the raise.

Twentyeight provides telehealth services and delivery for birth control, the morning after pill, abortion medications, herpes care, prenatal vitamins and COVID-19 tests. The startup raised $5.1 million in 2020.

“Over 55% of Twentyeight Health’s users are from low-income backgrounds on Medicaid, 58% identify as BIPOC and over 60% didn’t have prior access to prescribed birth control methods. With this new funding, we look forward to showing the world that telehealth can play an important role in expanding access to equitable care,” cofounder Bruno Van Tuykom said in a statement.

Virtual hearing care startup Tuned raised $3.5 million in a funding round led by Distributed Ventures, with participation from Idealab NY and Elements Health Ventures. 

Tuned offers online hearing assessments, consults with audiologists and products like headphones and ear-protection items. 

“This funding represents a significant milestone for our platform as we continue to expand our team of audiologists and partner with employers to integrate hearing health into employee benefits packages,” Danny Aronson, CEO and cofounder of Tuned, said in a statement. “Having been impacted by hearing loss myself, I’ve experienced firsthand how expensive and ineffective this vertical of healthcare can be and the need for a telehealth platform that makes hearing care more attainable.”



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