Virtual Care Platform Felix Health Secures $53M

Toronto-based virtual care platform Felix Health has raised $53 million in a funding round led by the Canadian Business Growth Fund, with participation from the Business Development Bank of Canada Women in Tech Venture Fund, BMO Capital Partners, Whitecap Venture Partners, and H Venture Partners, supported by Scotiabank. The company reported reaching a $150 million revenue run rate in its current fiscal year, marking 80% year-over-year growth.

Felix Health provides online consultations and prescriptions for conditions including birth control, PrEP, weight loss, hair loss, erectile dysfunction, skincare, menopause, anxiety, and mental health. The newly raised funds will be used to expand its team, enhance preventative care and testing services, and scale its weight loss platform ahead of the expected introduction of generic GLP-1 drugs in Canada in 2026. According to the CBC, these lower-cost alternatives could enter the market once Novo Nordisk’s exclusivity for Ozempic and Wegovy expires in January 2026.

Cofounder and CEO Kyle Zien said Felix is building “a new kind of healthcare company in Canada—one that provides an accessible and holistic care experience enabled by technology, with the patient at the center.” He added that the funding will help accelerate the company’s mission to empower Canadians to take control of their health and well-being.

Earlier this month, Felix launched Felix Longevity, a preventive health and wellness program designed to help users live longer and prevent disease. The program measures more than 35 biomarkers, including metabolic health, vitamin levels, and thyroid function, and is available in Ontario, British Columbia, and Saskatchewan.

Felix previously raised C$18 million ($13.3 million) in 2023 to expand into more complex care categories and therapeutic services. Other companies in the personalized health space include Numan, which raised $60 million in July to expand into women’s health and preventive care, and knownwell, a weight-inclusive primary and metabolic care provider, which recently announced an oversubscribed $25 million round. Meanwhile, Midi Health, a virtual care platform for midlife women, closed an oversubscribed $63 million Series B this year with participation from a group of female investors, including Amy Schumer.