- Caraway’s care model addresses a plethora of challenges facing the youngest adult generation
- They will use the funds to expand access to their cutting-edge care platform for Gen Z
Caraway, a digital healthcare company for Gen Z, announced $16.75 million in Series A funding from Google Ventures (GV) and Maveron, Bankless Times learned from a press release. GV, of whom Alphabet (Google) is a sole limited partner, is known to invest in cutting-edge initiatives, including in the crypto industry. Returning investors also include 7wireVentures and Hopelab Ventures.
Building an inclusive care model
In total, ten states will offer access to inclusive healthcare to almost half of all 18-29-year-olds enrolled in institutions of higher learning, including colleges and universities. Caraway’s model addresses a plethora of challenges facing the youngest adult generation by providing physical and mental healthcare in one place, 24/7.
Caraway will use the funds to expand access to its cutting-edge care platform created for Gen Z people of all races, ethnicities, and genders. Caraway CEO and cofounder Lori Evans Bernstein said:
With the tsunami of unmet need, our inclusive care platform gives Gen Z – and in particular women and those assigned female at birth who have been underserved by traditional models – instant access to both the immediate health services and ongoing education they need to take care of themselves today and in the future.
Gen Z is facing a mental health epidemic
55% of the members of this generation classify their mental health as poor, and they're also considered the loneliest generation. 88% of Gen Z women face at least one obstacle to access to oral contraceptives. Almost half of young women report negative contact with their healthcare providers. Three-quarters of Gen Z are worried that poor health will harm their quality of life.
Mobile-first care
Gen Z lacks access to health care customized for their mobile-first expectations. Caraway offers 24/7 services by phone, chat, and video calls and health skill building with navigation, coaching, and interactive digital tools.
Cathy Friedman, GV Executive Venture Partner, said:
GV is proud to be an early investor in Caraway, and we are excited to support the team as they create a new standard of healthcare for the Gen Z population. Caraway is led by a seasoned, mission-driven management team adept at navigating the complexities of the healthcare system. Caraway's unique approach provides comprehensive mental, physical, and reproductive healthcare for better patient outcomes.
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