Gender-Affirming Specialty Care Firm Raises $24M
Plume hopes to expand nationwide and add virtual primary care services.
A firm that could cut some clients’ health care costs has received a new round of financing.
Plume — a Denver-based company that provides a package of prepaid remote health care services for people in the transgender community — announced Tuesday that it had raised $24 million from a group of investors.
Transformation Capital provided the most cash. The investor group also included General Catalyst and Townhall Ventures.
Plume sells a membership-based program that includes telehealth visits and home delivery of hormone medications for $99 per month. Program members manage their benefits through a mobile app.
The firm raised $14 million in February. The firm estimates that it now serves markets that are home to about 90% of U.S. transgender people.
The company told investors it will use the new financing to expand into more markets and offer virtual primary care services.
The HSA Holder Market
Plume offers a specialized form of “concierge care,” or prepaid care.
Taxpayers who contribute to health savings accounts must use the HSAs together with high-deductible health plans that meet federal HSA program requirements.
Under the current program rules, HSA holders can use concierge care programs together with HSA-compatible health coverage, to pay for care before they have met their high-deductible plan deductibles.
Pictured: Plume delivers its services through a mobile phone app. (Image: Plume)