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Evaro, an NHS-licensed company that integrates healthcare offerings into third-party platforms, has closed a $25 million Series A funding round.
AlbionVC led the round, with participation from Exceptional Ventures, Simplyhealth Ventures, Cornerstone VC and BBI.
Christoph Ruedig, partner at AlbionVC, will join Evaro's board of directors.
WHAT IT DOES
Evaro's technology is designed to help third-party companies integrate healthcare infrastructure into their platforms, including consultations, remote diagnostics, prescribing, dispensing and follow-up care.
It works with consumer brands, healthcare providers and employers deploying health benefits.
Evaro's partners include period-tracking app Clue and sexual wellness retailer Lovehoney, which use Evaro's services to offer prescription services to their customers.
The company will use the funds to expand across women's health, longevity medicine and men's health. It will also enhance its clinical capabilities in diagnostics and aftercare and further develop its API infrastructure.
"We've seen embedded finance transform banking, Evaro is now driving the embedded health revolution," Ruedig said in a statement.
"Evaro has spent seven years building its infrastructure properly, with deep regulatory credentials," he continued. "This now allows consumer brands to enter the healthcare space safely, unlocking massive latent demand while relieving pressure on the NHS. We are thrilled to back the team as they define this new category."
MARKET SNAPSHOT​
Evaro formed a partnership with Clue last year to allow UK-based users of the femtech startup to order contraception through the NHS-licensed healthcare platform's embedded pharmacy infrastructure.
Through the partnership, users undergo an online consultation on the Clue app before Evaro's clinicians review and approve the prescription. Users can access 40 NHS-funded oral contraception options and fill their prescriptions on Evaro's platform, with free next-day delivery.
In 2024, Evaro secured $1.5 million in seed funding.
