Teal Health Secures $10M Funding for At-Home Cervical Cancer Screenings

Addressing the Discomfort of Cervical Cancer Screening

Undergoing cervical cancer screening can be a source of anxiety for many women. The annual process often involves a clinical setting and a procedure that is frequently perceived as uncomfortable and lengthy.

Recognizing this challenge, Kara Egan and Dr. Avnesh Thakor collaborated in 2020 to establish Teal Health. Their vision is to empower women through accessible resources and, crucially, to develop a product enabling at-home cervical cancer screenings.

Development and Funding

Teal Health emerged from a stealth phase in January 2023 and initiated clinical trials in November of the same year.

The company’s innovative approach has attracted significant investor interest. Today, Teal Health announced a $10 million seed extension, spearheaded by Emerson Collective and Forerunner, increasing the total funding received to $23 million. Serena Ventures and Chelsea Clinton also participated in this funding round.

“Cervical cancer screenings represent a vital touchpoint in a woman’s healthcare journey,” explained Egan, co-founder and CEO, in a statement to TechCrunch. “Currently, over 25% of women are overdue for this potentially life-saving screening.”

The Teal Wand and At-Home Screening

Subject to FDA approval, Teal Health intends to launch the Teal Wand for at-home use. Individuals will be able to request a collection kit directly to their homes.

Upon receiving the kit, users will collect a vaginal sample utilizing the Teal Wand, securely seal it, and then ship it to a Teal-approved laboratory. A telehealth consultation will be provided by the company. “Comprehensive support is available to address any questions throughout the process,” Egan assured.

The Importance of Screening and Market Opportunity

While cervical cancer was once a leading cause of cancer-related deaths among women, increased prevention and screening efforts led to a decline. However, recent years have shown a stabilization of these improvements, attributed to a decrease in women prioritizing preventative care.

“Women are committed to maintaining their health, but they often juggle numerous responsibilities,” Egan noted. This unmet need in the market coincides with a growing trend of increased investment in women’s health companies.

Egan described her fundraising experience as “energizing,” leveraging her existing professional network, built during her prior career as an investor.

Future Plans and Competitive Landscape

The newly acquired capital will be dedicated to supporting the launch of the Teal Wand.

“These funds will enable us to refine our telehealth platform, enhance our patient portal, expand our educational resources, and bolster our customer support capabilities,” Egan stated. “We are also focused on expanding our team of skilled medical professionals and scaling our operations across the United States.”

While several companies focus on women’s health, Teal Health distinguishes itself by offering an at-home device specifically for cervical cancer screening. The company views traditional OB/GYN practices as its primary competition, aiming to attract customers by providing a more comfortable and convenient alternative to in-person appointments.

“Current standard care is proving inadequate for many women, as evidenced by declining screening rates and rising cancer incidence,” Egan concluded. “By increasing accessibility, comfort, and convenience, we can improve screening rates and ultimately work towards the elimination of cervical cancer in the U.S.”