Coral Secures $4.1-Million in Seed Funding to Enhance Menopause Care
Deal News | Feb 11, 2025 | Diagram Ventures GP Inc
Montreal-based Coral, a femtech startup dedicated to addressing women's health issues related to menopause, has successfully raised CAD 4.1 million in seed funding. The funding round, which closed at the end of last year, was led by Brightspark Ventures with participation from Diagram Ventures and The51. Coral offers a virtual health platform accessible via an app, where women can receive personalized care plans for menopause-related symptoms. The platform is designed to bridge the gap in the treatment of menopause through comprehensive data collection and interaction with healthcare professionals. CEO Fiona Lake Waslander emphasized Coral’s potential to innovate in women’s health. With plans to utilize the funds for platform development and nationwide expansion, Coral aims to address the widespread dissatisfaction with menopause care in Canada. The funding round reflects the growing recognition of femtech as an underserved sector in health technology.
Sectors
- Femtech
- Healthcare Technology
- Venture Capital
Geography
- Canada – The primary location where Coral operates and aims to expand its platform across the nation.
- United States – Referenced for comparative analysis with similar American femtech startups like Midi Health and Evernow.
Industry
- Femtech – Refers to innovative solutions and products specifically targeting female health and wellness, with a focus on menopause in this article.
- Healthcare Technology – Involves the application of technology in delivering healthcare services, such as virtual platforms for personalized care.
- Venture Capital – Involves investment in early-stage companies with growth potential, as demonstrated by the investment from Brightspark Ventures and others.
Financials
- 4.1 million CAD – The amount raised by Coral in its seed funding round.
- 700 CAD – The approximate cost of a six-month menopause management plan offered by Coral.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Coral | Target company | Company | A Montreal-based femtech startup aiming to improve menopause care through virtual health platforms. |
| Brightspark Ventures | Investor | Company | A Montreal-based venture capital firm that led Coral’s seed funding round. |
| Diagram Ventures | Investor | Company | A venture capital company that participated in Coral’s funding round. |
| The51 | Investor | Company | A women-led venture capital fund that participated in Coral’s seed round. |
| Fiona Lake Waslander | Co-Founder and CEO | Person | CEO of Coral with extensive experience in the tech industry. |
| Anna Chif | Co-Founder and Chair | Person | Co-founder of Coral and former chief product officer of Dialogue. |
| John McCalla | Co-Founder | Person | Co-Founder of Coral and former vice president of engineering at Dialogue. |