# Phoenix Digital Health

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/phoenix-digital-health

- Industry: Healthcare IT
- Headquarters: Toronto, Canada
- Website: www.phoenix.ca
- Total disclosed funding: $35M
- Latest round: Series C (Mar 13, 2025)
- Investors on record: 3

## About

Phoenix Digital Health Inc. is a Canadian company specializing in telehealth services focused on men's health, providing discreet access to treatments for erectile dysfunction, weight loss, and hair loss through a secure online platform. Based in Toronto, Canada, and founded in 2020 by co-founders Kevin Bache and Gavin Thompson, Phoenix Digital Health Inc. operates a digital health platform that connects users with licensed Canadian physicians for men's health services. The company has successfully raised funding through a Series C round, led by Valspring Capital, on March 13, 2025, totaling CAD 50 million. Phoenix Digital Health Inc. specializes in providing a range of telehealth services primarily focused on men's health issues, including erectile dysfunction (ED), weight loss, and hair loss treatment. Their core offerings include a digital platform that connects clients with licensed Canadian physicians, allowing users to describe their symptoms through a secure online form. The platform facilitates the prescription of doctor-prescribed medications, enabling discreet treatment from the comfort of home. The company's services are designed to address common health challenges faced by men, with a customer base that includes men seeking solutions to ED, weight management, and hair loss. Phoenix operates across Canada, serving major urban centers such as Toronto, Vancouver, Calgary, Edmonton, Ottawa, and Halifax. The revenue model for Phoenix Digital Health Inc. is based on direct-to-consumer transactions facilitated through their online platform. Clients engage with healthcare professionals for consultations, after which treatment options are prescribed and shipped directly to their homes, usually with free two-day delivery. The company offers a variety of treatment plans, including medications for erectile dysfunction, weight loss solutions, and hair loss treatments, with specific pricing structures associated with each service. Revenue is generated primarily through individual consultations and the sale of prescribed medications, allowing for a streamlined and efficient transaction process that enhances customer satisfaction while fostering repeat business. In March 2025, Phoenix Digital Health Inc. raised CAD 50 million in Series C funding led by new investor Valspring Capital, with participation from other new investors Y Combinator and support from CIBC Innovation Banking. The company plans to utilize this funding to expand its team, increase brand visibility, and scale operations. Future initiatives include the launch of new men's health products aimed at expanding their service offerings, with targeted market expansion into the United States by late 2026.

## Funding rounds

- Series C, Mar 13, 2025, $35M — Y Combinator, CIBC Innovation Banking, Valspring Capital

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series C
- CIBC Innovation Banking (https://capitalatlas.ai/funds/cibc-innovation-banking) — Series C
- Valspring Capital (https://capitalatlas.ai/funds/valspring-capital) — Series C