Undergoing cervical cancer screening can be a daunting experience. It is an annual procedure that often feels intrusive and lengthy, set against the bright lights of a medical office.
Recognising the need to improve the experience for women, Kara Egan and Dr. Avnesh Thakor collaborated in 2020 to establish Teal Health. This company focuses on women’s health resources and aims to develop innovative products that enable women to perform cervical cancer screenings in the comfort of their homes. This pioneering product is currently awaiting FDA approval.
Teal Health officially emerged from stealth mode in January 2023, starting clinical trials by November of the same year.
The concept has garnered significant investor interest. Recently, Teal Health announced a $10 million seed extension led by Emerson Collective and Forerunner, raising its total funding to $23 million. Other notable investors include Serena Ventures and Chelsea Clinton.
According to the co-founder and CEO, cervical cancer screenings serve as a crucial first step in a woman’s overall health journey, noting that “over 1 in 4 women are currently overdue for this essential screening.”
Once FDA approval is secured, Teal Health is set to launch the Teal Wand for at-home use. Individuals will be able to order a collection kit, which comes with a telehealth consultation. After receiving the kit, they will collect vaginal samples with the Teal Wand, seal the samples, and send them to an approved laboratory. Support from Teal Health will be available throughout the process to answer any questions.
While cervical cancer was once a leading cause of cancer-related deaths among women, advances in screening and prevention have significantly reduced these statistics, as reported by the American Cancer Society. However, recent years have seen a plateau in these declines, attributed to a marked increase in women foregoing preventive care.
Kara Egan highlighted that women strive to maintain their health screenings, yet often face numerous competing priorities. This gap in the market comes at an opportune moment, coinciding with a rising trend in investments supporting women’s health initiatives.
Egan described her fundraising experience as “invigorating,” having connected with primary investors through her extensive professional network, drawing on her background as an investor.
Teal Health plans to allocate the new funding towards the launch of the Teal Wand.
The funding will enhance various capabilities, including the telehealth platform, patient portal, educational materials, and customer support systems, while also aiding in the expansion of their team of skilled medical professionals. Egan expressed a commitment to scaling operations throughout the U.S.
Although there are numerous companies in women’s health, few offer an at-home solution for cervical screenings. Teal’s primary competition arises from traditional OB/GYN services; however, the company aims to provide a more comfortable alternative, alleviating the need for in-person appointments.
Egan pointed out that the conventional care model is failing women, as evidenced by plummeting screening rates and rising cancer incidences. By making this essential preventive screening more accessible, comfortable, and convenient, Teal Health aspires to boost screening rates and contribute to the elimination of cervical cancer within the U.S.
