E Squared Investments, an impact investor, recently took part in a pre-seed extension funding round for Zoie Health, a health tech company. This funding round, led by 4DX Ventures, aims to support Zoie Health in its mission to provide better healthcare services for working-class young women, pregnant women, and mothers.
Zoie Health operates as a holistic women’s healthcare platform, offering virtual and at-home consultations, medication subscriptions, and a supportive community for women. The platform focuses on delivering high-quality and affordable healthcare services and has already established a strong community of members and specialists.
With the secured funding, Zoie Health has plans to expand Africa’s first digital women’s health clinic. This expansion involves broadening its range of products and expanding into new countries across the continent.
Gladwyn Leeuw, Chief Investment Officer of E Squared, expressed confidence in the leadership team of Zoie Health, highlighting the fact that the company is led entirely by a team of black women. Leeuw believes that Zoie Health’s impactful tech solution is aligned with their values and will be a valuable addition to their portfolio.
This funding deal signifies E Squared’s commitment to supporting digital innovation in women’s healthcare and making quality and affordable healthcare accessible to working-class women. By leveraging the digital component, Zoie Health aims to provide an alternative to traditional healthcare services that are often expensive or difficult to access.
Currently, Zoie Health serves over 5,000 members and boasts an impressive subscriber retention rate of 80%. The company has already onboarded 50 health practitioners, with another 300 in the pipeline. With a remarkable consumer satisfaction score of 9.78 out of 10, Zoie Health demonstrates significant potential for scalability and growth.
Thato Schermer, Co-founder and CEO of Zoie Health, envisions expanding their services to other emerging markets in Africa, including the SADC region, Kenya, and Nigeria.
Zoie Health’s comprehensive solution encompasses virtual consultations, at-home consultations, medication subscriptions, and various health intervention services tailored to women’s needs. The platform also features a chatbot for general advice, pre- and postnatal care, family care, community support groups, and public wellness resources.
Sipho Pilime, Search and Pipeline Head at E Squared, praised Thato Schermer’s entrepreneurial skills and expressed confidence in her ability to build a successful and impactful business like Zoie Health. Schermer, a 2015 Allan Gray Orbis Foundation Fellow, has been recognized for her entrepreneurial achievements and is poised to drive Zoie Health’s future success.