.png)
.png)
Total amount raised
$20M
Latest funding date
2025-06-10
Location
Eli Health has successfully raised $8.9 million over four funding rounds, focusing on continuous hormone monitoring through at-home technology. The platform offers real-time insights from saliva hormones, aiding women in managing their health in areas such as menopause, fertility, contraception, and endocrine conditions.
Eli Health has raised $20 million USD across multiple funding rounds, backed by investors including BDC Capital's Thrive Venture Fund, Muse Capital, TELUS Global Ventures, Foreground Capital, and others. Keep reading to explore Eli Health's full fundraising journey.
What Is Eli Health?
Eli Health, founded by Marina Pavlovic Rivas and Thomas Cortina, is headquartered in Montreal, Canada. The company specializes in at-home technology for continuous hormone monitoring, providing real-time insights from saliva hormones. With a team of 11-50 employees, Eli Health aims to revolutionize women's health by offering personalized hormone profiles.
How Much Funding Has Eli Health Raised?
- Pre-Seed / Accelerator Round
- Amount Raised: Undisclosed (participated through Techstars Montreal AI accelerator)
- Date: 2019–2020
- Lead Investors: Techstars, Real Ventures
- Notes: Eli Health participated in the Techstars Montreal AI accelerator program, receiving initial backing from Techstars and Real Ventures. Specific amount undisclosed.
- Seed Round (Round 1)
- Amount Raised: $1.5 million USD ($1.9 million CAD)
- Date: December 2020
- Lead Investors: Vectr Ventures and 2048 Ventures
- Other Participants: Real Ventures, Techstars, Panache Ventures, Ramen Ventures, MEDTEQ+, Steven Arless (board member)
- Notes: Funds used to develop saliva-based daily hormone tracking technology for the women's healthtech market.
- Seed Round (Round 2)
- Amount Raised: $3.6 million USD ($5 million CAD)
- Date: February 2023 (announced April 2023)
- Lead Investors: Muse Capital
- Other Participants: RH Capital (Foreground Capital), Cake Ventures, Telus Pollinator Fund for Good, Garage Capital, Leva Capital, Real Ventures, Panache Ventures, Vectr Ventures, MEDTEQ+
- Notes: This was a convertible note round. Eli's cumulative funding reached approximately $6.6 million USD by this time, the largest raised by a women's healthtech company in Canada per Femtech Canada.
- Series A
- Amount Raised: $12 million USD ($17 million CAD)
- Date: June 10, 2025
- Lead Investors: BDC Capital's Thrive Venture Fund (Mona Minhas, Partner; joined board)
- Other Participants: Muse Capital (Assia Grazioli-Venier, Founding Partner; board member), TELUS Global Ventures, Foreground Capital, Accelia Capital, Rocana Ventures, Swizzle Ventures, IKJ Capital, Nextblue, Real Ventures, Garage Capital, Leva Capital
- Notes: Proceeds to support production scaling, additional biomarker development, and expansion of Eli Health's Hormometer™ — the world's first instant hormone monitoring system.
Total Amount Raised: At least $17.1 million USD based on disclosed funding rounds, with the company reporting approximately $20 million USD in total capital raised as of June 2025.
Key Investors
- BDC Capital's Thrive Venture Fund
- Details: BDC Capital is the investment arm of the Business Development Bank of Canada (BDC). Its Thrive Venture Fund is a women-led initiative specifically focused on investing in companies led by women. Mona Minhas joined Eli Health's board as part of the Series A.
- Investment Focus Areas: Women-led companies, Canadian technology and innovation
- Notable Investments: Various Canadian tech and health startups
- Muse Capital
- Details: Muse Capital is a Los Angeles-based venture capital firm focused on underserved markets including women's health. Founding Partner Assia Grazioli-Venier sits on Eli Health's board. Muse Capital led the 2023 Seed round and participated in the 2025 Series A.
- Investment Focus Areas: Women's health, underserved markets, early-stage technology
- Notable Investments: Eli Health and other women's health and consumer technology startups
- Vectr Ventures
- Details: Vectr Ventures is a venture capital firm based in Hong Kong, known for investing in innovative early-stage startups with disruptive technologies. Co-led Eli Health's first seed round in 2020.
- Investment Focus Areas: Technology, healthtech, innovative startups
- Notable Investments: Various tech and health-related startups
- 2048 Ventures
- Details: 2048 Ventures is an early-stage venture capital firm based in New York City. They co-led Eli Health's first seed round in 2020.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Various early-stage tech startups including Canadian companies
- Real Ventures
- Details: Real Ventures is a Canadian venture capital firm that invests in early-stage tech companies. They have participated in multiple Eli Health rounds from 2020 through the 2025 Series A.
- Investment Focus Areas: Early-stage tech companies, particularly in Canada
- Notable Investments: Multiple Canadian tech startups
- TELUS Global Ventures
- Details: TELUS Global Ventures is the venture arm of Canadian telecommunications company TELUS. Previously invested in Eli Health via the TELUS Pollinator Fund for Good before participating in the Series A through TELUS Global Ventures.
- Investment Focus Areas: Technology, health innovation, sustainability
- Notable Investments: Various Canadian and global technology startups
What's Next for Eli Health?
As Eli Health continues to innovate in the women's healthtech market, the opportunities are vast. The company is poised to tap into the growing femtech sector, which is projected to reach $3 billion by 2030. Their non-invasive, hormone-free technology offers significant potential for both fertility and contraception applications, addressing a critical need in women's health.
Future fundraising efforts will likely be essential as Eli Health seeks to expand its product offerings and secure regulatory approvals. The company may attract further investment to support clinical validation and market expansion. However, challenges such as overcoming historical neglect in women's health research and navigating regulatory landscapes remain. Despite these hurdles, the growing recognition of personalized care for women positions Eli Health for substantial growth.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Eli Health and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.
