Diving into our Health Equity Thesis
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Learn more about Coyote Ventures' thesis: investing in tech-enabled solutions that drive access to healthcare for overlooked populations.
We launched Coyote Ventures in 2021 with the belief that investing in companies designed to optimize the health of traditionally overlooked populations, especially women, provides both a powerful opportunity for impact and strong potential for high returns. Years later, we are proud to have backed a variety of companies advancing health equity, improving the lives of women and other historically marginalized communities. Our portfolio spans traditional women’s health, addressing conditions like endometriosis, breast cancer, and maternal health, as well as broader health equity challenges such as social barriers to care, family building resources, aging, caregiving, and much more.
A few portfolio highlights include:
Sunfish helps people afford family planning, starting with a financing plan for IVF.
Alvee helps healthcare systems proactively identify barriers to care and helps to close the loop on resource referrals.
Nolia Health’s clinically integrated approach transforms the experience of caring for an adult living with a chronic condition.
Koda Health combines a digital platform with clinical support to help patients create actionable directives, ensuring their wishes are clearly understood by their healthcare practitioners.
Malama Health delivers doula-led care to support women through pregnancy and postpartum, with a focus on high-risk pregnancies and birth equity.
Parento’s insurance-based paid parental leave programs support working parents with a personalized employee experience and help reduce the financial burden on small businesses.
Our 2024 Impact Report shows how we embed a health equity framework into our investment strategy. We invest in tech-enabled solutions that drive access to healthcare for overlooked populations — and we examine intersecting inequities such as gender, race, socioeconomic status, cultural considerations, and literacy. Many issues affecting women are amplified for women of color; for example, maternal mortality in the US is 3.5x higher for Black women than white women.
Women have long been overlooked and marginalized—a reality starkly reflected in health disparities. On average, women spend 25% more of their lives in poor health than men. Women’s health spans biological, hormonal, and genetic differences, as well as gender-specific experiences. This includes reproductive health issues like menstruation, pregnancy, and menopause, alongside diseases such as breast and ovarian cancer. Conditions like osteoporosis and autoimmune diseases disproportionately impact women, and others—such as heart disease—may present differently than in men. Addressing women’s health requires specialized care that accounts not only for these biological differences but also for the societal barriers that limit women’s access to care. While our investments focus on categories that affect women in unique ways, we’ve structured our impact framework in a novel way that directly aligns with improving the health of women.
Rapid advances in technology — including AI-powered solutions addressing real healthcare challenges — are accelerating innovation across the industry. Healthcare has already embraced tools like electronic health records and telehealth and continues to adopt solutions designed to improve patient outcomes while reducing costs. While new companies emerge with bold ideas and strong missions, success today requires a capable team that can integrate and scale within the complex realities of existing healthcare infrastructure.
We’re excited to further our mission to democratize healthcare access for overlooked populations by backing early-stage companies innovating for health equity. Our core belief is that equitable health solutions can produce long-term value and lower systemic healthcare costs.
To that end, we’re sharing several areas we’re actively tracking for innovation. Our investments won’t be limited to these categories; we also welcome ideas outside of them when a company’s mission aligns with our goal of optimizing health for all. Some areas reflect existing investments in our portfolio, often with one or more of the priority areas intersecting, while others are emerging opportunities we’re watching closely with the hope of finding a strong related investment.
Special thanks to Coyote Ventures team members for contributing to this content: Jessica Karr, Priyanka Vaidya, Erica Maissy, Mary DeFeo, and Nina Joshi.
Human Health & Lifespan
Mothers & Families
Maternal health in the U.S. faces a crisis: the country has one of the highest maternal mortality rates among developed nations, and Black women are three to four times more likely to die from pregnancy-related causes than white women (CDC). Beyond pregnancy and childbirth, families in the U.S. often face significant economic burdens when planning for children and caring for young ones — from the high costs of fertility treatments, prenatal care, and delivery to childcare expenses that can rival housing costs. These pressures are especially acute for low-income households, where financial strain can limit access to quality care and healthy environments. At Coyote, we are interested in solutions that reduce maternal health disparities, expand access to culturally competent care, and alleviate the financial and logistical barriers that families face in raising healthy children.
Aging & Caregiving
America is aging. The number of Americans aged 65+ is projected to grow from 58 million in 2022 to 82 million by 2050 — a 47% increase (PRB). Yet, the supply of physicians specializing in age-related illnesses such as Alzheimer’s disease is not expected to keep pace, meaning older adults will increasingly rely on caregivers for high-touch, quality support at home. Caregivers may be spouses, adult children, friends, or professionals, and caregiving itself often spans beyond seniors — encompassing care for children, people with disabilities, and others in need of ongoing support. Healthy aging also means aging with joy, fostering emotional well-being, and finding communities where older adults can stay socially connected and supported. At Coyote, we are excited about solutions that integrate into existing healthcare processes (such as EHR systems) to provide caregivers with personalized resources, actionable information, and connections to support networks — ensuring both patients and caregivers can thrive.
Social & Structural Health
Financial Access & Affordability
The cost of healthcare remains one of the biggest barriers for the general US population to achieving better health outcomes. High deductibles, co-pays, and uncovered services can make care unaffordable, even for those with insurance. The intersection of fintech and healthcare opens new pathways to close this gap — from financing options that help individuals cover high-cost, time-sensitive needs such as family planning or specialized procedures, to insurance-based benefit programs that support working parents and reduce financial strain for employers. These innovations demonstrate the potential for financial tools to expand beyond individual medical costs into broader life and family health needs, including caregiving, long-term condition management, and preventive care. As these models evolve, we believe future opportunities lie in embedding flexible, transparent, and equitable financial solutions directly into the care journey — enabling patients to access timely care, improving adherence to treatment, and reducing disparities that arise when cost is a barrier.
Social Determinants of Health (SDOH)
Healthcare goes beyond the four walls of an exam room. Social and environmental factors — from access to housing and transportation to clean air and safe neighborhoods — have an enormous influence on health. The World Health Organization estimates that social determinants of health (SDOH) account for 30–55% of health outcomes. Environmental determinants, including pollution and climate change, are worsening and further driving inequities: air pollution alone is linked to 7 million premature deaths globally each year, with disproportionate impact on vulnerable populations such as children, older adults, and communities of color (WHO). At Coyote, we are excited about innovative solutions that measure and improve aspects of people's lives that go beyond the walls of healthcare, that are inextricably linked to health. Promising approaches include tech-enabled platforms that help providers screen for and address SDOH in real time; climate-resilient healthcare infrastructure; predictive analytics to identify populations at risk from environmental hazards; and community-based interventions that link patients to local resources for food, housing, and transportation.
Food and Nutrition
Nutrition is a critical yet often overlooked component of healthcare, with a direct impact on maternal health, chronic disease management, and long-term wellness. Inadequate access to nutrient-rich foods during pregnancy can increase risks for complications such as gestational diabetes, preterm birth, and low birth weight — outcomes that disproportionately affect women in underserved communities. For those living with chronic conditions like diabetes, cardiovascular disease, and cancer, appropriate nutrition support can improve treatment outcomes and enhance quality of life. However, many patients face systemic barriers such as food insecurity, limited transportation, and a lack of culturally relevant dietary guidance. Integrating nutrition into medicine also means empowering physicians and care teams to identify and address patients’ social determinants of health (SDOH), including connecting them to local and national food assistance programs. At Coyote, we are excited about innovations that bring food and medicine together — from personalized nutrition programs to medically tailored meals — making dietary support a standard, accessible part of preventive and therapeutic care.
Community Health
Health is deeply shaped by the environments we live in and the connections we have with those around us. Community spaces — from neighborhood centers to faith-based organizations — can be powerful convening places where people share resources, build trust, and support one another’s well-being. Community health workers, peer educators, and local leaders often serve as trusted messengers, helping residents navigate healthcare systems, access services, and adopt healthier behaviors. These relationships can play a critical role in addressing racial health disparities by ensuring care is culturally relevant and accessible. When community-based initiatives are integrated with healthcare systems, they can improve preventative care, increase early detection of conditions, and reduce unnecessary hospital visits. At Coyote, we are excited about solutions that strengthen community health infrastructure, leverage peer-to-peer networks, and harness local knowledge to create lasting, equitable health outcomes.
Whole-Person Health
Mental & Behavioral Health
One in five Americans lives with a mental health illness (NAM), and specific cohorts like women and minority communities are especially vulnerable. While telehealth for mental health appointments has scaled, there are vast opportunities for tech-enabled solutions to assist in the diagnosis and treatment of conditions, as well as solutions for targeted populations. Mental health is often a co-morbidity with other women’s health conditions, so it is an important feature to consider including within a wraparound service, rather than through a standalone solution. At Coyote, we are excited about mental health solutions that drive meaningful health outcomes, and that integrate with holistic solutions while providing accessible and affordable care.
Chronic Conditions & Oncology
Chronic conditions affect 6 in 10 U.S. adults and drive the majority of healthcare spending (CDC). Diseases such as diabetes, cardiovascular disease, autoimmune disorders, and cancer disproportionately impact women—especially women of color—due to intersecting biological, social, and economic factors. Cardiovascular disease is the leading cause of death for women (CDC), yet it is often underdiagnosed and undertreated due to misconceptions that it primarily affects men and because symptoms can present differently in women. Cancer remains a leading cause of death for women, with disparities in screening, diagnosis, and treatment contributing to worse outcomes for marginalized groups. Preventive care and early intervention remain underutilized, and many patients face fragmented care and limited ongoing support. Tech-enabled solutions can transform management through continuous monitoring, personalized care plans, and integrated data sharing. At Coyote, we seek innovations that improve outcomes and quality of life while expanding access to affordable, coordinated care that addresses the root causes of these disparities.
Preventative Health
While the traditional healthcare model focuses on symptom management reactively, functional health offers an alternative approach by treating the root cause of disease, taking a holistic and preventative approach to healthcare, and considering personalized impact across genetic, environmental, and lifestyle factors. At Coyote, we are excited about solutions that combine diagnostic testing and wearable technology with clinical insights and patient-centered care. Preventive health innovations have the potential to shift the healthcare paradigm by enabling earlier detection, proactive risk management, and sustained lifestyle interventions that reduce the burden of chronic disease. We are particularly interested in accessible, tech-enabled models that make high-quality preventative care available to underserved populations, ensuring these benefits are not limited to those with the means to pay out of pocket. By prioritizing prevention, we can improve health outcomes, lower long-term costs, and create a more equitable healthcare system.
Sleep Health
With the growing prevalence of wearables, people can now track and monitor many aspects of their daily lives — particularly fitness and sleep. Sleep is one of the most foundational pillars of well-being, influencing physical health, mental resilience, and emotional stability. Insights from sleep tracking and monitoring create powerful opportunities for personalized, actionable recommendations that can help consumers optimize rest and recovery. While innovation in this space has often centered on insomnia, many other complex sleep and fatigue-related conditions — from sleep apnea to circadian rhythm disorders and chronic fatigue syndromes — affect millions and remain underdiagnosed or undertreated. At Coyote, we are excited about solutions that not only improve sleep quality but also integrate recovery and energy management into broader health strategies, creating a measurable impact on overall quality of life.
Taboo Topics
Innovations in women’s health have long been hindered not only by a lack of research but also by the discomfort surrounding topics often considered taboo, such as menstruation, menopause, and sexual wellness. This cultural reluctance has stifled open dialogue, slowed funding, and left many needs unmet. Today, a new wave of innovators is breaking through these barriers, sparking conversations that normalize these subjects while delivering solutions grounded in human-centered design. By addressing pain points that have been overlooked for decades, these entrepreneurs are creating products and services with the potential to scale in markets that are both underdeveloped and underserved. At Coyote, we are excited about opportunities that combine empathetic design, robust evidence, and bold storytelling to transform stigmatized areas of women’s health into spaces of empowerment, accessibility, and measurable impact.
Systems & Infrastructure
Inclusive Data Sets
Inclusive data is foundational to advancing women’s health and health equity. Historically, data collection has been biased. Examples include children’s growth charts being modeled after white boys, breast cancer assessments being trained on mostly white women, and women being largely excluded from clinical trials until 1993. Even today, clinical trials often fail to enroll representative populations and also fail to segment data sets for data analysis. EHRs capture only fragmented encounters, and OBGYN-based data collection excludes women who do not regularly seek care. Building women-specific data sets requires intentional inclusion of sex-specific lab tests, biomarkers, and research measures, alongside integration of daily lifestyle and wearable data. Equally important is incorporating social determinants of health (SDOH) by leveraging Medicaid, Medicare, and FQHC cohorts that capture diverse, underserved populations. Beyond enrollment, trials, and data systems must not only include diverse participants but also analyze and segment results across gender, race, income, and geography to generate insights that truly reflect lived experience and improve outcomes.
Data Analytics
You can’t improve what you don’t measure — and in healthcare, timely, actionable data is essential to driving better outcomes and experiences. Robust analytics enable payers and providers to identify trends, optimize care pathways, and measure progress toward equity goals. When harnessed effectively, software can create efficiencies that free up clinical time, reduce administrative burdens, and close critical gaps in care. For example, analytics can illuminate disparities in screening rates, track follow-up care for chronic conditions, or flag patients at higher risk due to SDOH such as housing instability or food insecurity. Yet many health systems still struggle with fragmented data, limited interoperability, and analytics tools that fail to translate insights into actionable steps. At Coyote, we are excited about innovations that integrate seamlessly into existing workflows — from payer and provider analytics platforms to AI-driven decision support — enabling care teams to make informed, real-time interventions that improve patient outcomes, enhance experiences, and address inequities at scale.
Workforce
A healthy, supported workforce benefits not only employees but also the organizations they serve. When employees experience less financial stress, have access to quality healthcare, and maintain better overall health, they can show up to work more engaged, productive, and resilient. Beyond health benefits, this means investing in solutions that address the root causes of burnout, absenteeism, and turnover — from mental health resources and flexible benefits to financial wellness tools. In healthcare specifically, workforce challenges are intensifying, with shortages in key roles and growing demands on providers. Innovative staffing models, tech-enabled training, and efficiency tools can help relieve pressure on clinical teams, enabling them to focus more on delivering high-quality patient care. At Coyote, we are excited about solutions that support both the broader workforce and the healthcare workforce itself — building environments where people can thrive, and systems can deliver better outcomes at scale.
Patient Education & Decision Support
When patients enter care, they need clear, accessible resources to understand their treatment options, ask informed questions, and actively participate in decision-making. Better-informed patients not only experience improved outcomes, but also reduce the burden on providers to deliver all education during time-limited visits — helping to eliminate bias and foster more equitable care. Health literacy is a critical foundation for this, yet many Americans struggle to navigate the healthcare and insurance systems, leaving them at a disadvantage in making informed choices. As women make 80% of healthcare decisions in the household, ensuring they have the tools to understand their options and the system’s complexities is essential. High-quality education and decision support — whether through digital tools, interactive content, or tailored care navigation services — can empower patients to confidently engage with providers, make sound financial and medical decisions, and better advocate for themselves and their families. At Coyote, we are excited about solutions that integrate seamlessly into the care journey, meeting patients where they are and giving them the knowledge and confidence to drive their own health outcomes.
Science & Frontier Technology
Hormonal Health
Hormones are central to physical and mental well-being, influencing energy, mood, metabolism, and reproductive health. In 2024, more than half of women and nearly half of men had their hormone levels tested (NBJ)—signaling a growing trend toward proactive, longitudinal hormone tracking. Continuous monitoring can unlock insights that one-time tests miss, empowering individuals to understand cycles, optimize fertility, navigate menopause, or support gender-affirming care. Yet accurate hormone testing is complex, requiring standardized sampling protocols that account for time of day, fasting state, and menstrual cycle phase. We’re excited by innovations that make hormone tracking precise and accessible, combining reliable measurement with personalized insights, and shifting care from reactive to proactive optimization. Learn more about the challenges and opportunities in hormone measuring devices on our blog here.
Microbiome Health
It is known that human health is heavily influenced by the microbiomes that exist on our bodies – including across the skin, along the digestive tract, and within the vagina. Research and innovations in the microbiome space are providing us with the knowledge and tools to utilize our microbiomes to promote health. At Coyote, we are interested in companies that use novel scientific approaches to measure microbiomes with digital platforms that provide personalized health insights, particularly addressing conditions that disproportionately affect overlooked populations. Learn more about why now is a great time to invest in microbiome health from our past piece on the topic here.
FAQ
What industries are you investing in?
We are primarily focused on digital platforms, including digital health. We have also invested in data analytics platforms, fintech, and insurtech solutions related to healthcare and wellbeing. We are currently not investing in therapeutics, medical devices, or CPG.
Do you invest outside the US?
No, at this time we are US-only. Since this may change in the future, we are always happy to learn more about global innovations addressing overlooked populations.
How do you help founders in your portfolio?
Recognizing that healthcare is a dynamic, interwoven industry, supporting our portfolio with the insights and connections that bolster their growth is critical. We work hard to foster a multi-disciplinary ecosystem that includes key stakeholders of the healthcare industry. To bring these multi-disciplinary relationships to life, we host biannual Health Equity Innovators events – a larger summit in the spring, and a smaller gathering in the fall. These curated events are designed for impact, minimizing the content and optimizing for connections and experiences.
What do you look for when you make a new investment?
Stage: We focus on pre-seed and seed stage investments. For pre-seed investments, we focus on a strong team (second-time founders or health tech executives) with a blue ocean opportunity. For seed investments, we typically expect an MVP and some enterprise traction (at least one pilot or contract).
Founders and team: We seek founders who have career experience with the buyers of their solution. Additionally, ideal founders also demonstrate a deep connection to the communities their solution is serving, whether through diverse leadership, lived experience, or authentic community engagement.
Scale: Companies must demonstrate a clear business model with a defined path to revenue, with capital efficiency. The revenue model must be able to scale to $100M+ in revenue over a few years. Financial models are important because they show a story of growth and quantify aspirations in numerical terms.
Impact: We look for solutions backed by evidence of clinical efficacy and measurable outcomes, and we prioritize partners who are committed to transparent impact measurement and continuous improvement.
Product: We seek products that are designed with human-centered insights and iterative rounds of feedback from various stakeholders.
Stakeholder Engagement: Traditional healthcare companies are operating alongside large health systems, payers, and within the current policy framework. We’ll review how the company has engaged these stakeholders and reduced risks associated with each.
Are you a FemTech fund?
No, we don’t identify as a FemTech fund, as the term’s definition is narrower than our investment scope. While we have invested in traditional women’s health conditions that fit into a “FemTech” lens, our investment thesis is broader. We invest primarily in digital platforms that are designed with women in mind, and often, women are the majority user base. Additionally, we have an encompassing definition of health, which includes physical, financial, mental, emotional, occupational, developmental, interpersonal, community, and environmental health.
Do you only invest in female founders?
We do not have a specific mandate to invest in female founders, though the vast majority of the CEOs in our portfolio are female. We do ensure there is some level of diversity on a company’s founding team before scheduling a first call. We look for founders with lived experiences with the problems they are designing for; therefore, many of the founders we work with have designed their unique solutions for problems they experienced first-hand. They typically also have a career background in healthcare that informs their ability to launch and scale health tech products.