Canadian health technology startup Eli Health has secured $12 million in Series A funding to advance its groundbreaking instant hormone monitoring system, bringing the company's total funding to $20 million. The round was led by BDC Capital's Thrive Venture Fund, with participation from Muse Capital, TELUS Global Ventures, Accelia Capital, and Real Ventures.
The Montreal-based company is developing what it describes as a "real-time interface to the human body" through its flagship product, the Hormometer™, which delivers rapid hormone testing using saliva samples and smartphone technology.
Addressing Critical Gap in Hormone Health Monitoring
The Hormometer launch comes amid growing recognition of hormone health as a critical but often overlooked dimension of personal wellbeing. According to the company, an estimated 60% of adults experience symptoms linked to hormonal imbalance, yet continuous monitoring remains largely inaccessible due to the limitations of traditional lab testing.
"Hormones regulate nearly every major system in the body—governing stress response, sleep, cognitive and physical performance, metabolism, immune function, and much more. But until now, this data has been largely invisible. It's been too expensive, sporadic, and slow to offer the insight people need," said Marina Pavlovic Rivas, Eli Health cofounder and CEO.
The system seeks to transform hormone monitoring by delivering results in minutes, eliminating the need for lab appointments or sample shipments that characterize current testing methods.
Technology Platform and Initial Focus
Eli Health's technology platform, developed over five years, includes more than 12 patent-pending innovations across biochemistry, hardware, software, AI, and endocrinology. The Hormometer has completed third-party validation, secured FDA registration, and is now manufactured in-house.
The platform's initial focus targets cortisol, commonly known as the stress hormone. Cortisol levels naturally fluctuate throughout the day, peaking in the morning and falling in the evening, but this rhythm can be easily disrupted by stress, poor sleep, irregular eating, and light exposure. These fluctuations often go undetected by standard lab tests, which provide only a snapshot in time.
Progesterone will be the next biomarker to launch, with a waitlist already open for interested users.
Commercial Strategy and Market Positioning
The platform is currently in private beta, with early adopters integrating hormone tracking into their daily routines. Subscription plans start at $8 per test with a 12-month commitment, positioning the technology as an accessible consumer health tool.
"We've created a real-time interface to the human body, where hormone tracking is as easy as checking your temperature and as quick as brushing your teeth. And now people will be able to use this data to guide daily decisions based on their body's live feed," Pavlovic Rivas explained.
The Hormometer earned recognition earlier this year at CES 2025, receiving the "Best of Innovation in Digital Health" award for its potential to shape the future of personalized medicine.
Investor Perspective and Market Opportunity
Mona Minhas, partner at BDC's Thrive Venture Fund and now a board member at Eli Health, highlighted the company's strategic positioning in an emerging market.
"Hormonal health is rapidly emerging as one of the most important frontiers in personal wellness. Eli Health recognized this shift early. Through years of focused execution, they've built the science, technological platform, and manufacturing infrastructure to lead the category," Minhas said.
Assia Grazioli-Venier, Founding Partner at Muse Capital and Board Member at Eli Health, emphasized the broader implications of the technology: "For the first time in history, we'll have a continuous, real-world view of hormone patterns at scale. That kind of insight doesn't just improve daily health, it redefines the very infrastructure of care."
Development Plans and Market Launch
The new funding will support manufacturing scale-up, development of additional hormone markers, and broader platform access. The company's approach targets a growing market interest in personalized health, particularly among women navigating hormonal transitions such as perimenopause, fertility journeys, and chronic stress management.
Annick Charbonneau, Founding Partner at Accelia Capital, noted the technical sophistication of the platform: "There's a massive gap between today's consumer health products and what people actually need to understand their bodies in real time. Eli Health closes that gap by fusing rigorous bioscience, custom microfluidic hardware, and a live data engine powered by computer vision into one seamless platform."
The Hormometer is expected to launch publicly later this year, with applications for the beta program currently open. The company's technology could potentially redefine how hormones are managed, tracked, and understood by both individuals and healthcare systems.
