Felix Health has secured $53 million from the Canadian Business Growth Fund (CBGF) and other existing investors as it looks to balance newfound profitability with the growth of its personalized health options for Canadians.

“We saw a big opportunity for us to continue to push our lead in the market.”

The growth financing, which is a roughly equal mix of equity and debt, comes off a hot streak for the Toronto-based telehealth platform. It claimed it attained profitability in July while also managing 80 percent year-over-year growth, and bringing in an annual run rate of $150 million CAD (monthly revenue times 12).

“We certainly weren’t in a position where we needed to raise capital, but we saw a big opportunity for us to continue to push our lead in the market,” Felix CEO Kyle Zien said

See Full Page