Monday, 26 February 2024

Midi Health Secures $25M in Series A Funding to Advance Women’s Midlife Care

Revolutionizing Women's Health: Midi Health Raises $25M in Series A Funding to Elevate Midlife Care for Women

Midi Health, a digital healthcare provider specializing in midlife care for women, has successfully closed a $25M Series A funding round with GV (Google Ventures) as the lead investor. This funding round also saw participation from existing investors Felicis, Sempre Virens, Icon, 25M, and Operator Collective, bringing the total funds raised by Midi Health to $40M.

Founded just a year ago, Midi Health has been gaining prominence in the delivery of insurance-covered, expert care for women navigating perimenopause and menopause. The company’s expansion plans include extending its services across all 50 states by January 2024 and establishing partnerships with major U.S. hospital systems and employers. Midi Health has recently formed a strategic alliance with Progyny, a leader in fertility benefits, to offer midlife care to employers nationwide. Notable clients already on board include Stanford University and ServiceNow, with agreements in place with healthcare system clients such as Lifepoint Health.

Frederique Dame, General Partner at GV, shared: “Midi has been gaining traction since its launch and is addressing an unmet need for a significant portion of the global population. Midi’s team has clinical and healthcare expertise and aims to provide personalized, affordable, and accessible midlife care. GV is proud to back Midi as they modernize perimenopause and menopause care for women everywhere.”

In the United States, an estimated 6,000 women reach menopause daily, typically occurring at around age 51. However, perimenopause, the transitional phase leading to menopause, can start much earlier and last for four to seven years. During this period, hormone fluctuations can cause symptoms such as hot flashes, insomnia, anxiety, depression, brain fog, memory loss, joint pain, and genitourinary issues, impacting women’s quality of life and career progression. A recent Mayo clinic study revealed that 15% of women reduce their work hours or miss work due to these symptoms, resulting in approximately $1.8 billion in lost wages annually.

Joanna Strober, CEO & Founder of Midi Health, emphasized the urgency of addressing the gap in care for women during this life stage: “It’s clear that menopausal symptoms can disrupt women’s lives. With too few practitioners trained in managing menopause, women are underdiagnosed, undertreated, and underserved. Midi provides an insurance-covered solution that focuses on women’s unique needs, closing a major gap in health access, quality, and equity.”

Published on : 03rd October, 2023