Midlife women’s health clinic Midi Health announced it secured $60 million in a Series B funding round led by Emerson Collective, bringing its total raise to $100 million.
GV (Google Ventures), who led the company’s $25 million Series A round announced in September, participated in the round.
SemperVirens, Icon Ventures, Felicis, Gingerbread Capital, Steel Sky Ventures, Black Angel Group, Memorial Hermann, K50 Ventures, Operator Collective, G9, 1843 Capital, Muse Capital, Able Partners, F7, Avestria, Anne Wojcicki, and Susan Wojcicki were also investors in Midi’s Series B raise.
WHAT IT DOES
The California-based virtual care company focuses on women 40 years and above going through perimenopause and menopause. It offers a network of nurse practitioners overseen by physicians and researchers and provides interventions from lifestyle coaching to prescription medication.
Midi Health will use the funds to expand insurance coverage beyond its already established nationwide coverage, expand its network by 150 clinicians by the end of 2024, diversify its service lines, and scale its reach.
“We started Midi with just one specific focus: helping women access world-class, expert perimenopause and menopause care, covered by insurance, and we have been at the forefront of delivering on that promise,” Joanna Strober, CEO and cofounder of Midi Health, said in a statement.
“But what we have also learned is that addressing the health concerns of women in midlife is more complex than simply treating hot flashes and prescribing hormone replacement therapy. Midi takes a multi-symptom, holistic approach to care designed to help women live their best, most productive and fulfilling lives–whether that involves medication, lifestyle coaching, natural supplements or other support. Our goal now is to expand services and scope to continue this comprehensive, personalized care far beyond menopause.”
THE LARGER TREND
In 2022, Midi Health received a $14 million seed investment co-led by Felicis and SemperVirens, two capital firms that participated in the company’s recent Series B raise.
Last year, the company partnered with Houston-based Memorial Hermann Health System to provide the health system’s patients with access to Midi Health’s services by going directly to the company’s website or through a referral by a Hermann Health provider.
It also announced that it would expand its virtual care clinic to employers in all 50 states beginning in January 2024.
In March, Midi Health teamed up with Neurotrack, a digital cognitive assessment company, to help women determine whether brain fog symptoms are indicative of menopause or signs of severe cognitive impairment such as early dementia.
Other companies focused on women’s perimenopausal and menopausal health are telehealth startup Evernow and family care-focused digital health platform Ovia Health. In February, Ovia Health announced it expanded its platform to include menopause-focused offerings.