Lead investor Emerson Collective champions Midi's mission to
expand access to expert, insurance-covered care for women in
midlife and beyond
LOS
ALTOS, Calif., April 24,
2024 /PRNewswire/ -- Midi Health, the fastest-growing
virtual care clinic for women navigating perimenopause and
menopause, today announced the close of a $60M Series B funding round led by Emerson
Collective, bringing the company's total funding raised to date to
$100M. Additional investors include
GV (Google Ventures), who led the previous funding round, along
with Memorial Hermann, SemperVirens, Felicis, Icon Ventures, Black
Angel Group, Gingerbread Capital, Able Partners, G9 and Operator
Collective. They join a syndicate of primarily female-led investors
including F7, Steel Sky Ventures, Avestria, Muse Capital, 1843
Capital, Anne Wojcicki, Susan Wojcicki, and K50 Ventures.
Women spend more than a third of their lives in perimenopause or
menopause, with more than 1.2 billion women globally expected to be
in these life stages by 2030. Upwards of 85 percent of women will
experience menopausal symptoms that can negatively impact their
productivity and quality of life, yet 75% of women who seek care
for these symptoms do not receive any treatment. The primary reason
is that only about 1 in 5 OB/GYNs, and even fewer primary care
physicians, receive specialized menopause education or
training.
"Historically, women's healthcare has been neglected, with
perimenopause and menopause having significant unmet needs," said
Fern Mandelbaum of Emerson
Collective. "Midi is providing expert, empathetic care coupled with
comprehensive insurance coverage, finally addressing this gap and
ensuring that all women receive the support they need and
deserve."
A pioneer in the midlife women's health space, Midi Health was
founded in 2021 with a mission to close this care gap, and is now
the fastest-growing virtual clinic focused on treating women in
perimenopause and menopause. Over the past year, the company has
cared for tens of thousands of patients, expanded to all 50 states,
added Fortune 100 employers offering Midi as a workplace benefit,
and launched partnerships with major healthcare systems such as
Memorial Hermann and benefits platforms such as Progyny and
Cleo.
The additional round of funding will allow Midi to expand
insurance coverage (already established nationwide), hire and
upskill an additional 150 clinicians by end of year, diversify
service lines, amplify the conversation around midlife women's
healthcare, and scale to care for 1 million+ women per year by
2029.
The quality of Midi's care is validated by a recent survey of
2,200 patients, in which:
- 91% report overall symptom improvement within 2 months of their
first Midi visit. Broken down for several symptoms:
- 94% report improvement of hot flashes and night sweats within 3
months
- 93% report improvement of insomnia within 5 months
- 92% report improvement of moodiness, anxiety, and/or depression
within 2 months
- 89% report improvement of brain fog and memory lapses within 5
months
Midi shows similarly strong results for a number of other health
concerns, and the clinical team is well positioned to meet many
more needs for women between the ages of 35 and 65 over the course
of 2024.
The new funding reflects a growing national awareness of women's
unmet healthcare challenges, and support for innovative solutions
designed to fill care gaps. This year, President Biden signed an
Executive Order aimed at advancing women's health research and
innovation, with a specific focus on menopause, and a groundswell
of corporate employers have added menopause benefits. Midi has
seized this unprecedented opportunity to transform midlife
well-being for the 1 in 4 women in the U.S. over the age of 40. The
benefits extend far beyond a patient population: Addressing the
care gap for women in perimenopause and menopause can boost the
average per capita GDP generated by women by 1.7%, contributing at
least $1 trillion to the global
economy by 2040 (Source: McKinsey Report).
"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," said Joanna
Strober, CEO and Co-founder of Midi Health. "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."
For visual assets including photos and b-roll, visit
https://www.joinmidi.com/press-room. For patient stories and more
comments from Midi Health CEO Joanna
Strober, visit joinmidi.com/series-b-announcement.
About Midi Health
Midi Health is the fastest growing
virtual care clinic focused on women navigating midlife hormonal
change and beyond. With treatment protocols created by world-class
medical experts in perimenopause and menopause, delivered by
clinicians trained in women's midlife health, Midi Health provides
patients with personalized care plans that include hormonal and
non-hormonal medications, supplements, lifestyle coaching and more.
All services are covered by insurance, and conveniently accessible
through telehealth visits and 24/7 messaging. To learn more, visit
www.joinmidi.com.
Media Contact:
Aimee
Grove for Midi Health: 376687@email4pr.com; 415-706-1906
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SOURCE Midi Health