2022 ADAPT Finalist, Midi Health, closed a $60M Series B funding round, bringing the company’s total funding raised to date to $100M. Midi Health is now the fastest-growing virtual clinic focused on treating women in perimenopause and menopause.
From the press release:
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.
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 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.”