US virtual care clinic bags US$25m from Google Ventures

The virtual care clinic Midi Health has raised US$25m in funding to expand access to expert midlife care for women in the US.

Midi Health aims to help women navigate the midlife hormonal transition with virtual care guided by physicians and researchers who oversee a network of nurse practitioners trained in women’s health.

The company will use the new capital to expand operations nationwide and to launch additional partnerships with hospital systems and major employers in the US.

Investors Frederique Dame and Cathy Friedman from GV are joined by current investors Felicis, Semper Virens, Icon, 25M and Operator Collective, bringing the company’s total funding raised to date to US$40m. 

Frederique Dame, General Partner at GV, said: “Midi has seen meaningful traction since its launch and takes an innovative approach to address an unmet need for nearly half the global population.

“Midi’s world-class executive and advisory team has decades of clinical and healthcare expertise and a vision for personalised, affordable, and accessible midlife care. GV is proud to back Midi as they modernise perimenopause and menopause care for women everywhere.”

Underdiagnosed, undertreated, and underserved

Every day in the US 6,000 women hit menopause, which is defined as starting 12 months after a woman’s last period.

On average, they reach menopause at 51, but perimenopause can occur much earlier. This lead-up period, when hormones can fluctuate wildly and symptoms may be at their worst and most unpredictable, lasts four to seven years, although in some cases it can extend as long as a decade.

Symptoms, which may include hot flashes, insomnia, anxiety, depression, brain fog, memory loss and genitourinary problems, have a significant impact on women’s quality of life and career growth.

A recent Mayo Clinic study found that 15 per cent of women cut back on hours or missed work entirely due to their symptoms, costing them about US$1.8bn a year in lost wages.

“It’s clear that menopausal symptoms can derail women’s lives,” said Joanna Strober, Midi Health founder and CEO.

“With far 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.”

To address that gap, Midi Health says it aims to expand its team of clinicians trained in women’s health, with every patient receiving a personalised care plan based on their health history, genetic risk factors, ethnicity, and race.

“Many practitioners lack the training to manage menopausal symptoms and specialists have nine to 12-month waiting lists,” Strober explained. 

“We provide access to some the most skilled professionals in female health.”

The company has announced a partnership with fertility benefits leader Progyny. Current employer clients include Stanford University and ServiceNow, and agreements are in place with healthcare systems clients such as Lifepoint Health.