Menopause start-up raises US$3.3m to expand digital health platform

The US menopause start-up Elektra Health has raised US$3.3m in new financing to expand its digital health platform.

Elektra Health, a telemedicine platform offering education and one-to-one support, aims to help women understand and manage their menopause symptoms.

Today, 50 million women are currently navigating menopause in the US. However, around 20 per cent of OB/GYN residency programmes offer menopause training, resulting in a care gap.

Research underscores the connection between menopause and the risk and prevalence of chronic conditions such as heart disease, hypertension and osteoporosis, among others.

Elektra’s Actuarial Study (2023) revealed that women diagnosed with menopause incur significantly increased healthcare spend (45 per cent), and often suffer poorer outcomes.

The company’s menopause care model aims to combine telemedicine care with one-to-one support from health experts to help women better navigate menopause.

“Elektra Health’s three core pillars – education, care, and community – lay the foundation for women to not only understand menopause, but to also take actionable steps to optimise their long-term health and wellness,” said Alessandra Henderson, co-founder and CEO of Elektra Health.

The funding round, led by UPMC Enterprises with participation from Wavemaker 360 and existing investors Flare Capital Partners and Seven Seven Six Fund, brings the total amount of equity finance raised to US$7.6m.

The capital will be used to expand Elektra’s care delivery platform across payers, self-insured employers and new markets.

Jannine Versi, co-founder and COO at Elektra Health, said: “We’re thrilled to have UPMC joining as lead investor for this round.

“They are exemplary in their dedication to holistic care for women across the lifespan, including menopause and the intersecting health needs of an aging population that has been wildly underserved to date.”

Kathryn Heffernan, senior director of strategic product management at UPMC Enterprises, added: “UPMC is interested in investing in solutions that focus on empowering women and Elektra proved to have all the elements UPMC values in this space: evidence-based education and care that prioritises women’s health needs and drives outcomes.

“The goal of the Elektra platform is to fill a gap and provide innovative opportunities to strengthen the doctor-patient relationship as women move through the menopause transition.”