VC firms launch femtech virtual care start-up for menopause support

The US venture capital firms Northwell Holdings and Ageis Ventures have signed an agreement to launch a femtech virtual care start-up to support women going through menopause.

Upliv will partner with employers to offer virtual telemedicine services and care to employees experiencing perimenopause and menopause symptoms.

Initially, the start-up will offer services to select nurses through a pilot programme at Northwell Health, followed by an expected enterprise-wide rollout in the first quarter of 2023.

Upliv, the joint creation of Aegis Ventures and Northwell Holdings, aims to address gaps in healthcare for menopausal and perimenopausal women and is projected to raise US$8.4m in seed funding through 2023.

“Many women going through menopause are not getting the care they deserve,” said Allison Schoeneck, Upliv’s CEO.

“The symptoms of perimenopause and menopause can range from moderate to debilitating. Too often, those symptoms are dismissed.

“But menopause can disrupt our daily lives and has serious implications for our health. Through Upliv, we are providing evidence-based treatments and whole-person support to help women manage their health.”

In a survey of 900 Northwell Health employees, a majority of respondents reported experiencing moderate to severe symptoms, including hot flashes, weight gain, sleep issues, fatigue, brain fog, and muscle aches.

Dr Stacey E. Rosen, senior VP of the Katz Institute for Women’s Health at Northwell Health, said: “Today there are safe, effective, and science-backed medications and non-pharmacologic treatments to manage the symptoms of menopause. However, many women still struggle to access this care.

“By leveraging virtual care solutions, we can create access to specialised medical professionals, so women can receive the necessary support to explore treatment options.”

Upliv wants to equip women with clinical tools and guidance to make informed decisions about their health by giving them access to video consults, prescription and treatment paths, online resources and online communities.

The aim, the company says, is to provide care to address the specific needs of women in mid-life and to empower them to lead healthier lives.

Care will be informed by the North American Menopause Society (NAMS) guidelines and patients will receive medical and wellness services from menopause-trained doctors, nurse practitioners, and wellness coaches. The services will also cover issues such as bone health, cognitive health, urogynecology and cardiology.

Data shows one in four women experiencing symptoms of menopause explores retiring early. Healthcare expenses related to just hot flashes and night sweats can cost US$2,000 per year.

Gregg Nevola, VP and chief of total well-being at Northwell Health, said: “Making this important healthcare benefit available to our team members throughout their experience with menopause supports our belief in addressing unmet needs and providing access to evidenced-based care.

Upliv will be offered as an employee benefit at zero cost to employees.