Total amount raised
$102 Millions
Latest funding date
4/1/2024
Location
Midi Health has successfully raised significant funding through multiple rounds, with its latest being a Series B. The platform specializes in providing virtual care for women's midlife health, addressing a range of conditions from menopause to cancer survivorship.
Keep reading to explore the intricacies of Midi Health's fundraising journey and the investors backing this innovative healthcare platform.
What Is Midi Health?
Founded in 2021, Midi Health is a Los Angeles-based company specializing in virtual care for women's midlife health. The company was established by Joanna Strober and Sharon Meers.
Midi Health offers a range of services, including virtual consultations, prescription services, and personalized care plans. Their focus areas include menopause, perimenopause, weight management, sexual wellness, and cancer survivorship.
With a team of 101-250 employees, Midi Health aims to make midlife care accessible and covered by insurance, leveraging specialized at-home labs and expert protocols.
How Much Funding Has Midi Health Raised?
- Seed Round
- Amount Raised: $14M
- Date: October 2022
- Lead Investors: Felicis, SemperVirens Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and initial operations.
- Series A
- Amount Raised: $25M
- Date: September 2023
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development.
- Series B
- Amount Raised: $63M
- Date: April 2024
- Lead Investors: Emerson Collective
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand insurance coverage, hire and upskill 150 clinicians, diversify service lines, and scale to care for over 1 million women per year by 2029.
Total amount raised: $102M. Current valuation: Not publicly disclosed.
Key Investors
- Emerson Collective
- Details: Emerson Collective is a social change organization founded by Laurene Powell Jobs. It focuses on education, immigration reform, the environment, media, and health.
- Investment Focus Areas: Education, immigration reform, environment, media, health.
- Notable Investments: AltSchool, XQ Institute, The Dream.US.
- Google Ventures (GV)
- Details: GV is the venture capital arm of Alphabet Inc., investing in various sectors including technology, life sciences, and healthcare. It was founded in 2009 and has a diverse portfolio.
- Investment Focus Areas: Technology, life sciences, healthcare, artificial intelligence, robotics.
- Notable Investments: Uber, Slack, Flatiron Health, 23andMe.
- Felicis
- Details: Felicis is a venture capital firm that invests in early-stage companies across various sectors. It was founded by Aydin Senkut in 2006.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Shopify, Fitbit, Plaid.
- SemperVirens Venture Capital
- Details: SemperVirens is a venture capital firm focused on the future of work, healthcare, and financial technology. It aims to invest in companies that improve the way people live and work.
- Investment Focus Areas: Healthcare, workforce technology, financial technology.
- Notable Investments: Ginger, Modern Health, Truepill.
- Icon Ventures
- Details: Icon Ventures is a venture capital firm that invests in early-stage technology companies. It was founded in 2003 and has a strong focus on high-growth sectors.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: FireEye, Palo Alto Networks, Teladoc.
What's Next for Midi Health?
Midi Health stands at the cusp of a significant opportunity, with plans to expand insurance coverage nationwide and hire 150 additional clinicians. The potential market is vast, with over 1.2 billion women expected to be in perimenopause or menopause by 2030. This expansion could position Midi Health to serve over 1 million women annually by 2029, addressing a critical gap in women's healthcare.
Future fundraising appears promising, with the potential for additional investment rounds to support scaling and diversification. The growing focus on women's health and telehealth services aligns well with Midi Health's mission, making it an attractive prospect for investors. However, challenges such as maintaining care quality, navigating regulatory requirements, and competing with other providers will need to be managed carefully.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Midi Health and gather other critical business insights. Sign up for free today and unlock the potential to drive your sales efforts with unparalleled data and insights.
