Midi Launches Digital Platform Focusing on Women’s Health Needs Often Neglected by Mainstream Healthcare
The Unseen Needs of Women in Midlife
Perimenopause and menopause are often overlooked areas of women’s health. These life stages can bring about a wide range of symptoms, from hot flashes to mood swings, that can significantly impact daily life. However, many women struggle to find providers who understand these conditions and can offer effective treatment.
The Founding Story of Midi Health
Joanna Strober’s personal experience with perimenopause was a catalyst for launching Midi Health. After being diagnosed and treated by multiple providers, she realized that there were few trained professionals to care for this population. This realization sparked an idea – what if a digital platform could connect women with providers who specialize in perimenopause and menopause symptoms?
The Power of Telehealth
Strober credits the pandemic-driven changes in telehealth regulations as the key factor enabling Midi’s launch. "Understanding that this problem had been around for a long time and could finally be addressed using telehealth was a very exciting revelation," she said.
Midi operates differently from other digital health companies, focusing on building long-term relationships between women and providers rather than providing one-off care or treatment. This approach has allowed the company to grow and secure funding even as the broader VC market for digital health startups has cooled.
A $60 Million Series B Round
In April 2024, Midi announced a $60 million Series B round led by Emerson Collective with participation from Google Ventures, SteelSky Ventures, and Muse Capital. This funding brings the company’s total to $99 million. Strober attributes Midi’s success to its focus on building trusted relationships between women and providers.
A Market in Flux
Digital health startups raised a record-breaking $52.7 billion in 2021 but saw significant declines in funding in subsequent years. In 2023, the market dropped to $13.2 billion globally, according to CB Insights data. This trend has led some VC firms to shift their focus away from digital health.
A Unique Approach
Midi’s long-term approach is a departure from many other telehealth companies that prioritize fast and convenient care over sustained relationships. Strober believes that this strategy will continue to drive growth for the company.
Expansion Plans
With its latest funding, Midi aims to expand its services in areas related to perimenopause and menopause, including sexual wellness, hair and skin care, and access to testosterone. The company is also working to understand the diverse health needs
