Women in Tech Come Together to Fund Midi Health

IntentTech Insights Staff Writer |
September, 2024

Top Women Leaders and Icons Join Forces to Fuel Midi Health’s $63M Series B Round

In a groundbreaking move, a powerhouse group of women leaders and icons from various industries has invested in Midi Health, the rapidly expanding virtual care clinic catering to women aged 35 and above. This esteemed group, comprising influential figures from entertainment, professional sports, media, beauty and fashion, health and wellness, technology, and business, has contributed $5 million to Midi’s oversubscribed $63 million Series B round through a Special Purpose Vehicle (SPV) formed and managed by Operator Collective, a Midi investor.

Why is the Midi Health Funding in the News?

Nearly 30% of the female population in the United States is over 35, and 75 million women are currently perimenopausal, menopausal, or postmenopausal. While women generally live longer than men, they spend on average 25% more of their lives in poor health. This health disparity is even more pronounced for women of color and those from lower socioeconomic backgrounds.

“This is truly an example of women investing in companies such as Midi that they want and believe need to exist in the world, putting their own money behind their belief in our goal of closing the care gap for perimenopause, menopause and beyond,” said Midi Health CEO and Co-Founder Joanna Strober.

Joanna added, “It’s exciting to see women of such a wide array of fields and ages at the top of their game coming together to help build solutions in the marketplace that will effect change for other women.”

At the time of this announcement, Mallun Yen, Founder and Managing Partner of Operator Collective said – “As an early seed investor in Midi, we’ve been waiting for the right moment to spearhead this SPV. We intentionally convened leaders across major industries that are outside the typical circles of venture capital. By design, it reflects our unique collective venture model in action. There’s power in investing beyond just a brand endorsement, and we’re proud to have created an access point that enables these leaders to be directly involved in Midi’s future growth.”

Midi’s Impact on the Digital HealthTech Ecosystem

Midi is the leading digital health company focused on providing care for women in midlife and covered by insurance in all 50 states. More than 85% of women will experience symptoms that can negatively impact their quality of life and longevity, which can last more than a third of a woman’s life, beginning as early as mid-30s. Given 80% of OBGYNs have no meaningful training in this area and there is a general practitioner shortage in the US, the vast majority of women suffering do not receive any treatment for their symptoms. Midi is working to change that.

This strategic investment marks a significant milestone for Midi Health, which has already garnered support from a diverse range of investors, including Emerson Collective, GV (Google Ventures), Memorial Hermann Health System, SemperVirens, Felicis, Icon Ventures, Black Angel Group, Gingerbread Capital, Ingeborg Investments, G9, and Operator Collective. The influx of capital from these visionary women leaders will further accelerate Midi Health’s mission to revolutionize women’s healthcare through innovative virtual care solutions.

What Participation of High-profile Women Investors Mean to Midi Health’s Growth

The participation of these high-profile women investors underscores the growing recognition of Midi Health’s transformative impact on the healthcare landscape. By leveraging their collective expertise and influence, Midi Health is poised to continue its rapid growth and expansion, ultimately improving the lives of women worldwide.

Midi investors understand the massive unmet needs in the $600 billion women’s health market today and the power of strong women leaders coming together to invest in companies that need to exist while also expanding wealth creation and generating financial returns.

The Definitive Guide to Industrial Agents

Among the new investors are leaders within their respective fields including actors/producers Amy Schumer, and Connie Britton, Phenomenal Media’s Meena Harris, soccer star Brandi Chastain, fashion designer/entrepreneur Tory Burch, investor and Angel City FC co-founder Kara Nortman, Sandberg Bernthal Venture Partners, the venture fund run by former Meta COO Sheryl Sandberg and her husband, Tom Bernthal, Waymo Co-CEO Tekedra Mawakana, PagerDuty CEO Jennifer Tejada, Stripe executive Claire Hughes Johnson, and Toast CFO Elena Gomez.

Top executives from OpenAI, Atlassian, Databricks, Cloudflare, Google, Apple, Amazon, Meta, Life360, Calm, Universal Music Group, and Warner Media also joined the round. In total, 80 investors participated with individual check sizes ranging from $10K – $500K+.

Reflecting Midi’s focus on this demographic and the importance of culturally responsive care, the investor group includes women aged 35 to 60+ and 40 percent of people of color.

“Just like you, I have noticed a clear gap in companies that prioritize the needs of women and address the challenges they face when seeking healthcare. Midi is breaking new ground for women 35+ as their healthcare needs evolve,” said Amy Schumer.

Amy added, “The SPV investment opportunity was a unique way for leaders across different industries to come together to ensure women’s health remains at the forefront of innovation, rather than as an afterthought as it has for so long. It’s important to invest in companies that impact us personally and be a force for change for women everywhere.”

Source: Midi Health