Amy Schumer, Connie Britton, Brandi Chastain, Meena Harris, Sheryl Sandberg, Tekedra Mawakana, and Tory Burch among the bold name investors committed to Midi’s goal of closing the women’s healthcare gap
LOS ALTOS, Calif., Sept. 19, 2024 /PRNewswire/ — Midi Health, the fastest-growing virtual care clinic for women 35+, today announced that a high-powered group of women leaders and icons spanning entertainment, professional sports, media, beauty and fashion, health and wellness, technology, and business have joined Midi’s oversubscribed $63M Series B round via a $5M Special Purpose Vehicle (SPV), formed and managed by Midi investor Operator Collective. SPV investors are joining other Series B 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.
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. 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.
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. 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 people of color.
“As an early seed investor in Midi, we’ve been waiting for the right moment to spearhead this SPV,” said Mallun Yen, Founder and Managing Partner of Operator Collective. “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.”
“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. “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.”
“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. “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.”
About Operator Collective
Launched in 2019, Operator Collective is the early-stage B2B venture fund and community backed by tech’s most exceptional operator LPs and top-tier institutions. OpCo’s proprietary Collective Venture Model® platform enables portfolio founders to efficiently tap into 200+ active senior operating executives to help build and scale their companies, reach potential enterprise customers, and connect with talent networks for potential executive or board member hires.
About Midi Health
Midi Health is the fastest growing virtual care clinic focused on women navigating midlife hormonal change and beyond. With treatment protocols created by world-class medical experts in perimenopause and menopause, delivered by clinicians trained in women’s midlife health, Midi Health provides patients with personalized care plans that include hormonal and non-hormonal medications, supplements, lifestyle coaching and more. All services are covered by insurance, and conveniently accessible through telehealth visits and 24/7 messaging. To learn more, visit www.joinmidi.com.
Media Contacts:
Aimee Grove for Midi Health
[email protected]; Ph: 415.706.1906
Caroline Caswell for Operator Collective
[email protected]
SOURCE Midi Health
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