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Midi is building a digital platform for an oft-overlooked area of women's health | TechCrunch

Midi is building a digital platform for an oft-overlooked area of women's health | TechCrunch

When Joanna Strober was about 47, she stopped sleeping. While sleep loss is a common symptom of perimenopause, she first had to visit multiple providers, including driving 45 minutes from San Francisco, to get a diagnosis and proper treatment.

“That feeling of wow, I've really been suffering needlessly for the past year has really stuck with me,” Strober said on a recent episode. Got the TechCrunch podcast. “I started talking to all my friends and trying to understand what was going on with them and what became clear is that perimenopause and menopause is this big thing. It hits women like a ton of bricks. It has many different symptoms and few providers are trained to care for this population.

That realization inspired Strober to launch Midi Health, a telehealth platform designed to serve women in midlife by connecting them with providers trained in perimenopause and menopause symptoms and treatments. are won

Despite her “aha” moment, Strober explained why she couldn't just start a startup. If the U.S. government hadn't changed its laws regarding telehealth and where people could access care during a pandemic, Midi might not exist, he said. Because of the changes around digital health, Strober said the company was able to launch its platform to provide care to women, unlike women who would have had to find in-person care. Is.

“Realizing that this problem that had been around for so long could finally be solved using telehealth was a very exciting revelation,” Strober said. “And that's why I wanted to start this company.”

Strober said Midi does things a little differently than other digital health companies launched in the post-pandemic wave. She said that Midi is not set up as a digital avenue for consumers to get quick care or treatment like many other companies of the same era, but rather a platform where women Designed to build long-term relationships with Providers that make them feel seen.

This approach is also why Strober believes Midi has been able to grow and continue to grow VC funds as VCs become less interested in the category. The company recently raised a $60 million Series B round led by Emerson Collective with participation from Google Ventures, SteelSky Ventures, and Muse Capital, among others. This round brings the company's total funding to $99 million.

Digital health startups to raise $13.2 billion globally in 2023, according to CB Insights Data. This is a 48 percent decrease from 2022, to $25.5 billion, and a 75 percent decrease from 2021, when a record $52.7 billion was invested.

“I think very few telehealth companies haven't thought about that long-term customer relationship,” Strober said. “We see ourselves as building a trusted healthcare brand. So our brand is expert care for women. We need to give you that amazing care so you come back to us again and again.” That's what women do.”

Midi isn't Strober's first digital health startup and he talked about how his past experience building CarboHealth, a startup focused on childhood obesity before digital health, helped build Midi. I influence his choice. She also talked about how her past life as a venture capitalist also played a role in how she approached the business.

With this latest round of funding, Midi looks forward to expanding care in areas that cover perimenopause and menopause, including things like sexual wellness, hair and skin care and access to testosterone.

“People keep asking, you know, when are you leaving perimenopause and menopause?” Strober said. “But perimenopause and menopause is a huge market. So we're doing a lot of work to understand what women's health needs are at this stage of their lives and how we can best address those concerns.” can get up.

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