Palo Alto-based Midi Health has successfully raised $100 million in a Series D funding round, propelling the women’s telehealth company to a valuation exceeding $1 billion. The funding round was led by Goodwater Capital, with significant contributions from new investors Foresite Capital and Serena Ventures. Existing investors, including GV, Emerson Collective, McKesson Ventures, Advance Venture Partners, and Felicis Ventures, also participated in this latest financial boost.
Addressing Women’s Healthcare Gaps
Midi Health was established to tackle persistent gaps in women’s healthcare, particularly as around two million women in the United States enter menopause annually. The company highlights that untreated menopausal symptoms can lead to billions of dollars in medical expenses and lost productivity each year.
“This is validation for the movement we’re leading to provide women with better healthcare,” said Joanna Strober, co-founder and CEO of Midi Health. “Women’s health has been treated like an afterthought for too long. This funding gives us the resources to rewrite that story at scale.”
Utilizing AI for Enhanced Patient Care
Under the leadership of Strober, Midi Health provides accessible, insurance-covered services across all 50 states. The company leverages an AI engine to enhance its offerings in three key areas:
– **Personalising the experience**: AI-driven chart analysis customizes each patient’s care journey, facilitating quicker and more precise diagnoses.
– **Streamlining operations**: Automation enhances efficiency in scheduling, triage, and documentation processes.
– **Improving outcomes**: By analyzing one of the healthcare industry’s largest women’s health datasets, Midi refines clinical protocols and supports ongoing research.
Currently, Midi operates nationwide and collaborates with insurers covering over 45 million women. The platform is utilized by more than 25,000 patients each week, providing coordinated care across various medical specialties, including OB-GYN, internal medicine, cardiology, endocrinology, survivorship, obesity, sleep disorders, mood disorders, and dermatology.
The integration of AI not only aids in clinical decision-making but also personalizes care journeys and alleviates administrative burdens for healthcare providers. Midi’s utilization of extensive datasets contributes to the continual enhancement of care protocols and patient outcomes.
The company reports significant achievements in patient outcomes, noting higher adherence rates for cancer screenings and a reduced overall cost of care compared to similar patient demographics. Additionally, improvements in critical health indicators such as A1c and LDL levels have been documented, underscoring the effectiveness of Midi’s care model.
With this latest funding round, Midi Health is poised to expand its impact on women’s healthcare, aiming to provide comprehensive and proactive solutions that address the unique challenges faced by women throughout their healthcare journeys.
