Menopause-focused telehealth startup Evernow has scooped up $28.5 million in Sequence A funding.
The spherical was led by NEA, with participation from 8VC, Refactor Capital and Coelius Capital, plus angel traders together with Coloration CEO Othman Laraki, former Morgan Stanley vice chairman Carla Harris, Gwyneth Paltrow, Drew Barrymore, Cameron Diaz and Abby Wambach.
WHAT IT DOES
Evernow gives hormone remedy, just like the estradiol patch or capsule, and paroxetine, an SSRI that can be utilized to deal with night time sweats and sizzling flashes. When customers join the service, they’re matched with a clinician who helps construct their therapy plan based mostly on the affected person’s well being historical past.
Medicines are delivered to the sufferers’ houses, and so they can proceed messaging with their suppliers as wanted.
“We have spent a major period of time exploring the ladies’s well being area and had been shocked at how little consideration has been centered on the menopause market regardless of its permanence and enormity,” Vanessa Larco, associate at NEA, mentioned in a press release.
“Once we first met Evernow, we had been impressed by the caliber of experience on the crew, their early traction, and their tech-enabled and science-based strategy to therapy, assets, and communication. We’re thrilled to associate with Evernow to gas a brand new period of prioritizing girls’s well being.”
The startup mentioned it can use the funding for hiring, constructing its member neighborhood and utilizing the info it has collected for brand new product improvement.
MARKET SNAPSHOT
Although funding is rising for ladies’s well being startups – reproductive and maternal well being was one among Rock Well being’s higher-funded medical areas within the first quarter this 12 months – it nonetheless makes up a small portion of total digital well being funding.
Although many instruments deal with menstruation, being pregnant and fertility, corporations are beginning to shift to different areas, together with menopause, based on a report by Frost & Sullivan.
Different corporations that provide digital menopause care embrace London-based worker well being platform Peppy, Gennev (previously Genneve) and direct-to-consumer digital care firm Ro via its Rory model.
