London investment firm raises $12m for female health firm
Vira Health, the company behind menopause app, Stella, has announced $12m in new funding to continue their mission of improving women’s long-term health.
The latest financing builds on a previous $2m funding round that drew investment from LocalGlobe, MMC, Amino Collective, among others. The new investment will support growth of the Stella app in the US market, clinical trials and the addition of medication and telemedicine.
Andrea Berchowitz, co-founder & chief executive officer of Vira Health, said: “Better menopause care is crucial in the fight for gender equity in the workplace.
“The Stella app offers women a highly personalised, completely private and always-on treatment option. It is designed for a diversity of companies wanting to expand their employee benefit schemes. Our focus is onboarding more employers to Stella this year.”
Stella is the first digital therapy product from Vira Health and was launched in the UK in 2021. It supports women by offering personalised menopause treatment plans based on their specific symptoms.
Stella combines complex guidance around lifestyle and behaviour change into simple, easy-to-follow weekly lessons. It offers the ability to interact with trained experts and a range of additional resources, including guided meditations, educational materials, exercises, recipes, and online classes.
Kamran Adle, health investor at Octopus Ventures said: “Menopause is an enormous yet underserved and underfunded market. One billion women, or approximately 12 per cent of the global population, are expected to experience menopause by 2025, and we’re excited to work with the Vira Health team.”
Menopause is increasingly becoming something companies care about. A study by Vodafone across five countries found that 60 per cent of women dealing with menopausal symptoms said it impacted their work.
In a UK study, 30 per cent of women said they missed work due to their symptoms, while 11 per cent passed up a promotion opportunity and 8 per cent resigned from their positions because of menopausal symptoms. Data shows that 75 percent of women who completed their Stella treatment plans experienced improved symptoms.
Julia Hawkins, General Partner at LocalGlobe and Latitude, said, “We are pleased to invest in Vira Health. There is a strong interest in menopause care right now and this is a phenomenal team committed to building what women want and need.”
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