Digital health platform secures £37m funding to support “massive” US expansion

Peppy, a London based, personalised digital health platform that “pioneered” free-for-employee health support in Europe, has secured funding for a “massive” US expansion.

The $45m (approx. £37m) Series B was led by AlbionVC, and joined by Kathaka, MTech Capital, Simplyhealth and Sony Innovation Fund. Previous investors Felix Capital, Hambro Perks, Outward VC and Seedcamp also participated.

Through live chat and virtual consultations, Peppy gives users unlimited access to expert healthcare providers who specialise in the conditions and life stages that threaten their health and undermine their quality of life. The service is entirely free to the user via their employer.

Peppy’s story began in 2018, when it launched menopause support as an employee benefit, this was a world first. The service was a fast hit, and Peppy quickly became a world-leader in a multi-billion dollar industry.

In 2021, the global menopause market reached a valuation of $15.4bn (approx. £12.7bn), and it’s expected to continue growing at five percent annually through 2030. Of that growth, no market represents a bigger opportunity than the US, where approximately 6,000 women reach menopause every day.

Thanks to Peppy’s recent funding, many of them will soon have access to revolutionary, one-on-one support that they simply cannot access through traditional providers.

This funding, and the US expansion it enables, marks a “tipping point” for gender-based personalised healthcare. It secures Peppy’s “market-leading” position and allows it to reach millions of additional employees in industries as far-reaching as finance, tech, legal, pharma, FMCG, and more.

Dr Mridula Pore, co-founder and co-CEO of Peppy, commented: “We’re on a mission to become a household name across the world and our Series B funding is just the start. We already dominate Europe’s employer-funded gender-based healthcare market.

“With our growing team in the US and numerous big brands already choosing Peppy, we will soon be a leading player in America.”

Peppy has seen 1,000 per cent growth since its Series A investment in July 2021 and is trusted by over 250 enterprise businesses, including Accenture, Adobe, Canada Life, Disney, and Marsh McLennan.

By Matthew Neville – Senior Correspondent, Bdaily

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