Led by Octopus Ventures, with participation from Optum Ventures and existing investors, new funding will allow Vira Health to expand access to its menopause solutions and introduce new services such as telehealth and prescription medications
London, UK (Tuesday 15th March ) – Vira Health, the company behind menopause app, Stella, has announced $12 million in new funding to continue their mission of improving women’s long-term health. The latest financing builds on a previous $2 million 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.
“Better menopause care is crucial in the fight for gender equity in the workplace,” said Andrea Berchowitz, co-founder & chief executive officer of Vira Health, “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.
“Menopause is an enormous yet underserved and underfunded market,” said Kamran Adle, health investor at Octopus Ventures. “1 billion women, or approximately 12% 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% of women dealing with menopausal symptoms said it impacted their work. In a UK study, 30% of women said they missed work due to their symptoms, while 11% passed up a promotion opportunity and 8% 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.”
In 2020, many workplaces showed an increase of menopause support, through writing new menopause policies, nominating ‘menopause champions’ to signpost employees to information and resources, improving the cut and fabric of uniforms, and more. As companies redefine their benefits more broadly in recognition of mental health and caring responsibilities that resulted from COVID-19, menopause is becoming a bigger part of the conversation. Vira Health is focused on making Stella available to more women through employer benefits in 2022.
“Menopause is a time point in a woman’s life where we can fundamentally change the trajectory of lifelong health,” said Dr. Rebecca Love, co-founder of Vira Health. “It is outrageous that we have not focused on menopause care more. Stella provides women the relief and support they need for symptoms such as sleep issues, incontinence, mood swings, hot flushes and many others, and helps set women up for better brain, bone and heart health in later life.”