The healthcare startup world spawned a brand new unicorn this week, as Palo Alto-based digital care supplier Midi Well being closed a $100 million Collection D funding spherical, bringing its valuation to greater than $1 billion.

The spherical, led by Goodwater Capital, introduced Midi’s fundraising complete since its founding in 2021 to $250 million. Different traders taking part within the spherical included Google Ventures, Foresite Capital, Emerson Collective, Serena Ventures, McKesson Ventures, Advance Enterprise Companions and SemperVirens.

Midi presents digital care for girls, specializing in sufferers going by means of perimenopause and menopause. Annually, roughly 2 million girls within the U.S. enter perimenopause, whereas roughly 1.3 million girls attain menopause.

“We’re constructing a digital hospital system with out partitions to empower all girls to entry the very best high quality of insurance-covered care, wherever they’re,” mentioned CEO Joanna Strober.

The platform is designed to make it simple for girls to entry high quality care with out leaping by means of hoops, she added.

Sufferers just about meet with Midi’s medical doctors, who “talk about what is definitely occurring” and provides sufferers a plan with clear steps they’ll act on, Strober explains. She famous that these suppliers observe up with sufferers, modify their therapy and keep related over time.

She says Midi is for sufferers who need a dependable, steady level of care designed across the wants of ladies.

“We began with perimenopause and menopause as a result of it was one of the apparent and uncared for gaps in medication, however what we shortly noticed was girls coming to us for far more,” Strober famous.

Greater than 25,000 individuals obtain care by means of Midi each week and search medical steering from specialists within the fields of gynecology, inside medication, cardiology, endocrinology, weight problems, sleep, temper issues, dermatology and extra. Whereas menopause was Midi’s entry level, the corporate now helps girls throughout a variety of well being wants from early maturity to center age, Strober mentioned, including that Midi has additionally created AgeWell, a personalised longevity program.

As a result of the care mannequin is steady, sufferers are likely to return as their wants change, she identified.

“We additionally supply dietary supplements to help the care we offer, and we companion with employers and healthcare methods to succeed in extra girls. As extra girls use Midi as their common supply of care, the corporate will naturally develop with them,” mentioned Strober.

As a result of Midi works with insurance coverage, care is accessible to girls in all fifty states, far past conventional specialty clinics. This enterprise mannequin can be totally different from most of its rivals. Different corporations on this sector, comparable to Maven Clinic, Carrot Fertility, Kindbody and Progyny, promote largely by means of employers, whereas Midi presents direct-to-consumer, insurance-covered care.

What makes Midi distinctive, based on Strober, is that it was constructed from the bottom up for girls.

“Our mannequin of care shouldn’t be episodic – it’s ongoing, customized and designed to fulfill girls the place they’re, with physicians who actually hear and observe their well being journey over time,” she said.

For traders, Midi’s attraction seems to lie in a mannequin that {couples} a big, underserved market with insurance coverage reimbursement, making a path to scale that appears much less like a distinct segment profit and extra like a sustainable healthcare infrastructure.

Photograph: Sanja Baljkas, Getty Photographs