Digital health company Vira Health has secured $12m (£9.2m) in a funding round to add new services, such as telehealth and prescriptions, to its menopause app.
Vira Health, founded in 2020 by Andrea Berchowitz and Dr Rebecca Love, will also use the extra capital to grow its app Stella in the US and to fund clinical trials.
The London-based company focuses on women’s health and improving the collection and use of female data in healthcare.
Octopus Ventures led the funding round, with participation from Optum Ventures and existing investors.
Last year, Vira Health launched its first product: a subscription-based app called Stella in the UK. Stella helps women who are going through the menopause with personalised treatments based on their symptoms.
It also provides access to menopause experts, guided meditation, educational materials, exercises, recipes and online classes.
“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,” said Andrea Berchowitz, co-founder and CEO of Vira Health.
Berchowitz added: “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.”
A study by Vodafone across five countries found that 60% of women with menopausal symptoms said it impacted their work.
In the UK it was found that 30% of women missed work due to symptoms, 11% declined a promotion and 8% resigned from their jobs due to menopausal symptoms. In 2022 Vira Health wants to be included in businesses’ employee benefits.
“Menopause is an enormous yet underserved and underfunded market. 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,” said Kamran Adle, health investor at Octopus Ventures.
Vira Health raised £1.5m in a funding round last July with investors including LocalGlobe, MMC and Amino Collective.
Vira Health is available in the UK, Ireland and US as a £70 per year subscription and through the US-based global benefits platform, BenefitHub.