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 additional capital to develop its Stella app in the United States and fund clinical trials.
The London-based company focuses on women’s health and improving the collection and use of women’s health data.
Octopus Ventures led the funding round, with participation from Optum Ventures and existing investors.
Last year, Vira Health launched its first product: a subscription app called Stella in the UK. Stella helps women going through menopause with personalized treatments based on their symptoms.
It also provides access to menopause experts, guided meditation, educational materials, exercises, recipes, and online courses.
“Better menopause care is crucial in the fight for gender equity in the workplace. The Stella app provides women with a highly personalized, 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 wishing to expand their benefit plans. Our goal is to onboard more employers to Stella this year.
A study by Vodafone in five countries found that 60% of women with menopausal symptoms said it had impacted their work.
In the UK, 30% of women were found to miss work due to symptoms, 11% refused a promotion and 8% quit their jobs due to menopausal symptoms. In 2022, Vira Health wants to be included in company benefits.
“Menopause is a huge but underserved and underfunded market. 1 billion women, or approximately 12% of the world’s population, are expected to experience menopause by 2025, and we are delighted to be working with the team at Vira Health,” 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 the US as a £70 per year subscription and through the US-based global benefits platform, BenefitHub.
Competitors include London-based Bia Care and M-Powder.