Elektra Well being, a digital well being firm for girls going by way of menopause, has secured $3.3 million in prolonged seed funding, which it’ll use to increase its care to extra sufferers, it introduced Wednesday.
New York Metropolis-based Elektra Well being, based in 2019, gives digital medical look after menopause in New York, Connecticut and Florida (and shortly Massachusetts and Pennsylvania). This medical care features a personalised care plan, labs, prescriptions and digital visits with a care workforce. Throughout all 50 states, the corporate additionally gives instructional content material, messaging with a menopause information, a customized wellness plan and group assist. Elektra Well being works with well being plans, together with Mass Basic Brigham Well being Plan and EmblemHealth. The corporate additionally works straight with some employers and gives a money pay possibility for customers.
“The healthcare system as we speak privileges the reproductive window and actually something associated to household constructing and maternal well being. … I absolutely agree that we’d like significantly better care and assist for the maternal well being journey, however it mustn’t come on the exclusion of how we care for girls in order that they will dwell in good well being and have good high quality outcomes for these years that observe that menopause transition,” stated Jannine Versi, co-founder and COO of the corporate, in an interview.
The $3.3 million in funding was led by UPMC Enterprises, the enterprise capital arm of UPMC. Wavemaker 360, Flare Capital Companions and Seven Seven Six Fund additionally participated within the funding spherical. In complete, the corporate has raised $7.6 million.
UPMC selected to spend money on Elektra Well being due to its purpose to fill an unmet want in ladies’s well being.
“UPMC is desirous about investing in options that target empowering ladies and Elektra proved to have all the weather UPMC values on this house: evidence-based training and care that prioritizes ladies’s well being wants and drives outcomes,” stated Kathryn Heffernan, senior director of strategic product administration at UPMC Enterprises, in a press release. “The purpose of the Elektra platform is to fill a spot and supply revolutionary alternatives to strengthen the doctor-patient relationship as ladies transfer by way of the menopause transition.”
With the financing, Elektra Well being is concentrated on two areas: partnering with extra payers and increasing its footprint to offer medical care to extra sufferers, Versi stated. The corporate can be rising its workforce.
Nearly each girl will undergo menopause, however solely 20% of OB/GYN residency applications within the U.S. present menopause coaching. Girls experiencing menopause face a variety of signs, together with scorching flashes, bother sleeping, mind fog and temper modifications. As well as, current analysis from Mayo Clinic exhibits that menopause prices $1.8 billion in misplaced work time per 12 months.
However menopause care has been gaining extra traction lately. Recognizing the necessity amongst feminine staff, increasingly more employers need to supply menopause assist. A number of different digital suppliers are additionally within the house and are devoted to menopause remedy, together with Evernow, Gennev and Midi Well being. And there’s a rising recognition that ladies’s well being just isn’t a “monolith,” Versi stated.
“As with each different a part of healthcare, we are able to’t kind of lump collectively the healthcare providers and desires of fifty% of the inhabitants and name it a day,” Versi declared. “I feel this funding represents a sophistication available in the market because it pertains to traders and stakeholders who take into consideration ladies’s well being over the lifespan.”
Picture: :Peter Dazeley, Getty Photographs
Supply hyperlink
