Midi Health raises $100m Series D at $1bn valuation
Midi now serves 25,000 patients every week.
Midi Health has raised $100 million in a Series D funding round, valuing the women’s telehealth company at more than $1 billion and cementing its status as one of the sector’s newest unicorns.
The round was led by Goodwater Capital, with new backing from Foresite Capital and Serena Ventures, alongside existing investors including GV, Emerson Collective, McKesson Ventures, Felicis Ventures, Advance Venture Partners and SemperVirens.
The funding marks one of the largest recent raises in women’s digital health.
Founded to address gaps in menopause and midlife care, Midi Health has expanded rapidly and is now positioning itself as a broader, AI-enabled healthcare platform supporting women across multiple life stages. The company says the new capital will be used to scale its clinical offering, invest further in technology, and grow its executive team.
“This is validation for the movement we’re leading to provide women better healthcare,” said Joanna Strober, co-founder and chief executive of Midi Health.
“Women’s health has been treated like an afterthought for too long. This funding gives us the resources to rewrite that story at scale.”
From menopause to a wider mandate
Midi launched with a focus on perimenopause and menopause, areas that remain poorly served by traditional healthcare despite affecting millions of women. Around two million women in the US enter menopause each year, and untreated symptoms are estimated to cost $25 billion annually in healthcare spending and lost productivity. Midi argues that addressing these gaps—alongside others across women’s lifespans—represents both a clinical need and a substantial economic opportunity.
The company now offers insurance-covered care in all 50 US states, with coverage reaching more than 45 million women. More than 25,000 patients use the platform each week, according to Midi, accessing care delivered by clinicians across specialties including OB-GYN, internal medicine, cardiology, endocrinology, oncology survivorship, sleep medicine, obesity, dermatology and mental health.
AI as infrastructure, not a headline
Central to Midi’s model is its use of artificial intelligence to support care delivery rather than replace clinicians. The company says its proprietary AI tools are used to analyse patient charts, support clinical decision-making, automate scheduling and documentation, and surface insights from what it describes as one of the largest datasets in women’s health.
Investors say this infrastructure approach was a key factor in the round.
“Goodwater is committed to Midi Health’s long-term mission to fundamentally transform women’s healthcare,” said Eric Kim, co-founder and managing partner at Goodwater Capital.
“Midi’s rise as the fastest-growing women’s health platform in the world is a testament to their entire care team, patient-centric approach, and AI advancements that deliver highly personalized care and scalable growth.”’
Outcomes and cost impact
Midi reports that its care model is delivering measurable improvements. Company data shows a 28 percentage point increase in breast cancer screening adherence among patients, an 11 percentage point increase in colorectal cancer screening, and up to a 13% reduction in total cost of care compared with matched groups. It has also observed reductions in A1c and LDL cholesterol levels within its patient population.
For Serena Williams, managing partner at Serena Ventures, the scale Midi has reached sets it apart.
“When women founders and women customers are heard, entire systems change,” said Serena Williams, managing partner at Serena Ventures.
“We have been following Joanna and the team for years and are impressed by the scale they have achieved. They are delivering care that’s critical for every woman to have access to, in a space that represents billions of dollars of healthcare spend.”
Building for the next phase
Alongside the funding, Midi announced a series of senior hires as it prepares for its next stage of growth. Jason Wheeler joins as chief financial officer, bringing experience from Tesla, Google and Forward. Melissa Waters, formerly of Meta, Lyft and Hims & Hers, has been appointed chief marketing officer, while Matt Cook, previously at Omada Health and Firefly Health, joins as chief commercial officer.
With its $100 million raise and billion-dollar valuation, Midi Health is accelerating its growth from from specialist care into full-scale healthcare platforms—and it’s an evolution that investors are now clearly willing to back.