The four-year-old startup has reached a significant milestone: unicorn status. This was achieved based on the principle that women deserve modern, comprehensive care at every stage of life.
With a new $100 million Series D round led by Goodwater Capital, Midi plans to expand beyond menopause and perimenopause into a broader, AI-enabled women’s health platform.
Additional investors include Foresite Capital, Serena Ventures. Continued support included Advance Venture Partners, GV (Google Ventures), Emerson Collective, SemperVirens, McKesson Ventures, and Felicis Ventures.
For a category that has long been underserved and underfunded, Midi’s unicorn valuation represents more than a financial milestone. It signals that women’s healthcare is now recognized as a significant, system-level opportunity.
Midi CEO and co-founder Joanna Strober described the funding round as a vote of confidence in a broader movement, not just the company.
“This is validation for the movement we’re leading to provide women better healthcare,” Strober said, adding that women’s health has been “treated like an afterthought for too long,” and that the new funding will help Midi “rewrite that story at scale.”
This scale is important because the costs of care gaps are substantial. Midi notes that two million U.S. women enter menopause each year. Their untreated symptoms cost an estimated $25 billion annually in medical expenses and lost productivity.
Addressing menopause and other women’s health gaps could add nearly $295 billion to the U.S. economy by 2040.
Move to Lifelong Care
Midi was built to address a major American healthcare issue: women’s health needs change significantly over time, yet care remains fragmented.
The company is setting a clinical standard in perimenopause and menopause care. These are areas where many patients report years of being dismissed, misdiagnosed, or inadequately treated. Now, it’s widening the lens to cover more of what women actually face throughout adulthood.
Women will receive a combination of specialty access with a care model designed to be ongoing, coordinated, and easier to navigate. By providing integrated care, they draw upon expertise across OB-GYN, internal medicine, cardiology, endocrinology, survivorship, obesity, sleep, mood disorders, dermatology, longevity, and naturopathic medicine, among other disciplines.
A National Platform with Insurance Coverage
Telehealth is often criticizied as convenience but lacking depth. Midi aims to build clinical depth first, then expand and scale access.
The company now offers insurance-covered services in all 50 states, with its platform reaching over 45 million women nationwide. Midi reports that more than 25,000 patients use its services each week.
This patient volume creates a feedback loop: more patients generate more data, which enables further learning and protocol refinement. AI plays a key role in this process.
AI designed to Support Clinicians and Reduce Operational Strain
Midi describes its technology as an enabler of quality, not a replacement for clinical judgment. Its proprietary AI engine is focused on three areas:
- Personalizing the patient experience through AI-powered chart analysis that helps tailor a care journey and support faster, more accurate diagnosis and care management.
- Streamlining operations by automating scheduling, triage, and documentation, which often slow clinics and contribute to care team burnout.
- Improving outcomes by analyzing one of the industry’s largest women’s health datasets to support research and continuously refine clinical protocols.
Goodwater’s Eric Kim, co-founder and managing partner, said the firm is backing Midi’s “long-term mission to fundamentally transform women’s healthcare,” calling its growth a result of a patient-centric care team paired with AI advancements that enable personalized care at scale.
Outcomes that Employers and Payers can’t Ignore
The most compelling telehealth companies today don’t just promise better access—they show measurable improvement. Midi shared several outcomes it says have emerged from its model:
- 28 percentage point increase in breast cancer screening adherence
- 11 percentage point increase in colorectal cancer screening adherence
- Up to 13% lower total cost of care, matched to a comparison group
Midi also reports reductions in A1c and LDL levels among its patients, indicating potential long-term benefits for cardiometabolic health beyond immediate symptom relief.
Serena Williams, managing partner at Serena Ventures, emphasized the broader significance: “When women founders and women customers are heard, entire systems change,” she said, pointing to Midi’s scale and the size of women’s healthcare spend.
New Executives to Help Drive the Next Growth Phase
To support its growth, Midi is strengthening its leadership team with three key appointments:
- Jason Wheeler, CFO, with prior executive leadership experience at Tesla, Google, and Forward
- Melissa Waters, CMO, formerly an executive at Meta, Lyft, and Hims & Hers
- Matt Cook, Chief Commercial Officer, with healthtech leadership experience including Omada Health and Firefly Health
The Importance of this Milestone
Midi’s emergence as a major telehealth provider comes as women’s health becomes central to innovation, outcomes measurement, and large-scale healthcare delivery.
As Midi maintains its clinical standards while expanding, it will help define modern healthcare for half the population.
The $1 billion valuation reflects not just growth, but a shift in healthcare priorities as the system responds to data, economics, and patient demand.
