Transforming Midlife Care: Why We're Leading Midi Health's Series C

You're 47 years old and in the middle of a successful professional career. Suddenly you find that you are unable to sleep through the night. Your joints ache in ways that they never have before. You're experiencing brain fog that makes it hard to focus during important meetings or even during dinner with your family. Your doctor runs some tests, says, “everything looks normal," and suggests that you try getting more exercise (or better yet – more sleep).

If you're one of the 75 million US women between the ages of 35 and 65, there's an 80% chance that you'll face some version of this scenario during perimenopause or menopause. What's more frustrating is that despite affecting nearly every woman in America, our healthcare system has consistently treated this decade-long transition as an afterthought.

This is the reality that drove Joanna Strober to build Midi Health – and it's why we're leading their Series C financing.

When Personal Experience Meets Market Opportunity

Joanna's story isn't unique, but her response to it is. After struggling to find adequate menopause care herself – consulting multiple doctors, facing long wait times, and getting dismissive responses to debilitating symptoms – she did what great entrepreneurs do: she decided to build the solution she needed.

But Joanna isn't just any frustrated patient turned founder. She brings 16 years of private equity and venture investing experience from firms like Bessemer Venture Partners, and has the hard-won wisdom of having built and sold Kurbo Health to WW. When she looked at the midlife women's health market, she saw both the massive unmet demand for high-quality care and the scalable business opportunity.

The numbers tell a stark story. Half of U.S. counties don't have a single practicing OB/GYN. Most OB/GYNs receive zero formal training in menopause care. Women routinely see six or more doctors before finding any relief – if they find it at all. The economic impact is $26 billion annually in workplace attrition, reduced productivity, and mis-guided care.

Building the Care Model That Should Exist

Midi Health represents something we rarely see: a company that is not just addressing an attractive market opportunity but one that is actively redefining what is possible in an entire healthcare vertical. Midi is the first virtual, insurance-covered platform built entirely around women's midlife health.

The approach is comprehensive in ways that traditional healthcare simply can't match. Midi's team of cross-licensed clinicians – now 260+ strong and operating in all 50 states – provides expert, longitudinal care for the full spectrum of perimenopause and menopause symptoms - all managed through evidence-based protocols developed by a world-class clinical leadership team.

What makes this especially compelling is that Midi has solved the access and affordability challenges that typically plague specialty healthcare. The platform is in-network for over 80% of patients, with insurance contracts spanning major national providers like UnitedHealthcare and Cigna. Patients can get same-week virtual visits and receive ongoing care that averages 12 follow-ups over multiple years.

The outcomes speak for themselves: 91% of patients report symptom improvement within two months, with customer satisfaction scores that most healthcare companies can only dream of.

Why This Fits Our Digital Health Thesis

AVP has repeatedly partnered with digital health companies that demonstrated they could meaningfully improve treatment outcomes, reduce care costs, and expand access to underserved populations. This thesis led us to early investments in Curology in telemedical dermatology, Ginger (acquired by Headspace) in behavioral health, and Boulder Care in telehealth addiction treatment.

Midi represents a continuation of this investment approach. The Company addresses all three pillars of our thesis while tackling a market that has been systematically ignored despite its size and urgency.

The Team That Can Execute

Beyond the market opportunity, we're backing a team that combines deep healthcare expertise with proven scaling experience. Joanna has partnered with co-founder and COO Sharon Meers, who brings executive experience from eBay and 17 years at Goldman Sachs. The clinical team blends academic credibility with operational scale and genuine compassion for patients.

In just two years of commercial operations, this team has scaled Midi to significant revenue while maintaining strong unit economics and provider retention. They're actively optimizing everything from scheduling algorithms to AI-powered insurance eligibility checks, demonstrating the operational discipline that separates category leaders.

Building the Default Destination

Midi isn't just filling a gap in the market – the Company is redefining a category. The Company is becoming the default destination for adult women's health care, providing the expert, compassionate and affordable treatment that should have existed all along.

This is exactly the kind of digital health investment we get excited about: a massive unmet need, a purpose-built care model, an experienced team focused on delivering high-quality care, and execution that scales. Most importantly, the Company is not just treating symptoms but transforming how we think about a critical life stage that affects half of the earth’s population.

For too long, perimenopause and menopause have been overlooked, dismissed, or treated as inconveniences rather than as the significant health transitions they are. With Midi, we see a future where this finally changes – where women can affordably access the high-quality care – that they deserve during midlife.

We're proud to lead Midi’s Series C and support Joanna and her team as they build something that matters deeply to millions of women (and their partners, families and employers) across the country.