Peppy, a startup that invented gender-based healthcare as an employee benefit, has just received $45 million in new capital to support its international growth. The UK-based startup is assisting in bridging the gender health gap and enabling businesses to provide their personnel with the care they require during pivotal lifetimes.
Albion VC led the $45 million Series B funding round, including Kathaka, MTech Capital, Simplyhealth, and Sony Innovation Fund. Participants included previous investors Felix Capital, Hambro Perks, Outward VC, and Seedcamp.
Every person’s access to healthcare affects every aspect of their daily lives, everywhere in the world. As they say, our health is our wealth, and maintaining it often requires extra help as we navigate life. Regardless of gender, country, or economic background, everyone should have access to high-quality healthcare, but all too frequently this is not the case.
Employers are increasingly seeking for solutions to meet the demands of employees as healthcare systems are put under more strain and costs start to rise. It’s a part of an international HR trend to better recruit and keep exceptional employees. As a result, a growing number of businesses are providing healthcare as an employee perk.
Peppy, a pioneer in this field, provides a cutting-edge platform for advantages depending on gender. Menopause is something that every woman experiences, but up until Peppy, there wasn’t much to help women negotiate this stage of life while juggling work. This is where it all began. The firm has recently received new investment and has now broadened its focus to cover family and reproductive health for both men and women.
We’re on a quest to become a household name all over the world, and our Series B fundraising is just the start, according to Dr. Mridula Pore, Co-Founder, and Co-CEO of Peppy. We currently control the market for gender-based healthcare provided by employers in Europe. We will soon be a major player in America thanks to our expanding team there and the large number of major brands who have already chosen Peppy.
Peppy, a company founded in 2018 by Evan Harris, Max Landry, and Mridula Pore, enables companies to give their employees professional support during significant life transitions. The program, which was developed in London, debuts with menopause assistance as an employee perk, a first for the globe at the time.
Peppy allows consumers unlimited access to qualified healthcare professionals that specialize in the illnesses and life stages that jeopardize their health and lower their quality of life through live chat and virtual consultations.
Completely free to the user, through their employer, the service has quickly become a global leader in a multi-billion dollar industry and has expanded into broader family and reproductive health, including support for those trying to start a family, becoming parents, and reproductive health issues like PCOS and endometriosis, as well as a first-of-its-kind men’s health service.
Dr. Mridula Pore: “In the past few years, employers have begun to recognize the critical value of individualized care. They are aware that it is essential to lure, entice, and keep the best employees, especially female ones. We are a young, crazily ambitious firm, and we are beyond thrilled to carry out our purpose in the largest healthcare sector on earth.
The global menopause market was valued at $15.4 billion in 2021, and through 2030, it is anticipated to expand by 5% yearly. A third of the female population in the UK, or around 13 million individuals, is currently peri- or menopausal, and every day, about 6,000 women in the US go through menopause.
With this additional capital, the firm is now preparing to grow and enter the lucrative US market. One in ten women in the US is thought to have a reproductive health ailment, such as endometriosis or PCOS. Peppy seeks to offer its ground-breaking service to those who do not currently have democratized access to healthcare.
“Over the three years we have known the firm, the Peppy team has executed above our expectations, giving us confidence that Peppy will go on to be the global category leader in offering individualized expert-led pre-clinical care to everybody,” says Jay Wilson, investment director at AlbionVC.
“The velocity of consumer acceptance demonstrates the breadth of market need, and Peppy has now solidified itself as the European category leader,” Jay Wilson continued. We are thrilled to be teaming up with Peppy and are especially excited about the early proof points from customers and partners in the US.
The investment highlights the relevance of gender-based tailored healthcare in society and represents a turning point. Additionally, it maintains Peppy’s market-leading position and enables it to connect with millions more workers across a variety of sectors, including FMCG, pharma, legal, tech, finance, and more.
Over 250 enterprise companies currently trust Peppy, including Accenture, Adobe, Canada Life, Disney, and Marsh McLennan. It has undoubtedly expanded quickly after the €8.8 million raise in 2021.
“Peppy’s remarkable expansion in Europe highlights the enormous market demand for a digital provider focused on women’s health, in particular menopause,” stated Brian McLoughlin, Partner and Co-Founder of MTech.”
Brian McLoughlin went on to say: “With its blend of digital convenience and tailored guidance from knowledgeable, specialized healthcare professionals, Peppy’s business model is appealing. Women in the workforce in the US confront similar difficulties as those in Europe, and the market is essentially untapped. As Peppy expands its offering to US organizations, we are genuinely thrilled to be investing in the company.
Image Credit: Peppy
