Paris-based Essence, an app that improves the efficiency of female employees by organizing their schedule based on menstrual health, and hormone cycle, oversubscribed the angel round and closed it out at over €600K.
The Berkeley SkyDeck Fund, Davidovs VC, Growing Well Partners, along with well-known angel investors Eugenia Dunaeva, Ksenia Kapoor, Jana Gashkova, Elena Enache, Elena Zhigalina, and Konstantin Siniushin, spearheaded the round, predominantly comprising female investors. The money will go into improving the Essence App, bringing in new users, and investigating the relationship between the menstrual cycle and productivity.
Menstrual Health Workplace Solutions
According to a UK study, over two-thirds of women report having a negative work experience as a result of their periods, and over 90% of women and persons with cycles experience discomfort connected to their cycles, which lowers their performance and quality of life at work. Because society and workplaces stigmatize menstruation, it remains largely unspoken.
The Essence App optimizes schedules, exercise regimens, and diets based on each stage of the hormone cycle, utilizing science and AI to improve the performance and well-being of women in the workforce by up to 33%. Essence seeks to assist businesses in attracting and retaining diverse talent while promoting inclusive workplaces by transforming corporate culture and providing tailored expert solutions.
Testimonials and Vision
Elina Vale, co-founder and CEO of the Essence App stated:
“Femtech is a highly undervalued and impact-oriented market and half of the world’s population are potential users. Menstrual health is a missing puzzle piece in improving women’s well-being. Cycle-related symptoms are still a real struggle for hundreds of millions. The Essence App offers a valuable digital tool for companies, helping businesses adjust their work environments and provide tailored support to those who need it.”
The Essence App’s goal is to enable half of the global workforce by assisting businesses in establishing more fair work environments and offering women and menstruating individuals specialized support. Investors, particularly female investors who are enthusiastic about collaborating to support working women and providing inclusive healthcare solutions, have endorsed their strategy.
Related Content: Menopause Treatment – Domma Secures €950k for Digital Support
Stakeholder
Rosana Rabines, impact investor and managing partner of global family office GWP Impact said:
“We are thrilled to be working with a team that brings world-class expertise, a responsible, data-driven approach, and relentless energy to address menstrual well-being.”
Marina Davidova, managing partner at Davidovs VC believes that helping women thrive in the workplace is not only a worthy mission but also a great way to increase overall productivity in companies. “Redistributing workload around the cycle helps women align work with their well-being and truly be the better versions of themselves both at work and in life.”
Caroline Winnett, executive director of Berkeley SkyDeck stated:
“It’s about time someone developed a technology to optimize women’s work productivity based on their cycles. SkyDeck chose Essence for our program because we knew that they were the startup that would relentlessly devote themselves to building this much-needed platform”.
Eugenia Dunaeva, angel investor and former partnerships lead at Meta and Expedia Group, sees Essence as a transformative force. “With a subscription-based B2B approach, Essence is poised to achieve an impressive ARR both in the US and EMEA, spearheading a transformative change in this space.”
Essence advisor and angel investor Ksenia Kapoor, who has more than 10 years of experience in the US employee benefits market, emphasizes the importance of creating an equitable work environment. “Today we often talk about equality for women in the workplace, but that’s not enough. The Essence App is an actionable step towards creating a support system to help women get closer to where they want to be in terms of well-being.”
Konstantin Siniushin, angel investor and Managing Partner of Untitled Ventures notes the ripe opportunity to make a positive impact. “I am happy to invest in the Essence App because, for me, it is not only an opportunity to enter a market that is still at the beginning of its wave but also to incentivize a strong team to make this world better by removing the stigma of menstruation in the business environment.”
Empowering Workplace Well-being
Menstrual health is the new mental health in the workplace, according to Essence. Essence foresee a parallel transition, already apparent in places such as Spain and the UK, wherein menstruation health is acknowledged as a critical component of overall well-being, akin to the importance of mental health.
In the FemTech industry, the Essence App stands apart thanks to its B2B subscription model. Essence is now working with progressive businesses dedicated to giving people with cycles at work more influence. In the following eighteen months, the platform wants to reach a $1 million ARR.
About the Essence App
The Essence App is an AI and science-based tool dedicated to making the lives of people with cycles happier and more productive. With a mission to close the well-being gender gap in the workplace and reduce burnout and churn rates, Essence provides expert recommendations tailored to the cycle and empowers individuals to navigate their workdays with confidence. The platform is for anyone, regardless of gender, seeking to expand their knowledge of how menstrual cycles impact mental and physical health.
