- London-based Peppy raised a $45m Series B round from AlbionVC.
- The startup offers personalized consultations for gender-related health issues as a social benefit.
- Check out the 9-slide deck used to raise the cool funds.
London-based Peppy has raised $45m Series B from AlbionVC to bring its benefits platform to the United States.
Founded in 2018, the digital health startup offers personalized care to employees through its integrated consultations and resources, especially for “life stages that can be disruptive, from menopause to baby care,” said the co-founder. and CEO Mridula Pore.
It focuses on gender-related health issues, such as menopause, fertility, parenthood, and men’s health, which have been largely underserved due to certain taboos attached to these conditions. It also made patients reluctant to seek help for them, Pore said.
But the advent of virtual platforms such as Peppy has made it easier for users to approach healthcare providers, as they can maintain a degree of privacy and comfort from their homes.
Peppy’s app offers live chats and one-on-one consultations with specialists, so users can get personalized advice in real time. It also has a library of content on gender-based health conditions, as well as weekly virtual events and community group chats so users can share their experiences with each other.
The startup recruits clinical directors who can provide insightful insights into each condition, who then work to recruit more specialists to the platform.
As a B2B employee benefits service, Peppy is funded by employers and free at the point of use for employees. The pandemic was a pivotal time for the startup as it exposed the pitfalls of a “one size fits all” approach to healthcare that had previously been the norm and encouraged employers to take initiatives to expand healthcare benefits. of their employees.
Peppy has now partnered with some of the UK’s biggest health insurers, such as Axa Health and Vitality.
Although he started out focusing on menopause and baby care, Pore saw an increase in appeal for underserved conditions such as endometriosis and polycystic ovary syndrome (PCOS), and decided to expand Peppy’s services to fill this gap in the healthcare market.
“It came from our understanding of the extent of these issues,” she said.
The startup has partnered with companies like Disney, Accenture, and Adobe, and it will now expand to the United States, where it sees greater demand for its services.
The Series B round was led by London-based venture capital firm AlbionVC, which previously backed digital health startups Healios and Oviva, with participation from Kathaka, MTech Capital, Simplyhealth and Sony Innovation Fund. Existing investors Felix Capital, Hambro Perks, Outward VC and Seedcamp also participated in the round.
With the new funds, Peppy will expand into the US and continue to develop its product in the UK.
Check out the 9 slide deck used to raise the cool funds.