Alloy, a telehealth company focused on the healthcare needs of women over 40, raised $3.3 million in a seed funding round from venture studio Kairos HQ and PACE Healthcare Capital.
The company plans to use the latest funds to strengthen its telehealth network, build-out staff, and broaden community engagement.
Alloy offers science-based solutions for women suffering from the symptoms of menopause. The company provides:
- A telehealth network of menopause-trained doctors.
- FDA-approved, plant-based prescription solutions.
- A community of women.
The company is currently in beta mode and expects to launch later this year, with plans to expand its evidence-based offerings in 2022.
“We are fiercely dedicated to rewriting the aging narrative for women and making sure they’re informed on all the options available to help them to feel like their best selves,” says Anne Fulenwider, Alloy Co-Founder, Co-CEO, and former longtime Editor-in-Chief of women’s magazine Marie Claire.
Anne Fulenwider added: “Alloy exists because too many women haven’t been able to get the treatment they need. We are here to course-correct post-reproductive healthcare, and we could not be more excited to share this platform with the world.”
According to the company, the world population of menopausal and postmenopausal women is projected to reach 1.2 billion by 2030, with 47 million new entrants each year; and 75% of women who seek treatment for menopausal symptoms leave their physician’s office untreated, while over 80% of gynecologists’ self-report lacking the training to treat these women.
Kairos Co-Founder and Co-CEO Alex Fiance said, “Kairos’ mission is to build businesses that tackle pressing challenges and create commonsense solutions. We are blown away by how difficult the healthcare experience is for women 40+, which is why we have been working alongside Alloy for the last 18 months to create a solution. We are honored to collaborate with Anne, Monica, and Dr. Sharon Malone as they transform the way that millions of women experience aging.”
Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report. Brave Care, a pediatric primary and urgent care medical platform, raised $25 million led by Mednax.