The news: Women’s healthcare telehealth company Midi Health topped $1 billion in valuation after it raised another $100 million in venture funding. Midi joins telehealth provider Maven Clinic, along with fertility clinic Kindbody, and digital app Flo Health, among the women’s health companies valued at more than $1 billion since 2020.

Why it matters: Women drive healthcare consumption, making women’s healthcare an increasingly attractive investment and service category.

• Women spent almost $40 billion on out-of-pocket healthcare costs— about $8.8 billion more than men—and an average 30% more on prescription drugs than men in 2024, per a GoodRx report in March.
• Yet investment in women’s healthcare still lags. Venture funding for women’s health startups in the US and Europe reached $2.6 billion in 2024, up 55% YoY, but accounted for just 6% of all private healthcare investment, according to a World Economic Forum report in January.
• Telehealth companies in particular are expanding offerings around menopause, fertility, and healthy aging to meet rising demand.

Implications for pharma and telehealth companies: Midi’s growth signals that women are no longer waiting for the broader healthcare system to catch up. They’re already curating their own multifaceted ecosystems of healthcare information and expertise to bridge gaps in traditional services. For legacy pharma and telehealth players, reaching this audience requires more than just access. It requires providing the kind of focused medical attention and sincere engagement that relieves women of the burden of managing their own healthcare workarounds.