Alloy, a new telehealth company addressing the healthcare needs of women over 40, has announced $3M in seed funding raised from venture studio Kairos HQ and PACE Healthcare Capital, as it prepares to launch later this year.
The world population of menopausal and postmenopausal women is projected to reach 1.2 billion by 2030, with 47 million new entrants each year. The issue Alloy seeks to alleviate is two-fold: 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.
Founded by Anne Fulenwider, former longtime Editor-in-Chief of women’s magazine Marie Claire, and Monica Molenaar, founder of Seed + Mill, Alloy was designed for women by women, who know there’s a better way forward. Alloy offers its community of women a telehealth platform with access to specially-trained doctors, all certified by the North American Menopause Society (NAMS), a suite of FDA-approved hormonal prescription solutions at an accessible price delivered straight to their doors, customized content and community-building to guide them through this stage of life.
“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 Alloy Co-Founder & Co-CEO Anne Fulenwider. “Alloy exists because too many women haven’t been able to get the treatment they need. “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.”
Alloy Co-Founder & Co-CEO Monica Molenaar adds: “When I experienced surgical menopause after having my ovaries removed at age 40, it took me years to find the right solution to get me back to feeling like myself again. There is too much misinformation out there. We created Alloy so that no one has to experience the same confusion I did.”
The company’s leadership is bolstered by Sharon Malone, MD, who serves as Medical Director of Alloy. Dr. Malone is known as a fierce advocate and champion for the health of women over 40, and will provide medical guidance for Alloy and its network of providers.
“I joined Alloy as Medical Director because over my almost 30 years in private practice as an Ob/Gyn, I saw firsthand the confusion around menopause treatment and the suffering it can cause,” says Dr. Malone. “My life’s work has been to help democratize menopause care, and Alloy is executing on this mission by providing accurate and up-to-date information as well as clinically vetted, safe and effective treatment to women everywhere.”
Of the funding round, Kairos Co-Founder and Co-CEO Alex Fiance says, “Kairos’ mission is to build businesses that tackle pressing challenges and create common sense 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.”
PACE Healthcare Capital Founder Julia Monfrini Peev adds, “We started PACE to support founders who deliver high impact solutions to critical healthcare challenges. For too long, menopause has been looked at as a wellness issue that women must silently go through, while there is a myriad of evidence-based solutions to help them. We were deeply inspired by Anne, Monica and Dr. Malone’s vision to empower women in menopause to take ownership of their health and be able to age healthily and beautifully. We look forward to continuing to support them as they build Alloy and serve millions of women.”
The funding will be used to strengthen Alloy’s telehealth network, grow the team, and broaden community engagement. The company is currently in beta mode, and expects to launch later this year, with plans to expand its evidence-based offerings in 2022.