HerMD, a company that currently operates two insurance-based, women’s health focused health care centers in Ohio and Kentucky in the U.S., has raised $10M in Series A funding from JAZZ Ventures. The new funds will be used to open additional locations, but also to enter the virtual care market and scale nation-wide.
HerMD was founded in 2015 and has, according to the company, treated women from over 30 states and Canada, who seek care at the clinics due to the unique, holistic treatment models that addresses menopause, sexual health, medical aesthetics, and mental health. While others are innovating in this market, HerMD is hyper focused on delivering the full continuum of care needs for this specific population, involving patient-centric in-person and virtual care.
HerMD Founder, board-certified OB/GYN and women’s health thought leader Dr. Somi Javaid explains: “Women who suffer from menopause and sexual dysfunction require a multi-faceted and individualized approach to health care that takes into account physical symptoms, mental health and personal relationships. We have seen our approach change the lives of thousands of women who have sought out the health care providers at HerMD after years of dismissals and failed treatments.”
Meghan Reynolds, Partner at JAZZ Ventures adds: “This round marks an incredible milestone for women’s health care, in particular, for the vastly underserved areas of sexual health, menopause and sex-aware mental health in traditionally overlooked geographies. We believe the HerMD care model is uniquely positioned to disrupt one of the fastest-growing segments in healthcare.”
HerMD is the latest company looking to build out a hybrid care model in the U.S. that combines virtual and in-person care and follows others like Tia (holistic women’s health), Kindbody (fertility), TBD Health (sexual health), Origin (pelvic health), or Oula (maternal health) into a nascent market focused on patient-centric care. The company plans to open 3 additional clinics in 2022 with more to come in 2023 and wants to offer telehealth in all 50 states by the end of 2023 as well.