Menopause company Joylux closed on $5.5M in new commitments from notable Silicon Valley investors J-Ventures, J-Impact and Dr. Kathy Fields, bringing their total Series A round to $13M. Joylux will use the news funds to hire key individuals and accelerate the growth of their app-enabled vFit and vSculpt devices and accessory products, while expanding their innovative product offerings in Latin America and Europe through a co-brand and private label partnership with Essity, the global leaders in consumer health and hygiene products. Essity recently announced the launch of Issviva, a platform dedicated to menopause in the U.K. and Brazil.
The global menopause market size is estimated to grow to $600 billion with more than a billion women expected to be in menopause by 2025. Historically, there has been little investment and innovation in this category despite the staggering number of women impacted and dollars spent. According to a menopause survey conducted by AARP, 72% of women said menopausal symptoms had a negative impact on their lives and 93% would be interested in non-hormonal solutions to help address these symptoms.
Joylux focused on this market before it was a recognized growth category with the introduction of their vFit and vSculpt family of at-home vaginal health devices treating Genitourinary Syndrome of Menopause (GSM), which is a vaginal health condition that negatively impacts over 50% of women in menopause. Utilizing red-light LEDs and gentle heat, their patented and clinically-validated technology rebuilds collagen and elastin and increases blood flow in the vaginal tissue, resulting in dramatic improvement in GSM symptoms–less bladder leakage and vaginal dryness and improved sexual function—in less than 8 weeks. In 2021, Joylux app-enabled the devices to provide personalized treatment plans, rich educational content, and community connection with other women struggling with these changes. Joylux devices and accessory products are now carried by over 1,000 medical professionals and retail partners such as Saks.com, Goop, and Neiman Marcus in the United States, Canada and the United Kingdom.
Colette Courtion, Joylux Founder & CEO shares: “We are making aggressive moves to capitalize on the enormous market opportunity and health needs that menopause brings. Women want alternative treatment options to hormone replacement therapy, and we now have a platform of products that address a myriad of menopause health issues with non-hormonal solutions. Our newest app is proving to be an invaluable tool for women as they better understand what their bodies are going through. This cash infusion will bring more robust features and products to our platform, while increasing our brand footprint in new international markets with Essity as our partner.”
Christine Arbelaez, Global Director of Menopause at Essity adds: “We believe the category of menopause can be a multi-billion-dollar opportunity. We are very impressed with the novel, science-based approach Joylux offers to solve quality-of-life health issues for menopausal women. We look forward to introducing this technology to our consumers in Latin America and Europe.”