Tech
Peppy provides employees with personalized care for gender-based health conditions. Check out the 9-slide deck used to raise $45 million.
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- London-based Peppy has raised a $45 million Series B from AlbionVC.
- The startup offers personalized consultations for gender-based health issues as an employee benefit.
- Check out the 9-slide deck used to raise the fresh funds.
London-based Peppy has raised a $45 million Series B from AlbionVC to bring its employee benefits platform to the US.
Founded in 2018, the digital health startup offers personalized care for employees through its in-app consultations and resources, especially for “life stages that can be disruptive, from menopause to baby care,” said cofounder and CEO Mridula Pore.
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It focuses on gender-based health issues, such as menopause, fertility, parenthood, and men’s health, which have been widely underserved due to certain taboos attached to these conditions. This had also left patients reluctant to seek help for them, Pore said.
But the advent of virtual platforms such as Peppy has made it easier for users to approach healthcare providers, as they can maintain a degree of privacy and comfort from their home.
Peppy’s app provides live chats and one-to-one consultations with specialists, so users can get personalized advice in real time. It also has a library of content on gender-based health conditions, as well as weekly virtual events and community group chats so that users can share their experiences with each other.
The startup recruits clinical directors who can provide informed insights into each condition, who then work to recruit more specialists onto the platform.
As a B2B employee benefits service, Peppy is funded by employers, and free at the point of use for employees. The pandemic was a pivotal period for the startup as it highlighted the pitfalls of a “one-size-fits-all” approach to healthcare that was previously the norm and encouraged employers to take initiatives to expand their employees’ health benefits.
Peppy has now partnered with some of the biggest health insurers in the UK, such as Axa Health and Vitality.
While it started with a focus on menopause and baby care, Pore saw increased traction for underserved conditions such as endometriosis and polycystic ovary syndrome (PCOS), and decided to build out Peppy’s services to accommodate this gap in the healthcare market.
“It came out of our understanding of how widespread those issues are,” she said.
The startup has partnered with the likes of Disney, Accenture, and Adobe, and it will now expand to the US, where it sees more demand for its services.
The Series B round was led by London-based venture capital firm AlbionVC, which has previously backed digital health startups Healios and Oviva, with participation from Kathaka, MTech Capital, Simplyhealth, and Sony Innovation Fund. Existing investors Felix Capital, Hambro Perks, Outward VC, and Seedcamp also participated in the round.
With the fresh funds, Peppy will scale to the US, and continue to develop its product in the UK.
Check out the 9-slide deck used to raise the fresh funds.
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