Midi Health Revenue, Valuation, Funding & Investors

Midi Health is valued at $1B as of February 2026, a 6.7x multiple on its last reported $150M revenue.

Last Midi Health valuation

$1B

Series D · Feb 2026

Last Midi Health funding round

$100M

Series D · Feb 2026

Midi Health revenue

$150M

Series D · Feb 2026

Key investors in Midi Health

  • Felicis
  • SemperVirens Venture Capital
  • GV
  • Emerson Collective
  • Advance Venture Partners
  • Goodwater Capital

Midi Health Overview

About Midi Health

Midi Health is a telehealth provider specializing in women's midlife care, including menopause, perimenopause, hormonal imbalances, weight management, mood disorders, sleep issues, hair and skin health, sexual wellness, and cancer survivorship. Headquartered in San Francisco, it connects patients with board-certified clinicians via virtual visits covered by major insurers like Aetna and Blue Cross. Midi partners with employers such as Lyft and health systems to integrate services, offering custom prescriptions, metabolic testing, and supplements shipped nationwide.


Founded

2021

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2C

Revenue model

Services

Revenue

$150M (Feb 2026)

Valuation

$1B (Feb 2026)

Midi Health Valuation

Midi Health is currently valued at $1B, based on its Series D in February 2026.

The $100M round was led by Goodwater Capital, with participation from Emerson Collective, McKesson Ventures, GV, Advance Venture Partners, Felicis and 3 other investors.

Midi Health's valuation has moved from $1B at its Series C in October 2025 to $1B in February 2026, across 2 priced rounds.

Midi Health valuation by funding round

Revenue multiple
Midi Health valuation by funding round
DateStageValuationRevenue Multiple
Feb 2026Series D$1B6.7x
Oct 2025Series C$1B16.7x

Midi Health Revenue

Midi Health's latest recorded revenue is $150M, as of its Series D in February 2026. At a $1B valuation, that implies a 6.7x revenue multiple.

Revenue grew from $60M in October 2025 to $150M in February 2026, while the revenue multiple moved from 16.7x to 6.7x.

Midi Health revenue by funding round

Midi Health revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Feb 2026$150M$1B6.7xSeries D
Oct 2025$60M$1B16.7xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Midi Health Funding History

Midi Health has raised a total of $252M across 5 funding rounds.

Midi Health's first fundraising round was a $14M seed round in October 2022. The most recent completed round was a $100M Series D in February 2026.

Midi Health funding rounds

Midi Health funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026Series DGoodwater Capital (lead); Emerson Collective; McKesson Ventures; GV; Advance Venture Partners; Felicis; Foresite Capital; Serena Ventures; SemperVirens Venture Capital$100M$1BMidi Health, a leading women's telehealth company founded in 2021, specializes in virtual care for midlife women, initially focusing on perimenopause and menopause but expanding into lifelong care including cardiology, obesity management, autoimmune survivorship, longevity, weight loss, and branded supplements. The company announced a $100 million Series D funding round on February 3, 2026, led by Goodwater Capital, with participation from new investors Foresite Capital and Serena Ventures, alongside existing backers Advance Venture Partners, Emerson Collective, Felicis, GV (Google Ventures), McKesson Ventures, and SemperVirens Venture Capital. This round propelled Midi Health to a valuation surpassing $1 billion, marking it as the first unicorn in its specific women's health niche and highlighting investor confidence in its patient-centric model combining clinical expertise, AI-driven personalization, and scalable growth. Midi reports strong traction with over 25,000 patients per week and insurance coverage for 45 million women across all 50 U.S. states through partnerships with major health systems and insurers. Clinical outcomes include a 28 percentage point increase in breast cancer screening adherence, 11 percentage points for colorectal cancer screening, up to 13% lower total cost of care, and reductions in A1c and LDL levels. The company deploys a proprietary AI engine to integrate into clinical workflows, enhancing efficiency and personalization amid rapid expansion. To support scaling as a consumer brand rather than B2B-focused healthcare, Midi bolstered its executive team with Jason Wheeler as CFO (ex-Tesla/Google), Melissa Waters as CMO (ex-Meta/Lyft), and Matt Cook as Chief Commercial Officer. Total funding raised now stands at $250 million, with plans to further AI-enabled care lines, research, and nationwide access to address underserved women's health needs, including the $25 billion annual economic cost of untreated menopause symptoms. CEO Joanna Strober emphasized transforming women's healthcare at scale, rejecting acquisition in favor of building a major independent company.
Oct 2025Series CAdvance Venture Partners (lead)$50M$1BMidi Health is a women’s telehealth company initially focused on perimenopause and menopause care, expanding into a broader AI-enabled platform covering OB-GYN, internal medicine, cardiology, endocrine, survivorship, obesity, sleep, mood disorders, dermatology, longevity, and naturopathic medicine. It offers nationwide insurance coverage to over 45 million women, with more than 25,000 patients seeking integrated care weekly, supported by AI for clinical decision-making and operations. The company reports clinical outcomes including 28% increased breast cancer screening adherence, 11% increased colorectal cancer screening adherence, up to 13% lower total cost of care, and reductions in A1c and LDL levels. On February 3, 2026 (reported around February 10, 2026), Midi Health raised $100 million in an oversubscribed Series D round, surpassing a $1 billion post-money valuation and achieving unicorn status. The round was led by Goodwater Capital, with new investors Foresite Capital and Serena Ventures, plus participation from existing backers Advance Venture Partners, GV (Google Ventures), Emerson Collective, SemperVirens, McKesson Ventures, and Felicis Ventures. This followed a $50 million Series C led by Advance Venture Partners in 2025 and prior funding including an SPV with celebrity backers like Amy Schumer and Sheryl Sandberg; total funding raised to date exceeds $250 million. Funds will fuel expansion of its AI-enabled clinical engine, additional care lines, research, nationwide scaling, and consumer brand building beyond B2B, with partnerships like Mount Sinai Health System and entry into supplements for women aged 35-65. The milestone highlights investor confidence in women’s health amid a femtech market projected to grow from $63 billion in 2025 to $267 billion by 2035 at over 15% CAGR. New executives including CFO, CMO, and CCO were appointed to support growth, positioning Midi as a leader in an underserved $ billions healthcare spend segment.
Apr 2024Series BEmerson Collective (lead)$63M-Midi Health is a women's telehealth company founded on the principle of providing comprehensive care for women throughout their life stages, initially focusing on menopause and perimenopause care. The company operates a clinical model combining clinical expertise, technology, and data-driven insights to improve health outcomes, reporting achievements such as 28 percentage point increases in breast cancer screening adherence and up to 13% lower total cost of care compared to matched cohorts. In April 2024, Midi Health raised a $60 million Series B led by Emerson Collective, bringing total funding at that time to $100 million. The company subsequently raised a $50 million Series C in October 2025 led by Advance Venture Partners, followed by a $100 million Series D in February 2026 led by Goodwater Capital that valued the company at over $1 billion. As of early 2026, Midi Health serves more than 25,000 patients per week with insurance coverage reaching 45 million women nationwide, and has raised approximately $250 million in total funding across five rounds. The company is expanding beyond menopause care into broader services including cardiology, obesity management, autoimmune survivorship, and longevity, leveraging a proprietary AI engine to enhance clinical workflows and operational efficiency.
Sep 2023Series AGV (lead); Operator Collective; Felicis; Icon Ventures; SemperVirens Venture Capital; 25madison$25M-Midi Health is a women's telehealth company specializing in perimenopause, menopause, and midlife care, offering virtual consultations across specialties like OB-GYN, cardiology, endocrinology, and more, with nationwide insurance coverage reaching over 45 million women and serving more than 25,000 patients weekly. The company secured a $25 million Series A funding round in September 2023 led by GV, with participation from investors including Felicis, matching the specified investors. Prior to that, Midi raised a $14 million seed round in October 2022. Following the Series A, Midi Health continued raising capital, including a $60 million Series B in April 2024 led by Emerson Collective, bringing total funding to $100 million at that time, and a $50 million Series C in October 2025 led by Advance Venture Partners with participation from Emerson Collective, GV, Felicis, and others. In February 2026, the company announced a $100 million Series D led by Goodwater Capital, achieving over $1 billion valuation, with new investors Foresite Capital and Serena Ventures, plus existing backers like GV, SemperVirens, and Felicis. A recent $50 million raise was also noted ahead of the Series D. Midi operates an asset-light model using nurse practitioners for consultations, insurance-reimbursed services, its own compounding pharmacy for prescriptions, supplement sales, and a premium AgeWell longevity service, benefiting from high retention in chronic menopause care. The platform leverages AI for clinical decision-making, operations, and personalization, driving outcomes like 28-point increase in breast cancer screening adherence and up to 13% lower total cost of care.
Oct 2022SeedFelicis (lead); SemperVirens Venture Capital (lead)$14M--

Who has invested in Midi Health?

12 investors have backed Midi Health across its funding rounds, including Felicis, SemperVirens Venture Capital, GV, Emerson Collective, Advance Venture Partners and Goodwater Capital.

Lead investors include Goodwater Capital, Advance Venture Partners, Emerson Collective, GV, Felicis and 1 other investor.


Midi Health Investors

Investors in Midi Health by funding rounds participated
InvestorHQRoundsRoleFirst check
FelicisUnited StatesSan Francisco, CA3LeadOct 2022
SemperVirens Venture CapitalUnited StatesSan Francisco, CA3LeadOct 2022
Emerson CollectiveUnited StatesSan Francisco, CA2LeadApr 2024
GVUnited StatesSan Francisco, CA2LeadSep 2023
Advance Venture PartnersUnited StatesSan Francisco, CA2LeadOct 2025
McKesson VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2026
Operator CollectiveUnited StatesSan Francisco, CA1ParticipantSep 2023
Icon VenturesUnited StatesSan Francisco, CA1ParticipantSep 2023
Foresite CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2026
Goodwater CapitalUnited StatesSan Francisco, CA1LeadFeb 2026

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Midi Health Competitors

Midi Health competitors include listed companies like Nyxoah and Kooth, and private ones like Forward, SheMed, Hims & Hers and Calibrate.

Public and private companies comparable to Midi Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ForwardUnited StatesSan Francisco, CAPrivate--$1B-
SheMedUnited KingdomUnited KingdomPrivate--$1B-
Hims & HersUnited StatesSan Francisco, CAPrivate--$1.1B-
CalibrateUnited StatesNew York City, NYPrivate$21M-$1.3B61.9x
NyxoahBelgiumBelgiumPublicly listed$12M($97M)$162M3.2x
KoothUnited KingdomUnited KingdomPublicly listed$85M$13M$90M0.7x

Midi Health Public Comps

Midi Health is still privately-owned, but its public comps include Helus Pharma, Talkspace, Teladoc, GoodRx, Sphere, JMDC, Guiyang Longmaster, Medley Inc., Ping An Healthcare and American Well.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Helus Pharma-($153M)--(5.4x)(4.8x)
Talkspace$229M$6M3.4x3.4x129.3x49.4x
Teladoc$2.5B$124M0.6x0.6x11.3x5.0x
GoodRx$797M$173M1.8x1.8x8.1x5.5x
Sphere$70M$6M14.3x6.9x156.3x103.0x
JMDC$324M$88M5.0x4.6x18.4x17.9x
Guiyang Longmaster$44M$5M10.0x-87.9x-
Medley Inc.$236M$32M2.1x1.8x15.7x13.2x

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Common questions about Midi Health

When was Midi Health founded?Midi Health was founded in 2021.
Where is Midi Health headquartered?Midi Health is headquartered in Los Angeles, CA, United States.
Is Midi Health publicly listed?No, Midi Health is a private, VC-backed company.
What is Midi Health's valuation?Midi Health was last valued at $1B in its Series D in February 2026.
How much funding has Midi Health raised?Midi Health has raised $252M across 5 funding rounds.
What was Midi Health's last funding round?Midi Health's last funding round was a $100M Series D in February 2026, led by Goodwater Capital.
Who are Midi Health's investors?Midi Health's investors include Felicis, SemperVirens Venture Capital, Emerson Collective, GV, Advance Venture Partners, McKesson Ventures, Operator Collective, Icon Ventures, Foresite Capital, Goodwater Capital and 2 others.
What is Midi Health's revenue?Midi Health's latest recorded revenue is $150M (February 2026).
What is Midi Health's revenue multiple?Midi Health's latest valuation implies a 6.7x revenue multiple ($1B valuation on $150M of revenue).
Which companies are comparable to Midi Health?Companies comparable to Midi Health include Forward, SheMed, Hims & Hers, Calibrate, Nyxoah and Kooth.

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