Peppy: Pioneering Personalised Gender-Based Healthcare Goes Global with $45M Series B Funding
January 11, 2023
In the ever-evolving landscape of employee benefits, health and well-being have taken centre stage. London-born startup Peppy has been at the forefront of this movement since its inception in 2018, providing gender-based healthcare services to corporate clients. With its recent $45 million Series B funding round led by AlbionVC, Peppy is gearing up for a global expansion, particularly targeting the lucrative U.S. market.
Peppy initially gained attention for addressing the overlooked issue of menopause support as an employee benefit, tapping into a market that had seen minimal attention. Dr. Mridula Pore, co-founder and co-CEO of Peppy, highlighted the company's mission, stating, "We're on a mission to become a household name across the world, and our Series B funding is just the start. We already dominate Europe's employer-funded gender-based healthcare market."
The timing of Peppy's entry into the digital health space aligned with the massive digitisation thrust brought about by the COVID-19 pandemic. The startup's unique approach involves offering individualised services encompassing menopause, fertility, pregnancy, and early parenthood. The platform provides users with diverse communication channels, including instant messaging, video consultations, live events, articles, videos, and community forums.
Peppy's success has been fueled by a combination of luck and foresight. The global menopause market, estimated at $15.4 billion in 2021, is projected to grow at 5% annually through 2030. In the U.S. alone, approximately 6,000 women reach menopause daily. Recognising the untapped potential, Peppy expanded its services to include support for endometriosis and polycystic ovary syndrome (PCOS), conditions affecting one in 10 women in the U.S.
Dr. Pore emphasised the importance of personalised care, stating, "Over the last few years, we've seen employers wake up to the vital importance of personalised care. They know that it's a non-negotiable factor in attracting, engaging, and retaining the best colleagues, particularly women."
The Series B funding round, with support from investors like AlbionVC, Kathaka, MTech Capital, Simplyhealth, and Sony Innovation Fund, reinforces the significance of gender-based personalised healthcare. Jay Wilson, Investment Director at AlbionVC, expressed confidence in Peppy's trajectory, stating, "The Peppy team has executed above all expectations, giving us confidence that Peppy will go on to be the global category leader in providing personalised expert-led pre-clinical care to all."
Peppy's growth is evident in its client base, which now includes prominent names like Accenture, Adobe, Canada Life, Disney, and Marsh McLennan. With over €41 million ($45 million) raised in the Series B round, Peppy is poised to expand its footprint and offer its innovative healthcare platform to millions of additional employees in various industries.
In a world where health is increasingly becoming a top priority for employees and employers alike, Peppy's commitment to personalized, gender-based healthcare positions it as a key player in shaping the future of employee benefits. The funding injection provides the necessary impetus for the startup to continue breaking barriers, making quality healthcare accessible to all, regardless of gender or life stage. As Peppy sets its sights on the U.S., the journey to becoming a global household name is well underway.