Alloy Raises $3.3 Million In Seed Funding Round For Telehealth, Prescription, And Community Platform To Address Health Of Women Over 40
NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Alloy, a new telehealth company addressing the healthcare needs of women over 40, today announced a $3.3 million seed funding round from venture studio Kairos HQ and PACE Healthcare Capital, as it prepares to launch later this year. The world population of menopausal and postmenopausal women is projected to reach 1.2 billion by 2030, with 47 million new entrants each year. The issue Alloy seeks to alleviate is two-fold: 75% of women who seek treatment for menopausal symptoms leave their physician's office untreated,1 while over 80% of gynecologists self-report lacking the training to treat these women.2
"We are fiercely dedicated to rewriting the aging narrative for women, and making sure they're informed on all the options available to help them to feel like their best selves," says Anne Fulenwider, Alloy Co-Founder, Co-CEO and former longtime Editor-in-Chief of women's magazine Marie Claire. "Alloy exists because too many women haven't been able to get the treatment they need. We are here to course correct post-reproductive healthcare and we could not be more excited to share this platform with the world."
Founded by Ms. Fulenwider and Monica Molenaar, founder of Seed + Mill, Alloy was designed for women by women, who know there's a better way forward. Alloy offers its community of women:
- A telehealth platform with access to specially-trained doctors, all certified by the North American Menopause Society (NAMS)
- A suite of FDA-approved hormonal prescription solutions at an accessible price delivered straight to their doors
- Customized content and community-building to guide them through this stage of life
"When I experienced surgical menopause after having my ovaries removed at age 40, it took me years to find the right solution to get me back to feeling like myself again," says Ms. Molenaar. "There is too much misinformation out there. We created Alloy so that no one has to experience the same confusion I did."
The company's leadership is bolstered by Sharon Malone, MD, who serves as Medical Director of Alloy. Dr. Malone is known as a fierce advocate and champion for the health of women over 40, and will provide medical guidance for Alloy and its network of providers.
"I joined Alloy as Medical Director because over my almost 30 years in private practice as an Ob/Gyn, I saw firsthand the confusion around menopause treatment and the suffering it can cause," says Dr. Malone. "My life's work has been to help democratize menopause care, and Alloy is executing on this mission by providing accurate and up-to-date information as well as clinically vetted, safe and effective treatment to women everywhere."
The funding will be used to strengthen Alloy's telehealth network, build out staff, and broaden community engagement. The company is currently in beta mode, and expects to launch later this year, with plans to expand its evidence-based offerings in 2022.
Of the funding round, Kairos Co-Founder and Co-CEO Alex Fiance says, "Kairos' mission is to build businesses that tackle pressing challenges and create common sense solutions. We are blown away by how difficult the healthcare experience is for women 40+, which is why we have been working alongside Alloy for the last 18 months to create a solution. We are honored to collaborate with Anne, Monica and Dr. Sharon Malone as they transform the way that millions of women experience aging."
PACE Healthcare Capital Founder Julia Monfrini Peev adds, "We started PACE to support founders who deliver high impact solutions to critical healthcare challenges. For too long, menopause has been looked at as a wellness issue that women must silently go through, while there is a myriad of evidence-based solutions to help them. We were deeply inspired by Anne, Monica and Dr. Malone's vision to empower women in menopause to take ownership of their health and be able to age healthily and beautifully. We look forward to continuing to support them as they build Alloy and serve millions of women."
For more information, visit myalloy.com.
ABOUT ALLOY
Alloy is health empowerment for women over 40, offering straight talk and science-based solutions for women suffering from the symptoms of menopause. We provide a telehealth network of menopause-trained doctors; FDA-approved, plant-based prescription solutions delivered right to your door; and a community of women who know how you feel.
ABOUT KAIROS HQ
Kairos HQ is a portfolio of brands across healthcare and financial services that focuses on making life simpler and more affordable for this generation. We start by identifying the toughest problems and build products to solve them. We have built five Kairos solutions to date: Rhino replaces the security deposit, Cera provides affordable care from the comfort of the home, and Little Spoon is a modern parenthood brand to help keep your kid healthy. Bilt is the first rewards program that lets you earn points on rent. Alloy is a healthcare platform for women over 40. Kairos' five brands have a collective market cap of over $1 billion.
Find out more at KairosHQ.com.
ABOUT PACE HEALTHCARE CAPITAL
PACE Healthcare Capital is an early-stage venture capital firm focused on investing in companies that have developed high impact solutions to critical healthcare challenges. With decades of combined experience and $1B+ of capital raised and deployed in healthcare, we apply institutional-grade investment processes to identify the best entrepreneurs, and deploy financial and human capital to help them grow their business.
Find out more at pace-healthcare.com.
MEDIA CONTACTS
Bryan Blatstein
Bryan@myalloy.com
Lauren Doyle
Lauren@KairosHQ.com
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SOURCE Kairos HQ
