Although every woman will experience menopause at some point in her life, it is not something that is being discussed as often as it should.Enter Elektra Health, an innovative women's health technology startup, which raised $3.75million in seed capital to develop its platform, which provides evidence-based care and education, as well as a community for women who are going through menopause.Jannine Versi and Alessandra Henderson, co-founders of TechCrunch, said that over 50 million American women are in menopause. The industry is a $600 billion global opportunity.Henderson, who has a background in business creation platform Human Ventures called menopause a cultural Zeitgeist. It is becoming a force in the conversation and getting investors to believe in Elektras mission. Henderson is also a personal investor in the company. She started a journey to improve her hormonal health four years ago, after she experienced symptoms that were not explained by doctors.She decided to open a femtech company several years later. Henderson stated that although there was so much in the reproductive sector, no one was discussing what the next steps were or how to get through menopause. The moment she met Versi, her co-founder, was the moment Elektra was born. Versi is a digital health professional.Menopause, a hormonal transition in hormones, is usually experienced by women around their 40s and 50s. Research has shown that up to 34 symptoms of menopause have been identified and that almost 80% of women feel their quality of living has been negatively affected by them. At the same time, less than 20% of obstetrics/gynecology residency programs educate doctors about menopause.Elektras platform will pick up the slack and offer clinical care via Telemedicine and its proprietary Menomorphosis program. This program features evidence-based guidance about symptoms, a community to support and access a dedicated Menopause expert. In 2022, the program will be open to all.Versi stated that we are committed to helping women, providing education, support, coaching, and counseling, particularly in the arcs of their lives. It is a very intimate topic. However, we have referral rates in excess of 40%. Women talk about it and bring a friend. We believe it is vital to maintain that connection. We are seeing a lot of friends join us and form a real bond with the community.The seed funding for the New York-based company was led by Alexis Ohanians Seven Seven six and Flare Capital Partners. Other participants included City Light Capital, January Ventures and Human Ventures. A group of angel investors also participated, including Hannah and Guy Raz and Claire Diaz-Ortiz.The new funding will be used for the expansion of its team as well as to provide a more evidence-based, integrative solution to millions of women across the U.S. and around the world.Elektras private beta educational program has been attended by more than 1,800 women since its inception in 2019.Henderson stated that last year was all about growing and learning the things women want. We are making an effort to make women feel the respect they deserve.Elektra Health has a lot of women's health technology that focuses on fertility. However, Elektra Health isn't the only one in this battle: Peppy, a new startup, recently reported funding to address Menopause in Employee Health. Meanwhile, Vira Health received 1.5 million in seed funding to fund a U.K platform.Seven Seven Six founding partner Katelin Holloway said that in her previous roles as a leader of compensation and benefits, she realized that employees wanted menopause care as much as they did fertility benefits.After her employees started asking for desk fans, she began investigating and discovered that it was not from Gen Z employees but all women.Holloway stated that I was able to see that I had a good group of women who were experiencing menopause. The fan at the desk was a kind of bat signal to other employees. It opened up conversations between them, allowing them to share their symptoms with each other.After becoming an investor, she put out a call looking for companies that could provide this kind of care again and was introduced to Elektra. Holloway stated that there is a new generation of women in their 40s who are interested in discussing menopause, have technology and want privacy. She also said they would like to be able to share the experience with others.Elektras founders were described by her as incredible women who are deeply committed to the space and have an amazing background and credentials.
