Earlier this week, women’s health got its latest unicorn. Midi Health raised a $100 million series D round that pushed its valuation to $1 billion.
The afternoon before the news was announced, Midi founder Joanna Strober stopped by the Fortune offices to chat about what the news meant. How was she feeling? She was thinking about what’s coming next.
“There’s so much demand,” she told me.
Midi’s funding round was led by Goodwater Capital, which invests in consumer tech like Spotify, Twitter, and newer apps like Beli (and not much health care). Midi’s lead investor reveals where the company is going next; Strober wants to build Midi as a true consumer brand, not a B2B business like so many health care unicorns.
The other major women’s health company to cross a $1 billion valuation is Maven, which sells family care benefits to employers. Midi started as a telehealth service providing menopause care, and is now getting into weight loss and selling its own branded supplements.
