• Peppy is the world leader in menopause and men’s health benefits, as well as pioneering support for fertility, pregnancy and early parenthood.
• With over 250 world-leading enterprise clients such as Accenture, Adobe, Canada Life, Disney, and Marsh McLennan.
• The $45m funding round was led by AlbionVC, a leading European health-tech investor.

London, UK. 11th January 2023: Peppy, the personalized digital health platform that pioneered free-for-employee health support in Europe, has secured funding for a massive US expansion. 

The $45m Series B was led by AlbionVC, and joined by Kathaka, MTech Capital, Simplyhealth and Sony Innovation Fund. Previous investors Felix Capital, Hambro Perks, Outward VC and Seedcamp also participated. 

Through live chat and virtual consultations, Peppy gives users unlimited access to expert healthcare providers who specialize in the conditions and life stages that threaten their health and undermine their quality of life. And the service is entirely free to the user via their employer. 

Peppy’s story began in 2018, when it launched menopause support as an employee benefit, this was a world first. The service was a fast hit, and Peppy quickly became a world-leader in a multi-billion dollar industry. 

In 2021, the global menopause market reached a valuation of $15.4b, and it’s expected to continue growing at five percent annually through 2030. Of that growth, no market represents a bigger opportunity than the US, where approximately 6,000 women reach menopause every day.¹ Thanks to Peppy’s recent funding, many of them will soon have access to revolutionary, one-on-one support that they simply cannot access through traditional providers.

Peppy isn’t stopping at menopause. The global leader in personalized healthcare now also supports endometriosis² and polycystic ovary syndrome (PCOS), conditions that each affect roughly one in 10 women in the US³. 

This funding — and the US expansion it enables — marks a tipping point for gender-based personalized healthcare. It secures Peppy’s market-leading position and allows it to reach millions of additional employees in industries as far-reaching as finance, tech, legal, pharma, FMCG, and more. 

Dr Mridula Pore, Co-Founder and Co-CEO of Peppy, said,

“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. With our growing team in the US and numerous big brands already choosing Peppy, we will soon be a leading player in America.”

Peppy has seen 10x growth since its Series A investment in July 2021 and is trusted by over 250 enterprise businesses, including Accenture, Adobe, Canada Life, Disney, and Marsh McLennan. 

Pore continued,

“Over the last few years we’ve seen employers wake up to the vital importance of personalized care. They know that it’s a non-negotiable factor in attracting, engaging and retaining the best colleagues, particularly women. We’re a young and outrageously ambitious company and we’re incredibly excited to continue our mission in the world’s largest healthcare economy.”

Jay Wilson, Investment Director at AlbionVC added,

“Over the three years we have known the company, 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. The rate of customer adoption highlights the depth of market need and Peppy has now cemented itself as the European category leader. The early proof points from customers and partners in the US are particularly exciting and we are delighted to be partnering with Peppy”.

Brian McLoughlin, Partner and Co-Founder, MTech said,

“Peppy’s rapid growth in Europe underscores the vast market demand for a digital provider dedicated to women’s health — in particular menopause. Peppy’s business model resonates with its combination of digital convenience and personalized advice from experienced, specialized healthcare professionals. In the US women in the workplace face the same challenges as in Europe and the market here is essentially unserved. We’re truly excited to be investing in Peppy as it rolls out its offering to US employers.”

Peppy was founded in 2018 by Evan Harris, Max Landry and Mridula Pore, who shared a vision to provide personalized, expert-led support that improved upon the traditional doctor experience. Peppy has now grown to a team of over 200 people, with offices in London and  New York. 

For more information: www.peppy.health 

END

Notes to Editors

Sources

1. https://www.grandviewresearch.com/industry-analysis/menopause-market
2. https://www.womenshealth.gov/a-z-topics/endometriosis
3. https://www.cdc.gov/diabetes/basics/pcos.html & https://www.endocrine.org/news-and-advocacy/news-room/2022/women-may-experience-different-pcos-symptoms-depending-on-where-they-live

Client Testimonials

“I have retained talent, female talent, avoided recruitment costs and secured grown experience within the firm which has a cost I cannot quantify” – Mandy Willis, Board Director, Mace, 2022

“The Peppy services cover such a huge range of our employee base. It’s important for us to be an employer of choice by providing the services that our employees will receive valuable support from.” – Caroline Jordan, Benefits Director for UK and Ireland, Marsh McLennan

“As a responsible employer, for us, it was really important to support colleagues who needed it most. Peppy is for everyone. For us, it truly spans all genders and supports far-reaching issues.” – Theresa Winters, Culture and Employee Value Proposition Lead, Santander UK

“Over 600 of our colleagues are receiving amazing support from the team at Peppy to better manage their menopause journey. We know it is making a significant and positive impact in their lives.” – Theresa Winters, Senior HR Manager, Santander UK

One of the reasons we went with Peppy is because they have similar values to us. They want to make healthcare available to everybody, regardless of status or salary. Wickes has a similar ambition.” – Claira Singh, Diversity and Inclusion Manager, Wickes

“I couldn’t have been more impressed when our Rewards team showed Peppy to me. They’d seen a need and they filled that need.” – Theresa Palmer, Global Head of Diversity and Inclusion, BAE Systems

“I am delighted that Accenture UK has launched the provision of Peppy. Peppy will provide personalised support on topics across the spectrum of hormonal health. I am extremely proud to work for such a supportive employer.” – Jill Ross, Managing Director, Accenture

“The engagement levels are outstanding, feedback from our workplace has been incredibly positive, and we are already seeing a positive impact for those colleagues who are struggling through the menopause. For us, Peppy not only supports our healthcare strategy centred around prevention but also supports our focus on building inclusive benefits” –  Laura Jackson – EMEA Wellbeing Program Manager, Adobe

Press Contact

CEW Communications For Peppy 

Sarah Norford-Jones, [email protected], +44 (0)7748 617118

Press Kit: Peppy Press Kit

About Peppy

Peppy is the digital health platform that pioneered health support for employees, and it focuses on under-served areas of healthcare. It’s areas of support in the UK include family and reproductive health – trying to start a family, becoming a parent and going through menopause – and a first-of-its-kind men’s health service.

When an employer gives its people Peppy, it gives them unlimited access to experienced, specialized healthcare providers. Through live chat, live events and virtual consultations, users receive the information, answers and personalized support they need, tailored to their circumstances.

Over 250 leading UK employers and over 1.5m employees have access to life-changing support with Peppy, including Clifford Chance, Marsh McLennan, Santander, the University of Sheffield and Wickes.

About AlbionVC

AlbionVC supports visionary founders with long-term capital and scale-up expertise. Founded in 1996, today it partners with UK early-stage B2B software and healthcare companies. AlbionVC manages c. $1 billion of venture funds, currently invested in over 50 companies. AlbionVC is the technology investment arm of Albion Capital Group LLP, which is authorised and regulated by the Financial Conduct Authority. www.albion.vc

About Kathaka

Kathaka is a London-based single-family office deploying capital and strategic resources into investment and philanthropic endeavours. As a long-term and patient partner, Kathaka deploys capital supporting entrepreneurs across North America and Europe in emerging B2C and B2B platforms. In parallel, Kathaka looks to actively contribute to a better tomorrow through the deployment of strategic resources and support in Sub-Saharan Africa including its work with Peace Parks Foundation.

About MTech Capital

MTech Capital is an InsurTech-focused venture capital firm with offices in Santa Monica and London. MTech invests in technology-enabled companies with the potential to transform one or more elements of the insurance value chain, across P&C, life, health, employee benefits, and asset management. MTech is led by founding partners each with decades of experience across venture capital, insurance, and insurance investment banking. MTech’s investors include some of the world’s largest insurance groups. Learn more at www.mtechcapital.com

About Sony Ventures Corporation

Sony Ventures Corporation manages Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment. Sony Ventures Corporation, a whollyowned subsidiary of Sony Group Corporation, is headquartered in Japan.

About SimplyHealth

We are a leading health solutions company, committed to providing affordable healthcare, to support everybody’s every day healthcare needs. Through our health and dental plans, including the market leading Denplan and number one provider of eye care packages, Ocuplan, we look after over two million customers. We aim to support and protect the NHS through the provision of outpatient support to help people live their best lives.

We don’t have shareholders and since 1872 we’ve been led by our purpose of improving access to healthcare, for all in the UK. We are changing the game, investing £60 million in new businesses to accelerate the development of predictive and preventative healthcare services.

We understand our health depends on the health of our communities and our planet. Each year we commit to giving up to £1million to a range of community causes, in March 2022 we achieved Carbon Neutral + status for the second year and in 2022 we became the first Health Insurer to be awarded B Corp status.

To find out more, visit https://www.simplyhealth.co.uk/