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HerMD, a company specializing in women’s healthcare, has announced an additional $18 million in Series A funding. This investment reflects the continued interest in women’s health, with companies in this sector raising about $1.16 billion in 2022, according to PitchBook data. The new funding will be used to expand HerMD’s brick-and-mortar locations, develop its virtual services, and grow its team.
HerMD’s Services and Unique Features
Founded by Dr. Somi Javaid in 2015, HerMD provides comprehensive women’s healthcare, either in-person or virtually. The company stands out for its longer appointment times, ranging from 20 to 60 minutes, and its acceptance of insurance and Medicare for all medical services. HerMD also offers aesthetic services, including facial injectables and body treatments.
To address the lack of training in women’s health, particularly in areas like menopause and sexual health, HerMD established the HerMD University. This educational platform uses proprietary care algorithms to train providers, offering more education in a few weeks than some providers receive throughout their careers.
Addressing Provider Burnout and Patient Waitlists
HerMD is also committed to improving the provider experience, addressing the burnout many healthcare professionals have experienced in recent years. The company offers equal opportunities for advancement and work-life balance, resulting in almost zero turnover.
The demand for HerMD’s services is high, with approximately 500 patients on the waitlist leading up to a clinic opening. The company currently has around 20 providers across its clinics in Cincinnati, Franklin, Tennessee, and Carmel, Indiana.
Future Plans and Expansion
With the new funding, HerMD plans to open more clinics, including its first in the New York City area and a second in the Nashville area. The company also plans to launch mental health services, invest in the latest technologies for sexual health and menopause, and introduce e-commerce with physician-curated products.
HerMD’s expansion and focus on comprehensive, accessible women’s healthcare mark a significant step forward in the industry. As the company continues to grow and innovate, it is poised to make a substantial impact on women’s health.
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