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BREAKING NEWS
Source: Thailand Startup News  Aug 09, 2019

Menopause Startup, Genneve Secures US$ 5.3 Million Seed Funding

Menopause Startup, Genneve Secures US$ 5.3 Million Seed Funding
Source: Thailand Startup News  Aug 09, 2019
Seattle based startup, Genneve that is focused on telemedicine service for women undergoing menopause secured a US$4 million seed funding round led by California based BlueRun Ventures.They also received further funding from the same round from Maven Ventures and Startup Health, bring the total seed capital raised to US$ 5.3 million.



Genneve will be using the seed funds to expand and grow the platform’s user base and also geographical reach.

Genneve, a three year old startup initially started off simply selling lubricants and providing information for females undergoing menopause. As characterized by Genneve’s CEO, Jill Angelo, its target market is basically ‘women kicking off the second half of life, starting with menopause’. Telemedicine came in later as an integral part of the platform due to raising user demands.

The platform introduced  the telemedicine program in January 2019 as a way to address the growing shortage of OB-GYN providers in the US.. Nearly 55% of all U.S. counties lack a single OB-GYN provider, and the shortfall is to reach worrying levels of 8,000 in 2020, according to the American College of Obstetricians and Gynecologists.

Managing Partner at Bluerun Ventures, Ms Cheryl Cheng commented in an exclusive phone interview with Thailand Startup News,“Genneve is addressing a large and unserved market. We are excited about the opportunity to use technology and data to help women understand and manage their health in the second half of life in a personalized way.”

Genneve plans to expand the telemedicine service to all 50 states in the US by the end of 2020 from its current service being available in in 23 states, and is aggressively hiring for product development, engineering and marketing personnel.

Besidesthe  telemedicine service and personal lubricants, Genneve also sells a magnesium supplements, provides a variety of information resources and also cobrands with various other related vendors.

Genneve’s main competitors includes Rory, a sister company to erectile dysfunction startup Roman, which offers over-the-counter products for menopause as well as prescription treatments, which can be given to patients after an online doctor’s visit. Another entity,Pepper and Wits, which is backed by Procter & Gamble, also sells similar products and offers advice through a “menopause navigator.”

Genneve's CEO , Jill Angelo spent more than 15 years at Microsoft on the product marketing side , but in 2016 decided to take the leap and launch Genneve.