Peppy, the UK’s gender-based employee healthcare benefits platform, has secured $45M in a Series B funding round led by London-based VC AlbionVC (also backed Ophelos and 5Mins AI).
Other investors participated in the round, including Kathaka, MTech Capital, Simplyhealth, Sony Innovation Fund, Felix Capital, Hambro Perks, Outward VC, and Seedcamp.
The funding will enable the company to expand its operations in the US.
Dr. Mridula Pore, Co-Founder, and Co-CEO of Peppy says, “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.”
Pioneering employee health support
Founded in 2018 by Evan Harris, Max Landry, and Mridula Pore, Peppy is the digital health platform that pioneered employee health support.
Through live chat, live events, and virtual consultations, users can receive the information, answers, and personalised support they need, tailored to their circumstances.
Peppy focuses on under-served areas in the UK, including family and reproductive health, such as trying to start a family, becoming a parent, and going through menopause and men’s health service.
Over 250 leading UK employers and over 1.5m employees use Peppy, including Clifford Chance, Marsh McLennan, Santander, the University of Sheffield, and Wickes.
The company claims that it has seen 10x growth since its Series A investment in July 2021.
Pore continues, “Over the last few years, we’ve seen employers wake up to the vital importance of personalized care. They know it’s a non-negotiable factor in attracting, engaging, and retaining the best colleagues, particularly women. We’re a young, 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, adds, “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 customer adoption rate 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, says, “Peppy’s rapid growth in Europe underscores the vast market demand for a digital provider dedicated to women’s health — particularly 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 invest in Peppy as it rolls out its offering to US employers.”
