Evernow: Empowering Women With Telehealth Menopause Care

Unfortunately, menopause remains severely underserved and tabooed by the healthcare industry. Only 20% of OB-GYN residency programs in the U.S. offer training in menopause, and nearly 80% of medical residents admit that they feel “barely comfortable” discussing or treating menopause.

Alumni Ventures portfolio company Evernow is responding to the need for better menopause care via a telehealth platform that provides comprehensive, personalized care and treatment for women. Through prescription delivery and unlimited communication with its health team, Evernow is setting a foundation to become women’s trusted health partner for the second half of their life.

Targeting a Sizeable Market With a Strong Entrepreneurial Vision

The global menopause market was valued at $16.9 billion in 2022 and is expected to expand at a compound annual growth rate of 5.3% through 2030. Evernow is tapping into this severely neglected greenfield opportunity. Compared to the small but growing list of new entrants, the company boasts the highest amount of capital raised in the space and is backed by an experienced investor syndicate.

Evernow earns revenue through a monthly direct-to-consumer (D2C) subscription that includes telehealth, prescription delivery services, a symptom tracker, and access to the Evernow community of webinars and research content. Currently, Evernow is in the process of unbundling care to establish a more flexible, personalized model that accommodates multiple pricing tiers. This move includes:

• A new consumer app
• Focused programs for sleep, weight, and sexual health 
• Synchronous and asynchronous care options
• 24/7 access to specialists
• Pharmacy of choice (in addition to D2C delivery)

This move allows Evernow to service a broader audience across the socioeconomic spectrum and enhance retention for existing customers. The trial of this conversion has seen early signs of success — increasing conversion from ~65% to 80% over the past quarter.

An All-Star Team

Evernow’s team is vital to their leadership in the space. CEO and Founder Alicia Jackson previously launched and exited a medtech startup after serving as a Deputy Director at DARPA and developing a novel nanoparticle delivery mechanism for therapeutics at MIT. In addition, the company’s Chief Medical Officer Leah Millheiser moved to Evernow after 18 years at the Stanford School of Medicine, where she was the Director of the Female Sexual Medicine Program.

What is equally impressive is the team of established investors supporting Evernow. The company is backed by NEA — a  prolific $24 billion fund. In addition, numerous A-list celebrities and businesswomen have also invested, including Drew Barrymore, Demi Moore, Carla Harris, Abby Wambach, and Cameron Diaz, infusing continued horsepower around Evernow’s brand.

How We Are Involved

Purple Arch Ventures (for the Northwestern community) sponsored Alumni Ventures’ investment in Evernow’s $28.5 million Series A led by NEA. Ring Ventures (for the Texas A&M community) also invested in the round alongside AV’s Total Access Fund.