The startup, which aims to launch a pilot programme later this year, received capital from investors including Insurtech Gateway, along with VCs 2100 Ventures and Exceptional Ventures. Angel investors, such as Tara Reeves from Eurazeo, Vera Baker from Atomico Angel, and Charles Delingpole, founder of fintech firm ComplyAdvantage, also contributed to the funding round.
Pending a successful pilot programme, Juniper intends to officially launch its product in 2025, while planning to seek additional funding in the latter half of the following year. The allocated funds will facilitate the rollout of Juniper’s pilot program, which targets 1000 employees across multiple UK businesses. To accommodate this expansion, Juniper’s team of three plans to triple in size by the end of the year.
Established in 2023, Juniper specialises in providing health insurance coverage for reproductive health conditions such as polycystic ovary syndrome (PCOS), menopause, erectile dysfunction, and gender dysphoria. The insurance coverage spans three main areas: discovery (including consultations, tests, and screening), treatment, and family planning.
Juniper’s offerings encompass treatments and testing for various reproductive health issues, including menopause, endometriosis, and prostatitis, as well as services like sperm and egg freezing, IVF, and adoption support. Targeting employers with over 250 staff, Juniper allows employees to file claims through the company’s web app and select their preferred treatment locations.
The inspiration behind Juniper stems from personal experiences of its co-founder and CEO, Ambra Zhang, who was diagnosed with PCOS during a previous corporate job and discovered that it wasn’t covered by her health insurance.
She said: “I was diagnosed with polycystic ovarian syndrome (PCOS) early on, and my corporate health insurance didn’t cover it, as PCOS was classified as a chronic reproductive condition. So, every year, I would pay £1,000 out of pocket to see my gynaecologist get my prescription. Juniper bridges this gap by providing end-to-end reproductive health support for employees and offers tailored, high-quality insurance products for employers and brokers. Our digital platform aims to revolutionise the insurance industry by meeting the unmet needs of the new generation.”
Juniper’s analysis of 50 health insurance policies reveals that 90% don’t cover IVF or other infertility and menopause treatments. With 1 in 3 UK women facing reproductive issues and up to 7% of men experiencing infertility, Juniper sees a significant market opportunity.
Juniper calculates risk for its insurance plans and plans to fund claims using cash from larger insurers. The startup is in talks with multiple insurance providers. During the pilot phase, Juniper aims to validate its risk calculation model.
