Startups targeting women’s healthcare have multiplied in recent years, spurred in part by PayPal co-founder Max Levchin’s launch of fertility tracking app Glow in 2013, which saw early funding from high-profile VCs such as Andreessen Horowitz and Founders Fund.
Today, we see a number of startups offering fertility tracking apps, as well as startups focused on egg freezing and fertility treatments, women-only clinical care, and even subscription tampons. Other top-tier VCs have entered the field, as well. Kleiner Perkins, for example, has backed fertility platform Progyny ($49M in total disclosed funding), while NEA has backed sexual wellness startup Nuelle ($23M in total disclosed funding). Most recently on 1/26/17, reproductive therapeutics startup Obseva announced pricing for a planned IPO.
The market map below includes startups focused specifically on women’s healthcare. It excludes healthcare companies that have significant client bases among both men and women, and excludes companies offering non-healthcare services to women. All companies in the market map are private and have received equity funding since 2014.
The startups in this market map have raised over $1.1B in total.
Click on the map to enlarge. This map is not meant to be exhaustive of companies in the space.
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Women’s Digital Health
Fertility solutions - Startups providing IVF, egg freezing, and medical treatments for female infertility. The most well-funded startup on the market map is in this category – Prelude, with $200M in disclosed funding. Prelude helps women with egg freezing, fertility treatments, and egg donation. This category also includes the Kleiner Perkins backed Progyny, which has raised $49M to offer a range of services related to egg freezing, embryo screening, and fertility treatments.
Period & fertility tracking mobile apps - Mobile apps for self-tracking of periods and fertility cycles. Beijing-based Dayima leads the category in funding, with $70.5M, followed by Clue with $30M, and Glow with $23M. Glow, which attracted funding from smart money VCs Andreessen Horowitz and Founders Fund, aims to apply big data analytics to menstruation and fertility.
At-home fertility monitoring devices - Startups offering hardware devices for women to monitor their fertility at home.
Pregnancy & nursing care - Startups offering medical care and diagnostics for pregnant women, as well as tech-enhanced breast pumps. Sera Prognostics, which provides diagnostic tests to track risks of pregnancy complications, raised money most recently with a $40M Series C in January 2017.
Reproductive system healthcare - Healthcare companies focused on women’s sexual health issues, such as pelvic floor device maker Joylux and women’s STI treatment developer Evofem. Minerva Surgical offers treatment for women suffering from menstrual issues who are done having children, and Athena provides pelvic treatments for new mothers and post-menopausal women.
General healthcare - Startups aiming to improve the overall clinical healthcare experience for women. Maven, with $9M, provides on-demand telemedicine and a network of specialists specifically for women, with options for students and employees. The Hyderabad-based Celes Care provides women’s telemedicine in India, and NextGen Jane aims to provide genomics-based personalized solutions to help women track their health.
Period care goods - Startups offering pads, tampons, and CPG items for managing periods. Lola, the most well-funded in the category with $11M, sells organic cotton tampons on a subscription model. Thinx, which has raised $1.5M, sells direct-to-consumer absorbent underwear that aims to replace pads and tampons.
Women’s sexual wellness - Startups offering lubricants and related items to help women improve sexual wellness. Nuelle, for example, raised $23M from investors including NEA and Correlation Ventures, with products aimed at enhancing women’s sexual experience, while Sustain, with $2.5M in funding, sells all natural condoms and lubricants marketed toward women.
|The Femtech Market Map: Startups Focused on Women’s Healthcare|
|Company||Category||Total Disclosed Funding||Select Investors|
|Ava||At-Home Fertility Monitoring Devices||$12M||Swisscom Ventures, Polytech Ecosystem Ventures|
|Kindara||At-Home Fertility Monitoring Devices||$7M||HAX, Drummond Road Capital, PV Ventures|
|Prima-Temp||At-Home Fertility Monitoring Devices||$8M||Undisclosed|
|Prelude Fertility||Fertility Solutions||$200M||Lee Equity Partners, My Egg Bank North America|
|Rinovum||Fertility Solutions||$30M||Innovation Works, BlueTree Allied Angels|
|Nora Therapeautics||Fertility Solutions||$34M||Rho Ventures, Vivo Capital, Prospect Venture Partners|
|Celmatix||Fertility Solutions||$35M||Topspin Partners|
|Progyny||Fertility Solutions||$49M||Kleiner Perkins Caufield & Byers, TPG Biotech, SR One|
|Celes Care||General Healthcare||$1M||Endiya Partners|
|NextGen Jane||General Healthcare||$2M||Illumina Accelerator|
|Maven Clinic||General Healthcare||$9M||BoxGroup, Great Oaks Venture Capital|
|iSono Health||General Healthcare||$120K||Y Combinator|
|Ovia Health||Period & fertility Tracking Mobile Apps||$16M||LionBird, Lightbank, LaunchCapital, Martin Ventures|
|OWHealth||Period & fertility Tracking Mobile Apps||$1M||Flint Capital, Haxus Ventures|
|Glow||Period & fertility Tracking Mobile Apps||$23M||Andreessen Horowitz, Formation 8, Founders Fund, Slow Ventures|
|Clue||Period & fertility Tracking Mobile Apps||$30M||Union Square Ventures, Mosaic Ventures, Nokia Growth Partners|
|DaYiMa||Period & fertility Tracking Mobile Apps||$70M||Sequoia Capital China, Ceyuan Ventures|
|Maya||Period & fertility Tracking Mobile Apps||$750K||Prime Venture Partners|
|Natural Cycles||Period & fertility Tracking Mobile Apps||$7M||e.ventures, Sunstone Capital, Bonnier Growth Media|
|Lunapads||Period Care Goods||$100K||SheEO|
|PMS Bites||Period Care Goods||$100K||MassChallenge|
|Lola||Period Care Goods||$11M||Lerer Hippeau Ventures, BoxGroup, Vayner RSE|
|L. Condoms||Period Care Goods||$120K||Y Combinator|
|Kasha||Period Care Goods||$200K||Undisclosed|
|Monthly Gift||Period Care Goods||$2M||Undisclosed|
|Thinx||Period Care Goods||$2M||MassChallenge|
|Flex||Period Care Goods||$4M||FundersClub, Bow Ventures, Ellen Pao|
|Cora (LYV Life)||Period Care Goods||$650K||Undisclosed|
|Sera Prognostics||Pregnancy & Nursing Care||$100M||Upstart Venture, Catalyst Health Ventures, InterWest Partners|
|Lucina Health||Pregnancy & Nursing Care||$20M||Arboretum Ventures, Chrysalis Ventures|
|TotoHealth||Pregnancy & Nursing Care||$320K||Indigo Trust, Streams Capital|
|Bloomlife||Pregnancy & Nursing Care||$4M||Kapor Capital, Act One Ventures|
|HeraMED||Pregnancy & Nursing Care||$4M||MATIMOP, Hofon Pharma|
|ObsEva||Pregnancy & Nursing Care||$95M||NEA, Merck Ventures, Sofinnova Ventures|
|Lia||Pregnancy & Nursing Care||$690K||DreamIt Ventures|
|Naya||Pregnancy & Nursing Care||$4M||NewGen Venture Partners|
|Moxxly||Pregnancy & Nursing Care||Undisclosed||Slow Ventures|
|Minerva Surgical||Reproductive System Healthcare||$116M||NEA, Versant Ventures, Vivo Capital|
|Athena Feminine Technologies||Reproductive System Healthcare||$3M||vSpring Capital|
|Evofem Holdings||Reproductive System Healthcare||$45M||Woodford Investment Management|
|Symbiomix Therapeautics||Reproductive System Healthcare||$47M||OrbiMed Advisors, F-Prime Capital|
|Joylux||Reproductive System Healthcare||$5M||Undisclosed|
|Damiva||Women’s Sexual Wellness||$1M||KES 7 Capital|
|Nuelle||Women’s Sexual Wellness||$23M||NEA, Correlation Ventures, BVCF|
|B-wom||Women’s Sexual Wellness||$1M||iSeed Ventures|
|Sustain||Women’s Sexual Wellness||$3M||Heidi Zak|
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