Fertility monitoring app Flo introduced it closed $50M in a Series B financing, bringing the whole capital raised to $65 million and firm valuation to $800M. VNV Global and Target Global each led the spherical, with earlier investments in Babylon Health, Lyft, Delivery Hero, and Bird. As probably the most downloaded well being app in AppRetailer in 2020, Flo will use the most recent funding to improve personalization and supply customers with superior cycle insights and symptom patterns to assist them successfully handle and proactively enhance their general well being.
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The 2016-founded startup raised a $1M seed in its first yr and has gone on to elevate a complete of $65M. The newest B funding spherical is co-led by VNV Global and Target Global.
“Too often, people encounter misinformation when searching on the internet for signs and symptoms of conditions, especially when it comes to taboo topics such as menstrual and sexual health,” stated VP of Product, Cath Everett. “Our users often come to Flo for period or ovulation tracking, and stay for the wealth of science-backed content, expert-led courses and accurate cycle predictions. We’re fortunate to partner with the top universities and conduct cutting-edge medical research. With this funding, we’ll be able to further democratize access to credible health information, helping people better understand their unique signs and symptoms on an even larger scale.”
With a neighborhood of over 200 million customers, coming from all corners of the world, Flo has gained important traction. In the final twelve months, Flo has skilled hyper-growth: the app has elevated its energetic subscribers’ base 4 occasions reaching 1.5M in August 2021. By the tip of 2021 Flo goals to attain $100M Annual Run Rate. Flo’s enterprise mannequin is solely subscription-based. The firm just lately launched Flo as a profit to US employers to higher assist ladies within the office with the assets they want to thrive — bodily and mentally, experiences Globe Newswire.
“Flo is a category-defining company in the femtech industry,” stated Alexander Frolov, CEO and Co-founder of Target Global. “As of this year, we’re just starting to see a shift in startups addressing specific female health conditions — but there are very few companies that are addressing the root causes of these conditions. Flo’s proactive platform is ahead of the curve, and has raised the bar for what consumers should expect from consumer health apps.”
Flo supplies curated cycle monitoring and predictions, personalised well being insights, and real-time well being alerts based mostly on tracked signs in an easy-to-use interface. Over 1 billion menstrual cycles have been tracked inside the app, and 95% of customers say Flo contributed to their general well-being³. To date, 27.7 million ladies obtained pregnant whereas utilizing Flo. With over 200M of Flo customers, each tenth lady between ages 15 to 49 on the earth manages her cycle utilizing the app.
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“Flo’s long-term value and impact on its users is truly unmatched in the industry,” stated Per Brilioth, CEO of VNV Global. “With its deep medical expertise and advanced product, Flo is addressing a critical gap in preventative care, an area that has been neglected for far too long. Flo’s strong position in this space and already impressive user base make the company well-positioned to continue to be a pioneer and true market leader over the coming years. We couldn’t be more thrilled to contribute to the next stage of its evolution.”