Saturday, November 9, 2024

London-based femtech Flo Well being secures greater than €180 million Sequence C and achieves unicorn standing

Flo Well being, probably the most downloaded girls’s well being apps worldwide, introduced it has raised greater than €180 million in a Sequence C funding from Normal Atlantic. This minority funding propels Flo’s valuation past $1 billion, making it the primary purely digital client girls’s well being app to attain unicorn standing, based on the corporate. 

Flo is dedicated to supporting girls at each stage of their well being journey, from menstruation to conception, being pregnant, and menopause. With over 120 docs and well being specialists, Flo’s all-in-one platform presents curated cycle and ovulation monitoring. Customers can monitor over 70 signs and entry varied options designed to reinforce their understanding and administration of their well being. Flo additionally supplies customers with tailor-made well being insights, professional ideas, day by day bite-sized visible content material, and entry to a personal digital dialogue neighborhood targeted on well being and wellness-related matters. 

“Reaching unicorn standing is a big milestone for Flo and the complete femtech business,” mentioned Dmitry Gurski, co-founder and CEO of Flo Well being. “After we began Flo, we recognized an enormous hole in girls’s well being companies. Now, we’re a pacesetter in a world motion to make girls’s well being a precedence in all places. We’re dedicated to constructing a greater future for feminine well being, the place each girl feels understood and supported, no matter her location or financial standing.”

Flo’s partnership with Normal Atlantic will assist place Flo for its subsequent section of development, with a concentrate on increasing into new person segments together with perimenopause and menopause, enhancing its tech-driven well being insights, and pursuing strategic enlargement alternatives. 

To help these bold targets, Flo intends to extend R&D headcount with investments in top-tier expertise throughout its world workplaces in Europe and North America. Flo additionally intends to leverage Normal Atlantic’s vital experience in scaling firms on the intersection of client expertise, healthcare, and subscription enterprise fashions.  

Flo’s development has been vital, after greater than eight years of steady enlargement. As of June 2024, the corporate helps almost 70 million month-to-month energetic customers (MAUs) and shut to five million paid subscribers. This fast development is additional mirrored in Flo’s gross bookings for 2024, that are anticipated to exceed $200 million this yr – an roughly 50% year-over-year enhance. 

Jessie Cai, Principal at Normal Atlantic, commented: “We’ve been fortunate sufficient to observe the Flo group over the previous 5 years construct a beloved, mission-critical app for girls globally, and now we’ve the lucky alternative to associate with Dmitry and his group. We consider Flo is a class chief and stay up for leveraging our deep experience throughout disruptive client expertise and subscription platforms to help the corporate’s continued development.”

“This funding accelerates Flo’s mission to revolutionize girls’s well being,” added Anna Klepchukova, Chief Medical Officer of Flo Well being. “With girls spending 25% extra of their lives unwell in comparison with males, we’re dedicated to altering this unacceptable establishment. Because the #1 OB-GYN-recommended cycle monitoring app, Flo empowers customers with tailor-made well being insights, enabling better-informed conversations with healthcare suppliers. With 1 in 4 US girls utilizing Flo, our platform is uniquely positioned to convey girls’s well being into the twenty first century, all whereas sustaining the very best requirements of medical credibility, information privateness, and person belief.”

As a part of the transaction, Tanzeen Syed, Managing Director and Head of Shopper Web and Know-how at Normal Atlantic, and Jessie Cai, will be part of Flo’s Board of Administrators. Flo Well being was suggested by GP Bullhound on their capital elevate. The transaction is topic to customary closing situations.


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