London-based Flo Health, a provider of a popular women’s health app, announced Tuesday that it has raised more than $200 million in a Series C round backed by General Atlantic.
The financing sets a valuation of over $1 billion for the company, making it, in Flo’s words, “the first purely digital consumer women’s health app to achieve unicorn status.” To date, Flo has raised at least $275 million in known funding.
Founded in 2015, Flo has since cemented its status as the most widely recognized and used among a larger cohort of women’s health apps. Although best known as a tool for tracking ovulation and menstrual cycles, the app also provides a host of other health information for users.
Revenue has followed as well. Currently, the company says it supports close to 70 million monthly active users and close to 5 million paid subscribers. Bookings are expected to exceed $200 million in 2024 — a roughly 50% year-over-year increase.
Flo’s round is the biggest of several large financings in recent quarters for women’s health-focused startups. Using Crunchbase data, we put together a sample list of 12 such funding rounds from the past two years.
Standouts on the list include:
- Maven Clinic, a digital health platform for women’s and family health, has raised $292 million to date, including a $90 million Series E in late 2022.
- Kindbody, a fertility clinic that offers its services as an employee benefit, has raised more than $200 million in equity funding to date.
- Gynesonics, a developer of an incisionless procedure for treating intrauterine fibroids, has raised more than $300 million in equity funding to date.
- Natural Cycles, a healthcare app that uses body temperature to track fertility status, raised $55 million in a May Series C round.
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Illustration: Dom Guzman
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