Total amount raised
$275.8 Millions
Latest funding date
Location
Flo Health has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company has leveraged these investments to enhance its women's health app, offering features like cycle tracking, health insights, and a private community.
Keep reading to explore the intricacies of Flo Health's fundraising journey and the investors backing this innovative platform.
What Is Flo Health?
Flo Health, founded in 2015 in London, England, is a company dedicated to women's health through its innovative app. The app offers features such as cycle tracking, health insights, and a private community, supporting women throughout their reproductive lives.
The company was founded by Andrew Kovzel, Dmitry Gurski, Max Scrobov, and Yuri Gurski. Their vision was to create a trusted digital source for women's health information, prioritizing safety and privacy.
Flo Health has grown significantly since its inception, now employing between 251 and 500 people. The app is available in over 20 languages and has become a global leader in women's health technology.
How Much Funding Has Flo Health Raised?
- Seed Round
- Amount Raised: $1M
- Date: December 2016
- Lead Investors: Flint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the app and validate the market need for a women's health platform.
- Series A
- Amount Raised: $5M
- Date: August 2017
- Lead Investors: Flint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the app's features and grow the user base.
- Series A
- Amount Raised: $12M
- Date: October 2018
- Lead Investors: Mangrove Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the app's technology and expand into new markets.
- Series A
- Amount Raised: $7.5M
- Date: May 2019
- Lead Investors: Elysium Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the app's health insights and community features.
- Series B
- Amount Raised: $50M
- Date: September 2021
- Lead Investors: Target Global, VNV Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the app's user base and enhance its data analytics capabilities.
- Series C
- Amount Raised: $200M
- Date: July 2024
- Lead Investors: General Atlantic
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand into new user segments, enhance tech-driven health insights, and pursue strategic expansion opportunities.
Total Amount Raised: $275.5M. Current Valuation: Over $1 billion.
Key Investors
- General Atlantic
- Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. The firm has a history of investing in companies that are leaders in their respective markets.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Airbnb, Alibaba, ByteDance, Uber.
- Target Global
- Details: Target Global is a pan-European venture capital firm investing in fast-growing tech companies. The firm has a strong presence in the European tech ecosystem.
- Investment Focus Areas: Mobility, fintech, health tech.
- Notable Investments: Auto1, Delivery Hero, WeFox.
- VNV Global
- Details: VNV Global is an investment company focused on high-growth tech companies. The firm has a particular interest in emerging markets.
- Investment Focus Areas: High-growth tech companies, emerging markets.
- Notable Investments: Babylon Health, BlaBlaCar, Gett.
- Elysium Venture Capital
- Details: Elysium Venture Capital is a venture capital firm investing in early-stage technology companies. The firm focuses on innovation and disruptive technologies.
- Investment Focus Areas: Early-stage technology, innovation.
- Notable Investments: Specific notable investments are not listed.
- Mangrove Capital Partners
- Details: Mangrove Capital Partners is a venture capital firm investing in early-stage internet and software companies. The firm has a track record of backing successful startups.
- Investment Focus Areas: Early-stage internet, software companies.
- Notable Investments: Skype, Wix, WalkMe.
What's Next for Flo Health?
Flo Health stands at the cusp of significant opportunities, driven by its recent $200 million Series C investment from General Atlantic. The company is poised to expand into new user segments like perimenopause and menopause, leveraging its position as the #1 downloaded women's health app worldwide. With the femtech industry projected to reach $60 billion by 2027, Flo Health's potential for growth is immense, particularly as it aims to reach 1 billion women globally through its pro-social program.
Future fundraising opportunities appear promising, with potential for additional venture capital rounds and strategic partnerships. The substantial backing from General Atlantic and the growing market interest in femtech suggest that Flo Health could even consider an IPO in the future. However, the company will need to navigate challenges such as maintaining user trust and data privacy, regulatory compliance, and competition from other health tech companies. Scaling operations while ensuring high standards of service will be crucial as Flo Health continues its journey.
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