Market leading women’s health start-up Flo Health announced it has completed a Series A Extension round. This brings Flo’s total Series A funding to $12 million, with a $200 million valuation. The funding round is led by Mangrove Capital Partners, an early backer of Skype and Wix, with participation from existing investors Flint Capital and Haxus.
“We are delighted to invest in Flo, the leading women’s health mobile application,” said David Waroquier, Partner at Mangrove. “We believe strongly in the company’s vision and ambitious plans. The team shows impressive capabilities in using the power of data to interact with their users and in achieving superior retention rates, rarely seen in other app solutions.”
Yuri Gurski, founding partner at Haxus, comments on the deal: “Female health is the number 1 priority for the entire Flo team. Thanks to Flo's accurate predictions, millions of women managed to conceive and become parents. I am proud that Flo brings real value, and as an entrepreneur, I am glad that this is a financially successful business.”
The freshly raised funds will be used to fuel Flo’s next growth phase and product improvement. Flo’s goal is to become the most recognized female product with 100 million monthly active users. The spotlight will be placed on providing a highly personalized experience for every user based on their age, health goals, overall physical condition. With different in-app modes, Flo encompasses solutions for girls and women at every stage of life - from the onset of menstruation to preparation for pregnancy and motherhood to menopause. Flo’s neural networks and proprietary AI-based algorithms will not only improve cycle predictions, but also detect disturbing symptoms and proactively help the user cope with them by advising when to see a doctor or providing relevant health insights. Another ambition is to develop the world’s biggest women’s community, where users can share and discuss their most intimate concerns anonymously, and get advice and support.
Launched in October 2015, Flo has been downloaded over 60 million times, with 22 million users using the app monthly. The company managed to more than double these numbers in one year. This makes Flo number 1 female health product by active audience in the USA. Currently, the user base grows by 4,5 million installs per month. Over 4 million women got pregnant with Flo so far, and the number keeps growing by 500,000 each month.
Currently, Flo team counts 100+ specialists, 70% are women. Flo combines engineering excellence and medical expertise to create a trusted digital health solution that accompanies users along the entire journey of the reproductive cycle. Today, Flo gets support and advice from leading experts in obstetrics, gynecology and reproductive medicine.
Besides product development, the money will help grow the team, as well as establish new scientific and research partnerships with leading associations and medical universities to advance women’s health.Back to the news