Total amount raised
$275.8 Million
Latest funding date
7/1/2024
Location
Flo Health has successfully raised funds through six distinct funding rounds, with the latest being a Series C round led by General Atlantic and Target Global. The company has garnered the support of 13 investors, reflecting strong confidence in its women's health app that offers 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 is a prominent player in the women's health technology sector, developing an app that offers features such as period tracking, ovulation tracking, and pregnancy support. The company is based in London, England, and has a team of 251-500 employees.
Founded with a mission to provide personalized health insights and a private community for women, Flo Health has grown to serve over 420 million users globally. The app is supported by a team of over 100 doctors, scientists, and medical experts, ensuring the delivery of medically credible information.
How Much Funding Has Flo Health Raised?
- Seed Round
- Amount Raised: USD 1,000,000
- Date: December 2016
- Lead Investors: Flint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the Flo Health app and establish a foothold in the women's health tech market.
- Series A Round (August 2017)
- Amount Raised: USD 5,000,000
- Date: August 2017
- Lead Investors: Flint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the app's features and improve user experience.
- Series A Round (October 2018)
- Amount Raised: USD 12,000,000
- Date: October 2018
- Lead Investors: Mangrove Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the app's user base and enhance its technological capabilities.
- Series A Round (May 2019)
- Amount Raised: USD 7,500,000
- 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 expand its medical team.
- Series B Round
- Amount Raised: USD 50,000,000
- Date: September 2021
- Lead Investors: Target Global, VNV Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the app's growth strategy and enhance AI-driven health insights.
- Series C Round
- Amount Raised: USD 200,000,000
- 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: USD 275,500,000. 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. They have over four decades of experience and manage approximately $84 billion in assets.
- Investment Focus Areas: Consumer technology, healthcare, subscription business models.
- Notable Investments: Airbnb, Alibaba, Uber.
- Target Global
- Details: Target Global is an international investment firm headquartered in Berlin, with over $1 billion in assets under management. They focus on backing technology companies across various stages.
- Investment Focus Areas: Fintech, mobility, health tech.
- Notable Investments: Auto1, Delivery Hero, WeFox.
- VNV Global
- Details: VNV Global is a Swedish investment company that focuses on investing in high-growth technology companies. They have a strong track record in identifying and supporting disruptive businesses.
- Investment Focus Areas: Digital health, mobility, marketplaces.
- Notable Investments: Babylon Health, BlaBlaCar, Gett.
- Elysium Venture Capital
- Details: Elysium Venture Capital is a venture capital firm that invests in early-stage technology companies. They are known for their hands-on approach and strategic support.
- Investment Focus Areas: AI, fintech, health tech.
- Notable Investments: Flo Health, Revolut, TransferWise.
- Mangrove Capital Partners
- Details: Mangrove Capital Partners is a venture capital firm that invests in innovative technology companies. They have a global presence and a strong focus on early-stage investments.
- Investment Focus Areas: Internet, software, health tech.
- Notable Investments: Skype, Wix, Flo Health.
What's Next for Flo Health?
Flo Health stands at the cusp of significant opportunities, driven by its recent $200 million investment. The company aims to expand its services to include perimenopause and menopause, targeting a market of 450 million women. Additionally, Flo Health plans to leverage AI to enhance personalized health insights, aiming to reach 1 billion women globally through its pro-social program.
Future fundraising opportunities appear promising, with potential for additional rounds to support further expansion and technological advancements. Strategic partnerships and acquisitions could also play a role in scaling the business and enhancing its offerings. The femtech industry, projected to grow to $60 billion by 2027, provides a fertile ground for Flo Health's continued growth.
However, challenges such as maintaining data privacy, navigating regulatory environments, and competing with other health tech companies could pose hurdles. Ensuring user trust and engagement will be crucial as Flo Health continues to innovate and expand its reach in the women's health sector.
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