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Clue, a female-femtech startup backed by Revolut investors, exceeds its €1M crowdfunding goal

Clue founders
Image credits: Clue

Berlin-based period tracker and reproductive health companion Clue has set a new record for female investor participation in its latest crowdfunding campaign on Crowdcube. The campaign, which is still open until May 11, had already achieved its target of €1M on May 3, ahead of schedule. With over 4,950 investors participating, this is the highest number of investors on Crowdcube so far in 2023.

The Clue community of investors is dominated by women, with 86% of investors being female – a significant increase compared to the 20% average for campaigns on Crowdcube. Furthermore, 84% of these investors are under 40 years of age, indicating a strong interest in Clue’s offerings among younger generations. Investors from across the UK and EU have invested anywhere from €10 to €100K, becoming partial owners of the business. Notably, Crowdcube investors receive the same terms as institutional investors.

Clue’s latest funding round which was announced last month was led by London-based Balderton Capital which is one of the Revolut backers, and New York-based Union Square Ventures. The institutional funding for this round was €7 million. Clue’s success in attracting significant female investor participation highlights the growing interest in women’s health tech startups and the increasing role of crowdfunding in financing these ventures.

Carrie Walter, co-CEO of Clue, said: “Clue is backed by some of the world’s leading investors, who understand empowering women with knowledge and data to take charge of their reproductive health is a huge opportunity. As the first menstrual and reproductive health app to invite our community to invest and become co-owners, we are taking this one step further. We’re delighted to see the response of so many female investors – people who intuitively understand the problem we are solving and why Clue is so well positioned to redefine access to better health and care.”

Audrey Tsang, co-CEO of Clue, commented: “The record-breaking female participation in our crowdfunding shows the impact Clue has made to date, and how our users – and the wider female population – see the company’s potential. This campaign brings our most important stakeholders – our community – even closer to our product development. And given female investors often have less access to investment opportunities, we’re excited to attract more female investors to share in Clue’s future success.”

Provides reproductive health information to women

Founded in 2012 by Ida Tin, Hans Raffauf, Mike LaVigne and Moritz von Buttlar, Clue helps women to better understand their menstrual cycle patterns and learn about their reproductive health.

The basic period tracking features are available for free but the premium subscription called “Clue Plus” offers subscribers additional evidence-based features and advanced insights. Further, subscribers can also access modes like Clue Conceive, a CE-marked Clue feature to accompany users on their conception journey.

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