Flo Health, the UK-based fertility app, has raised more than $200 million in a Series C investment from New York-based global growth investor General Atlantic. The private equity group is known for previously backing fast-growing technology companies including Alibaba, Stripe, Facebook, and ByteDance. With this investment, the first fully digital female health startup’s valuation has surpassesed $1 billion, making it the first women’s health app to achieve unicorn status.
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This investment will help position Flo, world’s largest period and fertility tracker by user numbers for its next phase of growth in the estimated 450 million menopausal women market, with a focus on expanding into new user segments, including perimenopause and menopause. The company also intends to increase its R&D headcount with investments in top-tier talent across its global offices in Europe and North America.
As part of the transaction, Tanzeen Syed, Managing Director and Head of Consumer Internet and Technology at General Atlantic, and Jessie Cai, will join Flo’s Board of Directors.
Jessie Cai, Principal at General Atlantic, commented, “We have been lucky enough to watch the Flo team over the past five years build a beloved, mission-critical app for women globally, and now we have the fortunate opportunity to partner with Dmitry and his team. We are excited about their big vision and the innovation ahead for the broader women’s health and wellness ecosystem. We believe Flo is a category leader and look forward to leveraging our deep expertise across disruptive consumer technology and subscription platforms to support the company’s continued growth.”
Reportedly, women spend 25% more of their lives in poor health compared to men. The UK-based femtech unicorn Flo Health is committed to changing this and works with the mission to revolutionise women’s health. The sector, which once attracted minimal venture capital a decade ago, is now projected to be a $60 billion industry by 2027.
Founded by Dmitry Gurski and Andrew Kovzel in 2016, Flo is one of the world’s popular one-stop health apps for women during their entire reproductive life cycle, from first periods to menopause, from pregnancy to young moms. Flo aims to reshape the industry by democratising access to trusted and relevant health information from a secure community of experts. It uses AI to deliver the most personalised cycle predictions available for each individual.
With over 120 doctors and health experts, the Clue rival has an all-in-one platform that offers curated cycle and ovulation tracking. Users can monitor over 70 symptoms and access various features designed to enhance their understanding and management of their health. Flo also provides users with tailored health insights, expert tips, daily bite-sized visual content, and access to a private digital
It is touted to be the world’s largest period and fertility tracker by user numbers. The company claims that it had nearly 5 million paid subscribers as of last month. Its subcriptions start from £4.99 monthly in the UK and the revenue from the same is said to surpass $200 million this year.
“Reaching unicorn status is a significant milestone for Flo and the entire femtech industry,” said Dmitry Gurski, co-founder and CEO of Flo Health. “When we started Flo, we identified a huge gap in women’s health services. Now, we’re a leader in a global movement to make women’s health a priority everywhere. We’re already helping hundreds of millions of women, and our goal is to reach 1 billion women through our global pro-social program. This initiative provides free access to Flo Premium across 66 countries, including India, Indonesia, and Nigeria, with nearly 12 million women already benefiting. We’re committed to building a better future for female health, where every woman feels understood and supported, regardless of her location or economic status. This investment from General Atlantic will help propel Flo Health’s growth as we continue normalising conversations about women’s health, improving health literacy, and raising awareness of women’s health issues worldwide, especially in underserved regions. ”
“This investment accelerates Flo’s mission to revolutionise women’s health,” said Anna Klepchukova, Chief Medical Officer of Flo Health. “With women spending 25% more of their lives in poor health compared to men, we’re committed to changing this unacceptable status quo. As the #1 OB-GYN-recommended cycle tracking app, Flo empowers users with tailored health insights, enabling better-informed conversations with healthcare providers. We serve as a tool for preventive care and health education, helping our users recognise potential issues early and encouraging proactive healthcare management. With 1 in 4 US women using Flo, our platform is uniquely positioned to bring women’s health into the 21st century, all while maintaining the highest standards of medical credibility, data privacy, and user trust.”
What do we think about Flo Health?
Flo Health is poised to transform women’s health on a global scale. With its AI-driven platform, the company offers personalised health insights and cycle tracking for women at all life stages. By expanding into new user segments and enhancing R&D, Flo aims to reach 1 billion women worldwide. Its commitment to improving health literacy and access to care positions it as a leader in the growing femtech industry, driving significant impact in underserved regions.
