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Exclusive: Evvy gets $14M for vaginal health tests

Illustration of a woman in a hospital gown made from a one hundred dollar bill sitting on an examination bed.

Illustration: Gabriella Turrisi/Axios

Evvy, a New York City-based vaginal health startup, raised $14 million in Series A funding, CEO Priyanka Jain tells Axios exclusively.

Why it matters: Vaginal discomfort is a leading reason that women seek healthcare advice in the U.S., with misdiagnosis and recurrence rates higher than 50%.

Details: The round was led by Left Lane Capital and also included participation from General Catalyst, Labcorp Venture Fund, RH Capital, Ingeborg Investments, G9 Ventures, Virtue, and Amboy Street Ventures.

How it works: Launched in 2021, Evvy offers a direct-to-consumer, at-home vaginal microbiome test.

  • The cost is $129 for a single test for non-members. Members pay $99 per test and receive four per year, shipped every three months, as well as free one-on-one virtual coaching.
  • Evvy's platform tests for bacterial infections, microbes that could be associated with infertility and pre-term birth, changes in estrogen, antibiotic resistance, and sexually transmitted infections.
  • The company serves more than 20,000 patients but it is not currently covered by insurance.

What they're saying: "Evvy's groundbreaking platform is changing the way we understand and care for the female body," says Left Lane Capital vice president Laura Sillman.

  • "There are signals that female bodies are giving off, and we want to leverage our data set and capabilities to improve outcomes across the board," says Jain.

What's next: Series A proceeds will help Evvy invest in clinical studies and develop guidelines for its diagnostic platform.

  • "Those types of things have high costs upfront, but they change outcomes and scale and they change the path to profitability," Jain says.
  • "We could get to profitability quickly or we can invest in the research and change the system at scale and really achieve our mission," she adds.

The intrigue: Evvy created Equal Research Day (like Equal Pay Day but for the gender health gap), focused on championing research and education about women's health.

Catch up fast: The company has raised $19 million total to date and was valued at $56 million as of last month, according to PitchBook.

  • Jain declined to comment on the current valuation.

State of play: While women's health has been historically underfunded, investor dollars have begun to flow into the space.

  • Mavida Health, a Los Angeles-based maternal mental health platform, raised $1.5 million in pre-seed funding.
  • Pumpspotting, a Kittery, Maine-based community-driven breastfeeding support platform, raised $2.2 million in seed funding.
  • HerMD, a Cincinnati-based women's health provider focused on menopause, raised $18 million in Series A-1 round.
  • Pomelo Care, a virtual maternal and infant health medical practice, raised $33 million.
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