Period tracking company Flo raises $200M at a $1B valuation
Illustration: Aïda Amer/Axios
Flo Health, an app to help people track menstrual cycles, raised a $200 million-plus Series C from General Atlantic at a $1 billion-plus valuation.
Why it's the BFD: It's the first time a pure-play digital women's health company has reached unicorn status.
How it works: The London company, founded in 2015, supports users from conception through pregnancy and menopause.
- It provides curated cycle and ovulation tracking, along with health insights, visual and educational content and a private community for users to share their questions and concerns.
- Users can choose between a free version and a premium subscription offering additional features and insights for $59.99 per year. Flo also has a $79.99 annual family plan.
What's next: With the fresh funds, the company will expand into new user segments, including people in perimenopause and menopause.
- The company is now in a strong position to consider potential M&A opportunities, CEO Dmitry Gurski tells Axios.
- "We're specifically looking at companies and technologies that can accelerate our ability to provide personalized health insights," he adds.
By the numbers: As of June 2024, the company supported nearly 70 million monthly active users and close to 5 million paid subscribers.
- Flo's gross bookings for 2024 are expected to exceed $200 million this year — approximately a 50% year-over-year increase.
- The company had raised $99.45 million prior to this round.
- "Flo is already generating positive cash flow and this investment significantly strengthens Flo's financial position and growth trajectory," Gurski says.
Follow the money: Though not digital health plays, the fertility and family health sector has birthed at least two unicorns in the last few years.
- Fertility clinic operator and employer benefits provider Kindbody raised $100 million at a $1.8 billion valuation in March 2023.
- Virtual maternal and family health unicorn Maven Clinic has raised $90 million in Series E in Nov. 2022.
State of play: Fertility and health tracking companies continue to rake in VC dollars.
- Aster, a pregnancy care and tracking platform, raised $2.4 million in pre-seed money in January.
- Virtual maternal care company Pomelo Care raised a $46 million Series B in June.
- Dandi, the maker of an at-home IVF kit and a virtual care provider, raised $1.3 million in pre-seed funding in May.
