Fertility services for women have seen an influx of investment lately, culminating in the 2019 Progyny IPO. Learn more about startups that are already hugely popular in 2020.
From algorithms that predict the success of in vitro fertilization to fertility programs, women’s reproductive health companies span a wide range of healthcare services. While men’s health companies have brought in the lion’s share of funding in the past, investors have recently shown interest in women’s reproductive companies. These start-up companies raised massive funding two years ago, culminating in the October IPO of digital health company Progyny, which raised a total of $ 130 million.
If Progyny succeeds, it could pave the way for more companies to benefit fertility in the future. Here are five startups to look out for in 2020.
• CEO: David Schlanger
• Headquarters: New York.
• Investors: Kleiner Perkins Caufield and Byers (KPCB), TPG Biotech and SR One
Progyny has performed well since its public offering in October. Of all the digital health startups that went public in 2019, Silicon Valley Bank wrote that Progyny stock performed the best and is now priced at $ 29 per share, compared to an IPO price of $ 13 per share.
Progyny has created a Fertility Benefit Program that gives patients access to a network of healthcare facilities, a pharmacy for treatment, and a fertility expert. At the time of the IPO, more than 80 companies were using Progyny’s services. However, according to the latest SEC reports, the company still had a net loss of $ 8.2 million for the quarter ended September. It’s worth watching to see if more companies buy into Progyny’s benefits in the long run.
• CEO: Milen Yao
• Headquarters: Los Altos, California.
• Investors: rethink impact
In Vitro Fertilization can be a big bet. Costly procedures are often not covered by insurance, and success rates can vary greatly. Univfy is trying to make this risk more manageable for patients by using machine learning algorithms to give patients an idea of the likelihood of success. The company also partners with clinics to offer discount or reimbursement programs for IVF failures.
The startup, founded by obstetrician-gynecologist Milen Yao, raised $ 6 million in Serie A round in 2018. Since then, the company has partnered with BBVA to enable patients to pay for fertility treatments with loans at competitive interest rates. The company has also added more detail to its reports with information on the cumulative success rate of women with IVF, for example after two or three attempts.
• CEO: Sean Glass
• Headquarters: Arlington, Virginia
• Investors: Blue Mountain Capital Management, Deerfield
Advantia Health kicked off the new year with fresh funding, raising $ 45 million in January. The company focuses on the provider; Advantia acquired Obstetrics and Gynecology practices in the Midwest and East Coast. As of last month, 200 doctors worked in 50 offices.
Glass founded the company with his father in 2014. The idea was to create a company focused on the relationship between doctors and patients. Advantia also has a technical component; Last year, it acquired Pacify, a telemedicine startup providing postpartum support.
Following a large round of funding, Advantia also partnered with the West Virginia Women’s, Infant and Child Supplemental Nutrition Program (WIC) to provide 24/7 lactation support to women through the Pacify app. Look for Advantia to build more partnerships in the future.
• CEO: Catherine Ryder
• Headquarters: New York.
• Investors: Oak HC / FT, Sequoia Capital, Spring Mountain Capital, 8VC
New York-based startup Maven Clinic is taking a telemedicine approach to women’s health. The startup offers a virtual clinic that allows women to video chat or exchange messages with doctors, including obstetricians / gynecologists, pediatricians and mental health professionals.
In 2018, the startup raised $ 27 million in funding led by Sequoia Capital and Oak HC / FT to build its platform.
In addition to telemedicine services, Maven also offers employer programs and health plans to help its members with maternity, adoption and return to work.