Flo Health, the women’s health app launched in 2015, offers an accurate and personalised menstruation and ovulation calendar thanks to the integration of machine learning, and has 70m active monthly users. It on 30 July that it had raised over $200m in Series C funding from General Atlantic, propelling it to unicorn status. GP Bullhound acted as exclusive advisor on the deal.
Flo Health, the first all-digital health assistant to support women’s health journeys, is a pioneer in the field of femtech, involving more than 120 medical experts. It caught the eye of Mangrove Capital Partners in 2018. The VC, which referred to Flo as a “rising star” at the time, led the Series A financing round, bringing the total funding to €12m at the time.
More recently, Flo Health’s anonymous mode was named one of the best inventions of 2023 and a finalist in Fast Company’s 2023 World Changing Ideas Awards in the “Rapid Response” category as part of the company’s commitment to privacy.
A valuation in excess of $1bn
“Reaching unicorn status is a significant milestone for Flo and the entire femtech industry,” commented 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.”
This investment pushes Flo Health’s valuation above one billion dollars and the partnership with General Atlantic will enable Flo Health to boost its next phase of growth, with the aim of targeting new user segments. As part of this, the femtech plans to increase its research and development staff.
“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.”
Target: 1bn users
The unicorn has no intention of stopping there, and is now aiming to reach 1 bn users through a project called “Pass it on,” which provides free access to Flo Premium in 66 countries, many of them in the global South. “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,” added Gurski.
This article was originally published in .