Flo Health is the number 1 downloaded women’s health app globally. The company has recently announced that it has successfully raised over $200 million in Series C funding from leading global growth investor General Atlantic, elevating its valuation to over $1 billion. This makes it the first digital consumer women’s health app to achieve unicorn status.
Expanding Women's Health Support
The Flo app is dedicated to supporting women's health at all stages, including menstruation, conception, pregnancy, and menopause. The platform empowers users to manage their health effectively and incorporates a team of over 120 experts, including doctors and other health professionals.
It offers users comprehensive cycle and ovulation tracking, symptom monitoring, and tailored health insights, as well as educational resources and community support.
New Initiatives and Future Growth
Flo has recently introduced a new feature, ‘Flo for Partners,’ designed to empower and educate partners with insights into menstrual and reproductive health. The company plans to use the new Series C funding to broaden its focus to include perimenopause and menopause, improve its technology-driven health insights, and pursue strategic growth opportunities.
Strengthening Global Presence
Flo aims to achieve its growth objectives by expanding its R&D workforce and investing in top-tier talent across North America and Europe. Along the way, it will benefit from General Atlantic’s expertise in scaling businesses within healthcare, consumer technology and subscription models.
A milestone in the FemTech Industry
With over eight years of continuous expansion, Flo’s advancement highlights the swift growth and evolution of the FemTech sector, which has evolved from a niche market into an industry expected to reach $60 billion by 2027.
As of June 2024, the platform had almost 70 million monthly active users and around 5 million paid subscribers, with gross revenue projected to exceed $200 million in 2024, which represents a year-over-year increase of approximately 50%.
Industry Reactions and Future Outlook
Dmitry Gurski, co-founder and CEO of Flo Health, has expressed that the company's mission to prioritize women's health globally makes the achievement of unicorn status a significant milestone for both the company and the wider FemTech industry.
Flo’s chief medical officer, Anna Klepchukova, emphasized the company’s commitment to advancing women’s health and preventive care, and Jessie Cai from General Atlantic highlighted Flo’s leadership potential in women’s health innovation.
Advisory and Board Additions
As part of the transaction, Jessie Cai and Tanzeen Syed from General Atlantic will join Flo’s Board of Directors. GP Bullhound advised Flo Health on the capital raise and has hailed the deal as a major milestone in the FemTech sector, highlighting Flo Health’s role in transforming digital women’s health.
Conclusion
Women’s health tech continues to gain momentum, with users and investors following. Flo Health’s achievement of unicorn status following its recent funding round success highlights the rapid evolution of the FemTech industry and reinforces Flo's pivotal role in transforming digital women’s health. This milestone marks significant growth for the company while also signifying the expanding impact and recognition of FemTech in the healthcare sector.
