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Period-Tracking App Flo Raises $50 Million Series B

October 04, 2021 BeautyMatter
October 04, 2021
Flo

Flo closed $50 million in Series B financing, bringing the total capital raised to $65 million and the company valuation to $800 million.

WHO: Flo is the most popular women's health app globally, with 200 million downloads and 43 million people using it monthly. Flo supports women during their entire reproductive lives and provides curated cycle and ovulation tracking, personalized health insights, expert tips, and a private community for women to share their questions and concerns. The Flo health app is available in more than​ 20 languages on iOS and Android. With headquarters in London and a footprint across Europe and the US, the company’s employee base has more than doubled in the last two years to 350.

WHY: Flo plans to use the fresh capital to grow its team, hiring 200 employees over the next year across product, engineering, R&D, data science, and medical roles to enhance personalization and provide users with advanced cycle insights.

IN THEIR OWN WORDS: "Too often, people encounter misinformation when searching on the internet for signs and symptoms of conditions, especially when it comes to taboo topics such as menstrual and sexual health," said VP of Product Cath Everett. "Our users often come to Flo for period or ovulation tracking, and stay for the wealth of science-backed content, expert-led courses and accurate cycle predictions. We're fortunate to partner with the top universities and conduct cutting-edge medical research. With this funding, we'll be able to further democratize access to credible health information, helping people better understand their unique signs and symptoms on an even larger scale."

“Flo is a category-defining company in the femtech industry," said Alexander Frolov, CEO and co-founder of Target Global. "As of this year, we're just starting to see a shift in startups addressing specific female health conditions—but there are very few companies that are addressing the root causes of these conditions. Flo's proactive platform is ahead of the curve, and has raised the bar for what consumers should expect from consumer health apps.”

“Flo's long-term value and impact on its users is truly unmatched in the industry," said Per Brilioth, CEO of VNV Global. "With its deep medical expertise and advanced product, Flo is addressing a critical gap in preventative care, an area that has been neglected for far too long. Flo's strong position in this space and already impressive user base make the company well-positioned to continue to be a pioneer and true market leader over the coming years. We couldn't be more thrilled to contribute to the next stage of its evolution.”

DETAILS:

  • Flo closed a $50 million Series B round of funding valued at $800 million.
  • The round was led by VNV Global and Target Global.
  • This round brings the total capital raised to $65 million.
  • Flo was the most downloaded health app in the App Store in 2020.
  • The app has increased its active subscriber base 4 times, reaching 1.5MM in August 2021. Flo's business model is purely subscription based.
  • By the end of 2021, Flo aims to reach a $100 million annual run rate.
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