Flo Health Secures $200M Investment, Just the Start for Femtech Unicorns

In a monumental stride for women’s health technology, Flo Health has secured over $200 million in a Series C investment from General Atlantic, catapulting the company to unicorn status with a valuation surpassing $1 billion. This achievement marks Flo as the first purely digital consumer women’s health app to reach this milestone, setting a new benchmark in the rapidly growing femtech industry.

Flo Health, renowned as the world’s most downloaded women’s health app, offers comprehensive support for women at all stages of their health journey, from menstruation to conception, pregnancy, and menopause. The app’s robust platform, backed by over 120 doctors and health experts, enables users to track over 70 symptoms and provides personalized health insights, expert tips, and engaging visual content. A unique feature, ‘Flo for Partners,’ launched in 2023, further empowers users by educating their partners about menstrual and reproductive health with scientific precision. The app’s innovative ‘Anonymous Mode’ feature, recognized as one of Time’s Best Inventions of 2023, underscores Flo’s commitment to safeguarding sensitive health information.

The partnership with General Atlantic, a global growth investor, is poised to propel Flo into its next growth phase. Plans include expanding into new user segments such as perimenopause and menopause, enhancing tech-driven health insights, and pursuing strategic growth opportunities. The investment will also bolster Flo’s R&D capabilities, with significant investments in top-tier talent across its global offices in Europe and North America. General Atlantic’s expertise in scaling consumer technology and healthcare businesses will be instrumental in supporting Flo’s ambitious goals.

A Rising Tide: The Surge of Femtech Brands

The femtech sector, once a niche market, has experienced exponential growth over the past decade, transforming into a projected $60 billion industry by 2027. This evolution highlights the increasing recognition and investment in technologies dedicated to women’s health and well-being. Flo Health’s success exemplifies this trend, showcasing how femtech brands are revolutionizing healthcare by addressing gaps in services traditionally overlooked by mainstream medical practices.

Flo’s Vision: A Future of Empowered Women’s Health

Dmitry Gurski, co-founder and CEO of Flo Health, expressed his excitement about this new chapter: “Reaching unicorn status is a significant milestone for Flo and the entire femtech industry. Our mission is to make women’s health a priority globally. We’re already supporting hundreds of millions of women, and our goal is to reach 1 billion through our global pro-social program, offering free access to Flo Premium in 66 countries.”

This ambitious initiative, known as the Pass it on Project, aims to enhance health literacy and support women worldwide, particularly in underserved regions. Nearly 12 million women have already benefited from free access to Flo Premium, and the company is committed to expanding this reach.

Jessie Cai, Principal at General Atlantic, echoed this sentiment: “We are excited about Flo’s vision and the innovation ahead. We believe Flo is a category leader and look forward to supporting its continued growth in the broader women’s health and wellness ecosystem.”

Pioneering a Healthier Future for Women

Flo Health’s Chief Medical Officer, Anna Klepchukova, emphasized the app’s role in transforming women’s health: “With women spending 25% more of their lives in poor health compared to men, we’re committed to changing this unacceptable status quo. Flo empowers users with tailored health insights, fostering better-informed conversations with healthcare providers and encouraging proactive health management.”

With a staggering 70 million monthly active users and close to 5 million paid subscribers as of June 2024, Flo Health is uniquely positioned to bring women’s health into the 21st century. The app’s success is a testament to the growing demand for innovative, tech-driven solutions in healthcare, and its journey reflects the broader momentum of the femtech movement.

Flo Health’s recent investment and continued expansion signify a hopeful future for women’s health. As the company pioneers new advancements and reaches new heights, it remains dedicated to building a world where every woman feels understood and supported, regardless of her location or economic status.