Femtech firm Clue, which provides an app centered on menstrual cycle monitoring and reproductive well being, raised €7 million ($7.6 million) in funding led by current traders Union Sq. Ventures and Balderton Capital.
The corporate additionally introduced it might enable customers to develop into traders within the firm through British funding crowdfunding platform Crowdcube. Customers who make investments may take part in and affect the app’s growth by way of polls, testing and boards with the Clue crew.
WHAT THEY DO
The Berlin-based firm provides reproductive well being companies from interval to being pregnant monitoring.
The funds shall be used to broaden the corporate’s product portfolio, scale its digital household planning providing and proceed its analysis efforts.
“Constructing on a spherical led by our improbable traders Balderton Capital and Union Sq. Ventures, opening the doorways to neighborhood traders will actually contain our consumer neighborhood in our journey and success in a means that is so true to Clue,” the corporate’s co-CEO Audrey Tsang advised MobiHealthNews in an electronic mail.
“The ladies’s well being expertise has at all times been marginalized. The truth that it nonetheless takes a median of seven years to get an endometriosis analysis is only one instance of how a lot work there nonetheless is to do on this area. We’re out to vary that at Clue, and we would like our consumer neighborhood concerned.”
MARKET SNAPSHOT
In 2021, Clue received FDA 510(k) clearance to launch Clue Delivery Management, an all-digital type of contraceptive that depends on interval monitoring knowledge. It subsequently acquired €16 million ($17.5 million) in funding to roll out its app within the U.S. and introduced its founder Ida Tin would step down with co-CEOs Audrey Tsang and Carrie Walter taking the position.
Clue was not proof against the massive layoffs seen across the tech trade. Walter announced on LinkedIn that it was decreasing the scale of its workforce by one quarter earlier this yr.
Because the Supreme Court’s decision to overturn Roe v. Wade, there’s been a highlight on ladies’s reproductive well being, particularly in regard to data privacy and security within women’s health apps. Final yr, Clue responded to customers’ considerations through a blog post on their site, stating they don’t share customers’ well being knowledge.
Jennifer Gaudet Hefele will supply extra element within the HIMSS23 session “Leveraging the Knowledge of Crowds to Measure Healthcare High quality.” It’s scheduled for Tuesday, April 18 at 3 p.m. – 4 p.m. CT on the South Constructing, Degree 5, room S505.
