Femtech Remains a Blue Ocean Market: 43 Companies Across 8 Categories, Dominated by Menstrual Care and Maternal Health

“Femtech” emerged as a buzzword in 2016. Typically, the emergence of an industry buzzword indicates that the sector is still in its nascent, blue-ocean stage of growth. Femtech companies primarily address women’s health issues, with a focus on fertility, pregnancy and postpartum care, sexual health, and reproductive system wellness, often leveraging companion applications to track outcomes.

Many top-tier venture capital firms, such as KPCB, have already entered this sector. Those who view Femtech as merely a niche market should consider this statistic: women constitute 49.5% of the global population.

Femtech startups have also attracted the attention of incubators such as Y Combinator (YC). Silicon Valley accelerator programs have supported several startups focused on women’s health, including iSono Health, Flex, and Nurx. Kat Manalac, a partner at YC, was initially cautious about these companies, stating in an interview, “My concern was that venture capital firms would not be interested in their products.” Surprisingly, Flex and Nurx emerged as two of the most successful ventures from this cohort of investments.

As the femtech sector rises, KPCB predicts that Femtech will become the next driver of economic growth. To this end, VCBeat (WeChat: vcbeat) has compiled a list of prominent overseas Femtech companies and introduces them across the following eight categories.

Definition: Startups providing IVF, egg freezing, and female infertility treatments.

Prelude was founded by Martin Varsavsky in 2015. The company offers a comprehensive fertility care solution, known as the “Prelude Method.” It consists of four steps: egg freezing and storage, embryo creation when clients are ready to conceive, comprehensive genetic screening for congenital diseases and chromosomal abnormalities, and single embryo transfer.

Prelude aims to reduce the overall cost of the process by offering a lower-cost, prepaid option, with egg freezing and storage services starting at just $199 per month. In October 2016, the company raised $200 million in private funding.

Rinovum is a private women’s health company that recently secured $30 million in financing. Stephen Bollinger serves as its CEO and President. The company’s flagship product, TheStork® OTC, is an innovative at-home device designed to support reproductive health by enabling patients to pursue natural conception and fertility treatments at home, thereby increasing the likelihood of pregnancy. This novel therapeutic approach has received FDA approval.

Celmatix, founded in 2009 and headquartered in New York, is a personalized medicine startup specializing in fertility big data that has completed its Series A financing. The company’s first product, Polaris, is built on a database containing data from hundreds of thousands of patients. Fertility specialists can compare patients’ individual fertility metrics against this database to develop more targeted treatment plans based on similar cases, thereby predicting and analyzing the conception methods with the highest likelihood of success. In January 2017, the company secured $12 million in Series A funding.

Founded in 2009 by Stanford University experts in reproductive medicine, embryo and uterine research, and biostatistics, Univfy is the global leader in predictive analytics for in vitro fertilization (IVF). By providing accurate, personalized predictions of IVF treatment success rates, Univfy enables patients to access the appropriate fertility pathways earlier and reduces IVF costs. The company’s patented predictive analytics have analyzed data from more than 150,000 IVF treatment cases and 500,000 embryos, with the aim of developing client-specific prediction models for top-tier IVF centers worldwide.

Headquartered in New York, Progyny is a digital health company primarily focused on in vitro fertilization (IVF) and fertility. In July 2016, the company completed its Series B financing round, raising approximately $15 million. The company launched a mobile application called Progyny Mobile, which provides access to Eeva, the first and only FDA-cleared embryo viability testing system.

Progyny Mobile provides users with goal-oriented services. For instance, after a user selects the egg freezing service, the app guides them step by step in making optimal decisions, such as comparing prices, distances to fertility centers, success rates, and other frequently asked questions.

Conceivable’s Fertility360 program has launched a robust fertility health application that can significantly improve certain fertility-related issues, such as cramps, irregular menstruation, prolonged menstrual cycles, malnutrition, and poor sleep quality. However, its greatest strength lies in helping to diagnose the factors affecting fertility, clarifying how these factors interact, and determining how to eliminate them. Fertility coaches provide remote guidance to patients via phone, assisting them in developing personalized plans that include dietary planning, behavior change strategies, and stress management.

Definition: Companies that provide solutions for tracking menstrual cycles and fertility cycles.

Berlin-based Clue developed a menstrual cycle tracking app in 2013, aiming to enhance the software’s intelligence by continuously adding detection categories. Initially, the company intended the app solely for tracking ovulation cycles, but many users employed it to monitor other aspects of reproductive health. Consequently, the company had to strengthen its machine learning capabilities to provide female users with more comprehensive tracking data. In November 2016, Clue secured $20 million in Series B funding.

Maya is a simple and fun period and fertility tracking app. The company was founded in 2011. It tracks menstrual cycles, related symptoms, mood swings, and overall health by monitoring data such as weight, temperature, medication, symptoms, and emotions. Currently, Maya has 6 million users and raised $750,000 in its latest funding round.

OW Health, a San Francisco-based digital health company focused on women’s health, raised $1 million in December 2016 to expand the reach of its menstrual cycle tracking app, Flo. Launched in October 2015, Flo is designed to help women track and accurately predict their menstrual cycles and ovulation days. Before using the app, users are required to input health information—including mood, contraception methods, PMS symptoms, and sexual activity—to set up calendar-based cycle reminders. Flo has approximately 2 million monthly active users.

This is an app designed to facilitate effortless contraception. It operates on the physiological principle that a woman’s basal body temperature rises after ovulation. By accurately tracking temperature data, users can determine when ovulation occurs and identify their fertile window. Meanwhile, Natural Cycles’ intelligent algorithm can discern whether elevated temperatures are caused by other factors, such as alcohol consumption or exercise. In July 2016, Natural Cycles secured $6 million in Series A funding, led by Bonnier Media Growth, the venture capital arm of the Swedish media company Bonnier Media.

Ovia Health, founded in June 2012, offers health-tracking devices and the “Ovia” mobile app. By collecting data on basal body temperature, cervical fluid analysis, mood status, as well as sleep, weight, nutritional intake, and daily activities, it performs algorithmic analysis to accurately predict women’s ovulation periods, thereby improving female fertility rates.

Notably, Ovia supports not only manual data entry but also automatic data collection through Fitbit devices, such as sleep cycles. In October 2016, it secured $10 million in venture capital funding, led by Martin Ventures, Zaffre Investments, and the investment arm of the health insurer Blue Cross Blue Shield of Massachusetts.

Definition: A medical company focused on women's sexual health issues.

Biotechnology company Evofem Bioscience, founded in 2009 and headquartered in San Diego, California, is currently led by CEO Saundra Pelletier. The company is dedicated to developing female healthcare products for reproductive health and contraception, such as the Nestorone contraceptive vaginal ring.

MPT (Multipurpose Prevention Technology) is an innovative therapeutic solution under development by Evofem Biosciences, focusing on women’s reproductive health, including contraception and the prevention of sexually transmitted infections. The company is developing products that are easy to use and affordable, with its patented vaginal gel being a key component of this initiative. The company has raised a total of $45 million in financing.

Minerva Surgical is a medical technology company headquartered in Redwood City, California. It is currently focused on developing products for the treatment of abnormal uterine bleeding (AUB), a condition that affects approximately one in five women. The company was founded in 2008 by a group of seasoned veterans from the medical device industry, who have successfully delivered numerous viable medical device-based treatment options for patients over the age of 40.

Symbiomix Therapeutics is a biopharmaceutical company founded in 2012, headquartered in New Jersey, with offices in Maryland and Connecticut. Symbiomix was established by a team of seasoned industry professionals and entrepreneurs and has garnered support from three of the world’s leading healthcare venture capital firms: OrbiMed, F-Prime Capital Partners, and HBM Partners. Currently, the company is dedicated to promoting novel therapeutics for prevalent gynecological infectious diseases.

Joylux, founded by Colette Courtion in 2013 and headquartered in Seattle, USA, is a consumer health-tech company dedicated to developing medical-grade LED products. The company’s flagship product is vSculpt, a home-use pelvic wellness device designed for women with pelvic floor disorders.

VSculpt utilizes infrared light-emitting diodes (LEDs) to deliver a unique combination of photothermal therapy and therapeutic vibration, modulating pelvic floor tissues and muscles to improve control, reduce dryness, and enhance sexual function. It also helps women restore vaginal tissue, increasing bladder sensitivity and lubrication, thereby improving overall sexual health.

ObsEva was founded in Switzerland in November 2012 as a clinical-stage biopharmaceutical company dedicated to the research and development of novel therapies for disorders affecting women’s reproductive health. Millions of women worldwide suffer from reproductive disorders, which impair their quality of life or fertility and are associated with frequent pregnancy complications.

ObsEva aims to meet the needs of these patients and improve current standards of care through innovative treatments in reproductive health, such as its OBE2109 gonadotropin-releasing hormone receptor antagonist, which is designed to address endometriosis and uterine fibroids.

Definition: Startups that provide medical care and diagnostics for pregnant women, as well as companies that manufacture high-tech breast pumps.

Bloomlife, a female fertility testing startup founded by Eric Dy in 2014, is headquartered in San Francisco, California. Both founder Eric Dy and CEO Julien Penders have backgrounds in biomedical engineering. The company is dedicated to integrating wearable pregnancy monitors with data analytics technology to provide prenatal data services for pregnant women.

Its core product is Belli, which uses adhesive patch sensors worn on a pregnant woman’s abdomen to monitor uterine contractions and transmit relevant data, such as duration and frequency, to a companion app. Unlike traditional ultrasound technology, Belli’s non-invasive electronic monitoring technology poses no harm to either the mother or the fetus. The current rental fee is $29 per month.

Moxxly Breast Pump, inspired by the team’s founders—two Stanford women, Gabrielle Guthrie and Cara Delzer. This is also the first product from their female-focused consumer goods design studio. The Moxxly breast pump can be integrated directly into clothing without the need for additional equipment, allowing mothers to express milk without removing their clothes. Additionally, its design integrates with a mobile app to record and monitor data in real time, enabling mothers to track their physical condition and understand their body’s general patterns.

Headquartered in Louisville, Kentucky, Lucina Health is dedicated to preterm birth analytics and women’s health. By leveraging the power of aggregated data and deep obstetric analytics, the company has fundamentally transformed care management, reducing preterm births and associated costs. Lucina’s data platform, Firefly, provides in-depth assessments of risks, environmental factors, and pregnancy complications. Integrated with MyLucina, a mobile application designed for expectant mothers, the company delivers personalized engagement and education to its users.

Sera Prognostics, a women’s health company based in Salt Lake City, Utah, is led by CEO Gregory C. Critchfield, M.D. The company offers blood-based diagnostic tests to predict preterm birth and monitor the risk of pregnancy complications. In January 2017, it secured $40 million in Series C financing.

In 2016, the company launched PreTRM, which was scheduled for nationwide testing in China in 2017 in collaboration with LabCorp. The test analyzes blood proteins to accurately predict preterm birth, helping to better understand its causes and develop new therapies to improve neonatal health. The company’s management team has extensive experience in clinical development and women’s healthcare diagnostics. Currently, Sera is collaborating with the Bill & Melinda Gates Foundation to translate its discoveries into technologies suitable for low-income countries, thereby improving the health of mothers and infants worldwide.

Naya Health, a startup developing smartphone-connected breast pumps, has launched a smart breast pump bottle with built-in sensors that automatically calculate milk volume. Its pumping system has received FDA clearance. While traditional breast pumps have been pneumatic, this water-driven pump is lightweight and noiseless. Janica Alvarez, Co-founder and CEO of Naya Health, stated that the hydraulic breast pump simulates the sensation of an infant nursing naturally. The smart hydraulic breast pump is priced at $599. The company has raised a total of $4 million in funding.

Totohealth leverages mobile technology to reduce mortality rates among mothers and infants and to detect developmental abnormalities at an early stage. Usman, from Kenya, is the company’s co-founder. Totohealth’s mobile platform enables timely monitoring of the health, disease status, and nutritional conditions of children under five years old, while also providing pregnant women with personalized information regarding their gestational age and pregnancy status.

Meanwhile, Totohealth delivers personalized information in a timely manner based on the stage of pregnancy and provides users with knowledge on nutrition, reproductive health, and child-rearing. The company has raised a total of $320,000 in funding.

HeraMED, a technology-driven startup founded in 2011 and led by CEO David Groberman, is dedicated to developing innovative mobile health solutions for prenatal monitoring and has created an advanced pregnancy monitoring platform. While internet-based healthcare products for pregnancy are emerging in abundance, HeraMED stands out as a prominent representative of such startups in Israel. Its product, Compass, is the first medical-grade home fetal health monitoring device, integrating multiple sensors to enable real-time monitoring of fetal health via smartphones.

Definition: Providing women with hardware devices to monitor their fertility at home.

Prima-Temp is a health company centered on body temperature monitoring technology. In 2010, founder Constantini drew inspiration from a sensor designed to measure body temperature in dairy cows and established Prima-Temp to address fertility challenges in women.

Its product employs wireless, continuous core temperature monitoring to detect subtle changes in body temperature and transmit the data directly to a smartphone. The first product, Priya, is an internal sensor designed to identify pre-ovulatory shifts in basal body temperature. When a female user reaches her peak fertility window, Priya sends an alert to her smartphone.

Kindara, a women’s health company headquartered in Boulder, Colorado, has launched the Kindara app, which leverages established technology to help users track their menstrual cycles and, depending on their goals, assist women in achieving pregnancy more quickly or practicing natural contraception.

Kindara’s specific features also include: connecting with female friends to share fertility plans and offer mutual encouragement; receiving feedback and support from community members and FAM enthusiasts; accessing information on basal body temperature changes, ovulation timing, and the peak day of cervical fluid; and continuing learning through its extensive knowledge base and blog.

Ava, a company specializing in wearable ovulation monitoring devices and applications, has offices in both San Francisco and Switzerland, with Lea von Bidder serving as its CEO. In July 2016, the company launched its wearable fertility tracking device and raised nearly $10 million in November 2016.

The Ava bracelet uses sensors to detect the fertility window in real time throughout a woman’s menstrual cycle, recording nine physiological metrics corresponding to hormone levels and indicating ovulation timing through rises in these hormone levels. Following its market launch, Ava promptly completed a clinical study at the University Hospital of Zurich, confirming the accuracy of its detection.

Founded in Silicon Valley in October 2014, Comper’s core product is the smart preconception device. Comper has long maintained a collaborative partnership with a German research team, applying statistical prediction models to natural conception planning. For instance, by integrating the TTS model into the Comper Women App and leveraging precise data collected from its preconception devices, Comper significantly enhances the accuracy of ovulation predictions. Currently, with the continuous sales growth of products such as its smart fetal heart rate monitor, Comper has established a strong reputation among mid-to-high-end female consumers.

Definition: Startups aimed at improving women’s overall clinical healthcare experience.

The telehealth application Maven offers on-demand telehealth services and a network of specialists designed specifically for women. Its founder, Kate Ryder, drew inspiration while working as a venture capitalist at Index Ventures. The company has raised a total of $9 million in funding.

Maven enables users to ask questions, browse health discussions, or schedule video appointments with healthcare providers. Notably, Maven specializes in women’s health. The company has a team of over 10 employees, and among the more than 300 physicians, physical therapists, and nurse practitioners on its platform, 98% are women. Appointment fees on Maven start as low as $18 per session.

CelesCare, an online clinic based in Hyderabad, is a subsidiary of Patient Focus, which was co-founded by Bahina and Rajah Koppala in 2015. Celes was established with funding from Eight Roads Ventures (Fidelity International Investment), Ventureast, Endiya Partners, Dr. Varaprasad Reddy, and other prominent angel investors.

Celes Care is a software application designed to provide women with free health consultations. Doctors listen to patients’ descriptions, maintain their health records, and offer continuous medical support. It adds a new dimension to preventive medicine by delivering expert medical advice to women anytime, anywhere.

San Francisco-based iSono Health specializes in monitoring and detecting breast health to prevent early-stage breast cancer. Its patented 3D ultrasound technology, combined with powerful machine learning algorithms, enables users to track breast changes anytime and anywhere without radiation exposure, supporting home use. The ultrasound scanner can be connected to wearable devices, allowing for automatic breast scans in just 2–3 minutes per month.

Its intelligent software can perform monthly comparisons of scan images and provide timely feedback. The companion app enables device control, delivers alerts, and allows image sharing with radiologists. The company has secured a total of $120,000 in funding from Y Combinator.

Glow, founded in California in 2013, is a highly active community focused on reproductive health and maternal-child care. It is dedicated to leveraging big data to improve women’s health, including fertility outcomes, and has developed a fertility tracking application. The platform boasts 8 million users worldwide and has facilitated over 40 million health consultations. Its founder is the well-known Max Levchin, co-founder of PayPal.

On this platform, you can discuss popular topics related to women, such as pregnancy and parenting; read reviews of assisted reproductive technology (ART) clinics and physicians; receive professional fertility guidance from medical experts; and access discounted treatment pricing. The company has currently completed its Series B financing round, with total funding reaching $23 million.

Definition: Provision of menstrual care products such as sanitary pads, tampons, and CPG.

Lola, co-founded by Jordana Kier and Alexandra Friedman, which sells organic tampons on a subscription basis, is one of the companies addressing menstrual health issues through modern approaches. With total funding of $11 million, it is the best-funded company in its category.

The company recently launched Lola’s First Period Kit, priced at $34. The kit includes pads with varying absorbency levels, panty liners, tampons, and an instructional card. The company’s mission is to deliver directly to women tampons made from 100% cotton (now 100% organic cotton) with full ingredient transparency.

Thinx, a period underwear startup founded by Miki Agrawal in January 2014, offers Thinx period panties designed to replace panty liners and tampons. Made from antimicrobial, stain-resistant materials with high absorbency—capable of holding up to six teaspoons of fluid.

Antibacterial underwear consists of four layers, each serving a specific function: moisture-wicking, antibacterial and stain-resistant, absorbent, and leak-proof. While it appears no different from conventional underwear on the outside, it incorporates innovative, ultra-thin multi-layer fabrics with water-absorbent and quick-drying properties, allowing it to be washed and reused.

Flex founder and CEO Lauren Schulte has launched her product: the menstrual disc, a replacement for tampons. Unlike other products, this innovatively designed sanitary item features a smooth, flat, disc-like shape that allows women to engage in sexual activity during menstruation.

Each Flex disc is designed for single use. Its disc-shaped design utilizes a soft barrier to temporarily block menstrual flow. Made from hypoallergenic, BPA-free materials, it offers high flexibility and does not cause toxic shock syndrome. It can be worn for up to 12 hours without causing any sensation of a foreign object.

The company aims to transform women's health, with Kimmy Scotti and Lisamarie Lawrence serving as co-founders and co-CEOs. Its free period-tracking app aligns with users’ bodies to provide true mastery over their menstrual cycles. Key features include cycle tracking and monthly predictions to help users understand their physical condition and schedule; setting reminders for oral contraceptive intake or annual gynecological exams; and logging experiences, including mood and symptoms. The company has raised a total of $2 million in funding.

Lunapads, based in Vancouver, Canada, is a company that manufactures reusable cloth menstrual pads and period underwear, while also selling menstrual cups and other feminine care products through its website. The company is a sponsor of the Pads4Girls project, which aims to help girls in developing countries with limited access to healthcare and hygiene resources manage their menstruation. Its product lines, including Classic Lunapads & Pantyliners, Performa Pads, The DivaCup, and LunaUndies Period Underwear, offer a fresh perspective on personal care.

The PMS Bites team has developed gluten-free, vegetarian chocolate balls infused with herbal ingredients such as dandelion root and chamomile. These all-natural, starch-free components have been proven to help alleviate premenstrual syndrome (PMS) symptoms, including bloating and cramps. Research indicates that PMS is associated with blood sugar imbalances. The company’s products satisfy women’s cravings for sweets while maintaining nutritional balance. The company has raised a total of $100,000 in financing.

Cora, a tampon company based in San Francisco and founded in 2015, provides online shopping services. Its marketing strategy involves including a unique code with each tampon; these codes are distributed through monthly subscriptions to encourage organized word-of-mouth sharing among friends and family. By entering the code on cora.life, users can secure one month of free products for themselves and their friends. The brand’s products are also sold at Target Corp., including individually wrapped tampons. The company has raised a total of $650,000 in funding.

The company produces 100% all-natural sanitary pads, free from synthetic fibers, fragrances, and chlorine. Unlike most vaginal care products, Sustain places greater emphasis on the impact of harmful ingredients on women’s health. The company was founded by a father-daughter team dedicated to creating natural products. Jeffrey, the father, previously founded Seventh Generation, and together they established Sustain, an all-natural feminine care brand. The company has secured a total of $3 million in financing.

Definition: Provision of lubricants and related products to help women enhance their sexual experience.

Founded in 2012 and led by CEO Karen Long, Nuelle is a venture capital-backed health technology company headquartered in Mountain View, California. The company’s wearable product, Fiera Arouser For Her, is designed for pre-coital use to help women achieve more satisfying sexual experiences, thereby enhancing the quality of sex lives for millions of women and their partners. The company has secured a total investment of $23 million.

The company’s product, Mae, is a moisturizing lubricant designed for the female body, containing six natural ingredients and free from steroids or hormones. This 100% natural vaginal suppository helps restore vaginal moisture. Vaginal dryness is a common symptom among women, particularly during menopause, and can lead to physical discomfort, dyspareunia (painful intercourse), and decreased libido. Unlike traditional lubricants, Mae is specifically formulated for mature women to promote long-term vaginal health. The company has raised a total of $1 million in funding.

The company is dedicated to developing care products, ranging from organic tampons to condoms free of chemical ingredients. Talia Frenkel self-funded the launch of L. in 2014, a Y Combinator-incubated venture aimed at empowering women to prevent HIV infection through condom use.

L. Condoms are made from non-toxic, eco-friendly natural latex, which can significantly reduce allergic reactions in individuals with latex allergies. In addition to direct home delivery by couriers, L. Condoms are now sold in over 1,000 stores, including CVS Pharmacy, Target, and Whole Foods Market. The company has secured a total of $120,000 in investment.

B-wom is the first customized application designed for women’s sexual health management. The app assesses pelvic floor function through ten questions related to lifestyle factors, collects and analyzes the resulting data, and stores it securely, with the aim of monitoring sexual health via personalized training programs.

Meanwhile, B-wom has prepared an exercise plan tailored to meet the needs of each woman, comprising 6 to 12 exercises. For each exercise, the program explains the importance of every posture and mode, and demonstrates how enhancing different parts of the pelvic floor and abdominal muscles can improve women's sexual quality of life. The company has raised a total of $1 million in funding.

References:

https://venturebeat.com/2017/02/05/the-rise-of-femtech-women-technology-and-trump/

http://www.kpcb.com/blog/vcs-see-opportunity-in-growing-fertility-market