Flo Health

History

2021: Raising $50 million investment, estimated at $800 million

On September 9, 2021, Flo Health announced the attraction of $50 million in investments. According to the results of the Series B funding round, the Belarusian-based developer of the application for women's health was estimated at $800 million.

Target Global and VNV Global funds invested the most in the project. Flo Health will use this money to improve personalization and provide users with more information in the app, the company said, as well as an increase in staff, which has 350 people by September 9, 2021. Flo Health said that the number of project employees has doubled in two years.

Women's Health Platform Flo Health raised $50 million with an estimate of $800 million

According to the company's own data, the Flo application was downloaded by more than 200 million users around the world, and the active audience of the service exceeds 32 million people per month. Flo provides access to all the functions of the service for 269 rubles per month. By August 2021, the number of paid subscribers has quadrupled over the year - up to 1.5 million people.

Flo is a company that plays a decisive role in the women's technology industry, "says Alexander Frolov, co-founder and CEO of Target Global. - In 2021, we just began to observe a shift in startups aimed at solving specific problems with women's health, but very few companies are engaged in eliminating the root causes of these conditions. The proactive Flo platform is ahead of all expectations and has raised the bar on what consumers should expect from consumer health apps.

Kat Everett, vice president of products at Flo Health, said the company will be able to further democratize access to reliable health information through new investments, helping people better understand their unique signs and symptoms on an even larger scale.^[1]

2019: Raising $7.5 million investment

On June 24, 2019, SDVentures International Venture Fund announced its participation in the next investment round (in the expansion of the previous round A) of Flo Health, the developer of Flo, an application for women's health in the United States and more than 100 countries. The total amount of funds raised at the round amounted to $7.5 million, and the assessment of the SDVentures stake, taking into account participation in this round, reached $1.2 million.

The participants in the round were also Founders Fund, one of the leading venture capital funds in the United States, and the company's current shareholders are Haxus, Flint Capital, Elysium Venture Capital, business angels Sergey Gonchar and Evgeny Nevgen.

The total amount of funds raised for all rounds amounted to $20.5 million. Flo Health's valuation rose to $230 million.

According to Flo Health, as of June 2019, in Europe and the United States, about 10% of women aged 15 to 40 use Flo. In just a few years, Flo has grown from a menstrual cycle calendar into a full-fledged health assistant for women at any stage of their lives. By 2019, the application has become not only popular, but also a commercially successful product in its category, with an average monthly revenue growth of 30%. The company collaborates with experts in obstetrics and gynecology from leading medical universities in the USA and Europe to ensure that users of the application receive only scientifically reliable materials.

The expansion of the fund's investment share in Flo Health is an indicator of our confidence in the potential of its product. The development strategy chosen by the team of professional managers of the company has led to significant success and rapid qualitative development of the Flo application. We can safely predict that very soon the number of active unique users of the application will reach 100 million. But, more importantly, a combination of technologies using artificial intelligence and international medical expertise can make it possible to predict not only the cycle, but also the likelihood of serious diseases. I am confident that in the near future Flo will become a true advocate for women's health around the world,

2015: Foundation of the company

Flo Health, Inc. was founded in 2015 USA Belarusians in Yuri and Dmitry Gursky, Maxim Skrobov and Andrei Kovzel^[2]

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