At-home fertility testing startup Modern Fertility has raised $15 million in Series A funding in a round led by Forerunner Ventures and its founding partner, Kirsten Green, who will be joining the company’s board.
WHAT THEY DO
Modern Fertility’s direct-to-consumer business starts when the customer requests a personalized at-home test, or opts to take it at a local lab. Once the results are submitted and reviewed by a clinician, the results are communicated to the customer through a private dashboard housed within a smartphone app or online portal. These results can be downloaded and shared with a doctor, or can inform a one-on-one digital consultation with one of Modern Fertility’s on-staff nurses.
With this week’s funding, the startup said that it has now raised a total of $22 million from investors.
WHAT IT’S FOR
According to the announcement, Modern Fertility will be funneling the new capital into fertility science research to inform the addition of new offerings into its current product.
THE BIGGER TREND
Consumer-grade fertility testing, standalone fertility tracking apps and dedicated wearables are encompassing a greater and greater portion of the digital health market. Mira, for instance, offers an app-connected analyzer designed to be used once every few days, while Concepta Diagnostics’ myLotus Fertility offers a similar app and hormone monitoring system experience. Also making waves in femtech is the controversial Natural Cycles app, which received De Novo marketing approval in August, and Ava’s cycle-tracking wearable.
ON THE RECORD
"Kirsten and the Forerunner Ventures team are ideal partners for us and I cannot wait to charge forward with their support," Afton Vechery, CEO and cofounder of Modern Fertility, said in a statement. "When it comes to consumer behavior, the big challenge in fertility is also our big opportunity. We want to rewire how we think about fertility. It should be proactive, informed and grounded in community and continued learning, rather than reactive and ambiguous. Kirsten will be immensely important in shaping and realizing this vision."
