REDWOOD CITY — Flo Health, an app that helps women track their periods, has completed a Series A Extension round. This brings Flo’s total Series A funding to $12 million, with a $200 million valuation. The funding round is led by Mangrove Capital Partners, an early backer of Skype and Wix, with participation from existing investors Flint Capital and Haxus.
“We are delighted to invest in Flo, the leading women’s health mobile application,” said David Waroquier, Partner at Mangrove. “We believe strongly in the company’s vision and ambitious plans. The team shows impressive capabilities in using the power of data to interact with their users and in achieving superior retention rates, rarely seen in other app solutions.”
The freshly raised funds will be used to fuel Flo’s next growth phase and product improvement. Flo’s goal is to become the most recognized female product with 100 million monthly active users. The spotlight will be placed on providing a highly personalized experience for every user based on their age, health goals, overall physical condition. With different in-app modes, Flo encompasses solutions for girls and women at every stage of life – from the onset of menstruation to preparation for pregnancy and motherhood to menopause. Flo’s neural networks and proprietary AI-based algorithms will not only improve cycle predictions, but also detect disturbing symptoms and proactively help the user cope with them by advising when to see a doctor or providing relevant health insights. Another ambition is to develop the world’s biggest women’s community, where users can share and discuss their most intimate concerns anonymously, and get advice and support.
“Women’s health is a top priority for all of us at Flo,” acknowledges Anna Klepchukova, Chief Science Officer at Flo. “It is a unique honor to create a product that can be of value to hundreds of millions of women worldwide. We will make every effort to prove we are worth this big mission.”
Launched in October 2015, Flo has been downloaded over 60 million times, with 22 million users using the app monthly. The company managed to more than double these numbers in one year. This makes Flo number 1 female health product by active audience in the USA. Currently, the user base grows by 4,5 million installs per month. Over 4 million women got pregnant with Flo so far, and the number keeps growing by 500,000 each month.