Reproductive well being app Clue scores €7 million

Femtech firm Clue, which affords an app targeted on menstrual cycle monitoring and reproductive well being, raised €7 million ($7.6 million) in funding led by present buyers Union Sq. Ventures and Balderton Capital. 

The corporate additionally introduced it might permit customers to develop into buyers within the firm through British funding crowdfunding platform Crowdcube. Customers who make investments might take part in and affect the app’s improvement via polls, testing and boards with the Clue staff.

WHAT THEY DO

The Berlin-based firm affords reproductive well being companies from interval to being pregnant monitoring. 

The funds will likely be used to develop the corporate’s product portfolio, scale its digital household planning providing and proceed its analysis efforts. 

“Constructing on a spherical led by our unbelievable buyers Balderton Capital and Union Sq. Ventures, opening the doorways to neighborhood buyers will really contain our person neighborhood in our journey and success in a approach that is so true to Clue,” the corporate’s co-CEO Audrey Tsang instructed MobiHealthNews in an e mail.  

“The ladies’s well being expertise has all the time been marginalized. The truth that it nonetheless takes a median of seven years to get an endometriosis prognosis is only one instance of how a lot work there nonetheless is to do on this house. We’re out to alter that at Clue, and we wish our person neighborhood concerned.”

MARKET SNAPSHOT

In 2021, Clue received FDA 510(k) clearance to launch Clue Start Management, an all-digital type of contraceptive that depends on interval monitoring knowledge. It subsequently obtained €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 function. 

Clue was not resistant to the massive layoffs seen across the tech trade. Walter announced on LinkedIn that it was decreasing the dimensions 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 girls’s reproductive well being, particularly in regard to data privacy and security within women’s health apps. Final yr, Clue responded to customers’ issues through a blog post on their site, stating they don’t share customers’ well being knowledge.

Jennifer Gaudet Hefele will provide 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, Stage 5, room S505.