It’s been two years since we last spoke to Liz Gazda, CEO of Embr Labs. Back then the company had just released Wave 2, the second iteration of its wearable and app. The bracelet, designed to help women going through menopause with hot flashes, deploys cooling or warming sensations or “waveforms” to the temperature-sensitive skin on the inside of the wrist, detected by nerve endings known as thermoreceptors. With these signals the brain naturally processes the thermal sensation to restore balance and bring hot flash relief, stress management and improve sleep by tapping into the autonomic nervous system.
Now Embr Labs, who previously raised $7.6M from investors including Bose Ventures, DigiTx Partners, Safar Partners, Joy Ventures and Intel Capital, is announcing a new capital injection. Led by Ghost Tree Partners in collacoration with Aon plx, the company has raised $35M via IP-based dept financing. The new funds will support Embr Lab’s consumer growth strategy via retail and geographic expansion. Back in January the company announced partnerships with leading online retailers such as Amazon, Costco, Target, Walmart, or CVS.
Embr Labs CEO Liz Gazda shares: “Women today are seeking natural, non-hormonal alternatives to control their symptoms of menopause, and the Embr Wave is the solution they’ve been looking for. Through our partnership with Ghost Tree, Embr Labs is able to accelerate the fulfillment of our mission to provide this ground-breaking technology to women everywhere.”
David Byrne, Managing Partner at Ghost Tree Partners, said: “We recognized Embr’s market leadership and the company’s rapid growth potential. We are pleased to support the company as the investment community has yet to recognize the massive unmet need the menopause segment presents. We’re excited to provide the capital to support the company’s retail growth and geographical expansion.”
Lewis Lee, CEO or IP Solutions at Aon, a global professional services firm that facilitated the transaction through valuation and broking services, adds: “Innovation drives growth, and intellectual property can be the valuable asset created from that innovation,” said “We are excited to support innovative companies with intellectual property portfolios like Embr Labs to help them unlock the potential value of those IP assets and pursue growth independent of equity market volatility.”
