The company behind Flo, the app for period and cycle tracking, today announced it closed $50M in a Series B financing, bringing the total capital raised to $65M and company valuation to $800M. VNV Global and Target Global led the round. Flo will use the latest funding to enhance personalization and provide users with advanced cycle insights and symptom patterns to help them effectively manage and proactively improve their overall health.
“Too often, people encounter misinformation when searching on the internet for signs and symptoms of conditions, especially when it comes to taboo topics such as menstrual and sexual health,” said VP of Product, Cath Everett. “Our users often come to Flo for period or ovulation tracking, and stay for the wealth of science-backed content, expert-led courses and accurate cycle predictions. We’re fortunate to partner with the top universities and conduct cutting-edge medical research. With this funding, we’ll be able to further democratize access to credible health information, helping people better understand their unique signs and symptoms on an even larger scale.”
Flo will also use the funding to fuel the company’s continued headcount growth as it targets top talent across product, engineering, R&D, data science and medical roles. Headquartered in London and with a footprint across Europe and the US, the employee base has more than doubled in the last two years to 350, with the growth trend set to continue.
In the last twelve months, Flo has experienced hyper-growth. The app has increased its active subscribers’ base 4 times reaching 1.5M in August 2021. By the end of 2021 Flo aims to reach $100M Annual Run Rate. Flo’s business model is purely subscription-based. The company recently introduced Flo as a benefit to US employers to better support women in the workplace with the resources they need to thrive both physically and mentally.
“Flo’s long-term value and impact on its users is truly unmatched in the industry,” said Per Brilioth, CEO of VNV Global. “With its deep medical expertise and advanced product, Flo is addressing a critical gap in preventative care, an area that has been neglected for far too long. Flo’s strong position in this space and already impressive user base make the company well-positioned to continue to be a pioneer and true market leader over the coming years. We couldn’t be more thrilled to contribute to the next stage of its evolution.”