Flora Fertility, an insurtech company, has raised $1.5 million in a pre-seed funding round. The round was led by Highline Beta, with co-investments from Cartography Capital, Everywhere Ventures, and angel investors from the insurance, technology, and financial services industries.
The company plans to use this investment to launch a private fertility insurance product in the United States and Canada.
Flora Fertility aims to address fertility treatment affordability. The company states that infertility affects 1 in 6 individuals, with fertility treatment costs potentially exceeding $50,000. According to Flora, most patients pay for these treatments out of pocket.
The company’s product is described as an individually-owned fertility insurance solution. Flora plans to make this insurance available through partnerships with women’s health apps, SMB employers, and other channels across North America.
Laura J. McDonald, co-founder of Flora Fertility, said, “Our mission is simple: we want to make fertility care accessible and affordable for everyone. With our unique solution, women and families can proactively safeguard their reproductive future.”
The founding team includes Laura J. McDonald, Dr. Christy Lane, and Somil Jain. Flora reports that it is the first company to develop individual risk models for fertility insurance.
Dr. Christy Lane, co-founder of Flora, stated, “No one has created an individual risk model for fertility until now. We’re proud to lead this innovation, leveraging our expertise in women’s health, data science, and actuarial modeling to deliver a solution that will fundamentally change how people finance fertility treatments, especially in underserved and underfunded markets.”
Marcus Daniels, Founding Partner and CEO of Highline Beta, commented on the investment: “Flora Fertility’s founders are boldly making a huge impact in women’s health with an innovative insurance solution. Fantastic to see the high investor & strategic engagement beyond Highline Beta’s venture studio support to further validate their exponential potential.”
Ben Stein, General Partner at Cartography Capital, added: “Every journey to parenthood is unique and Flora is a product that people need, and insurance underwriters want. We’re long overdue for underwriting models and insurance products created specifically for women, by women.”
Jenny Fielding, Co-Founder & Managing Partner at Everywhere Ventures, said: “Flora Fertility is democratizing access to fertility care, and this aligns with our thesis around a more fragmented future of work. There is growing demand for personalized health coverage, especially in a work environment where not everyone works at a Fortune 500 company.”
