Today I’d like to spend some time on an emerging trend we’re seeing among direct-to-consumer women’s health startups: IaaS or Insights-as-a-Service.
Without doubt in the femtech industry, data is becoming increasingly critical. And while using insights for research that informs product development isn't new in women’s health, femtech startups are now increasingly leveraging these insights in innovative, commercial ways.
Insights as a Service (IaaS) is a model that's gaining traction in women’s health, enabling companies - both startups and their potential clients - to bridge the data gap, engage consumers by pinpointing their (known and unknown) needs, validate markets early, or inform their product development.
This data-driven approach addresses a long-standing issue in the healthcare industry, which has historically underfunded and under-researched women’s health.
At Femtech Insider we’ve written extensively about research and reports put together by various companies in our ecosystem over the years, and the sharing of insights by the various players isn’t new.
What’s new though is that startups are becoming more strategic about how they take their insights and learnings to market: In a structured and scalable way, that could very well evolve into sizable revenue streams alongside their core businesses or even replacing their core business over time.
Now that you know more about IaaS, and why it matters, let’s more on to the “show don’t tell’ portion of this email, and let’s look at a few of the companies, who’ve recently made news with their new IaaS tactics. 👇
Unfabled Launches Unfabled Labs
UK-based DTC ecommerce startup Unfabled is a great example for the emerging IaaS model. With the launch of Unfabled Labs, the company has developed a consumer insights and research platform aimed at driving innovation in women’s health and wellbeing.
Leveraging data from over 400,000 women and non-binary individuals, Unfabled Labs supports the development of targeted products. Founder Hannah Samano shared: “Significantly increasing the safe collection of gender-specific health data is an essential and critical step towards closing the gender health gap.”
According to the company, Unfabled Labs uses over 7 million data points on consumer behavior to create products tailored to their audience. This data directly informed the development of Unfabled’s newly launched range of supplements, designed to address issues such as menstruation, cramps, libido, focus, and sleep.
Rescripted Introduces Rescripted Insights
Rescripted, a media brand focused on health-conscious Millennial and Gen Z women, recently launched Rescripted Insights, a market research arm.
The platform helps brands understand their positioning, gauge consumer interest in new product categories, and analyze brand perception. Co-founders Abby Mercado and Kristyn Hodgdon share in a newsletter: “Our surveys run across our content, meaning the consumer is already intentional about learning about the women's health sub-topic that your brand is an expert in.”
Rescripted's reach—up to 12 million female consumers monthly according to the company—provides a robust dataset for brands to tap into. Their sweet spot: Non-incentivized, genuine consumer feedback, that ensures that the data collected is pure and highly valuable for business decisions.
Clear: Data-driven Skincare
YC-backed Clear is another notable, and early company in the IaaS space. This social commerce app for skincare leverages data, technology, and community to fuel innovation in the skincare industry.
Clear helps users track and share their skincare routines, providing insights into consumer preferences and behaviors. By collecting data from its users on an ingredient basis, Clear helps brands to create products that better meet consumer needs. This data-driven approach not only supports product development but also enhances consumer trust and engagement.
As a platform, Clear demonstrates how detailed consumer insights can be leveraged to drive innovation and growth in the health and beauty sector.
The Lowdown: From Contraception Reviews to Women's Health Research
The Lowdown, initially known for its comprehensive contraceptive reviews, has expanded to cover broader women’s health issues like endometriosis, PCOS, and fertility over the years. With over 6,500 reviews and 2 million annual website visitors, according to the company, The Lowdown is now focused on becoming a significant contributor to women’s health research.
Founder Alice Pelton notes the community's eagerness to participate in research, with 80% expressing interest in contributing to studies aimed at improving health outcomes for future generations in a survey.
The Lowdown’s ability to quickly gather and analyze consumer data positions could be a critical resource for addressing gaps in women’s health research.The company partners with innovators and health organizations, and wants to ensure that women’s voices are represented in health studies and solutions.
Balancing Opportunities and Risks
While the IaaS model offers numerous benefits as outlined above, it also presents risks, particularly regarding trust and data privacy.
In the context of women’s health it is of the utmost importance that consumer and patient data is handled securely and ethically. Transparency is crucial; companies must clearly and proactively communicate how data will be used and protected.
Despite these concerns, it is also a fact that many women, especially those using femtech solutions (#earlyadopters), are willing and sometimes eager to share their data, recognizing the potential for better, more personalized health solutions. However as mentioned earlier: Building and maintaining trust through transparency about data usage is key.
For femtech startups, IaaS provides a potentially vital additional revenue stream, especially for those struggling to monetize direct-to-consumer models.
For commercial partners, the advantages can also be significant. Access to detailed consumer insights allows for the creation of highly targeted products, driving customer loyalty and increasing market share.
Without doubt the insights from platforms like Unfabled Labs, Rescripted Insights, Clear, and The Lowdown are powerful tools for innovation and growth in the women’s health and wellbeing sector.
And I’m sure they won’t be the last companies to lean into a IaaS model, recognizing that data has a very, very big role to play in the future of femtech and women's health overall.
