Male fertility startup Legacy has raised $25M in Series B funding led by Bain Capital Ventures. Other participants in the round include existing investors FirstMark Capital, Section 32 and TQ Ventures, as well as new investor Valor Equity Partners. This financing brings the company’s total funding to $45M.
Legacy was founded in 2018 by Khaled Kteily with the goal to demystify male fertility by making sperm analysis, DNA fragmentation and sperm freezing more accessible. Backed by celebrity investors Justin Bieber, The Weeknd, Orlando Bloom and DJ Khaled, the company empowers all sperm producing individuals to be part of the fertility solution, a challenge that typically falls on women to solve. In order to address this issue the company recently also partnered with RESOLVE, the National Infertility Association to work towards a more inclusive discussion of fertility-related challenges.
Legacy has seen consistent momentum since its inception and says it increased its revenue seven-fold in 2020, quadrupled it in 2021 and currently tests and freezes more sperm than any other fertility clinic. With this latest funding round, Legacy plans to double its headcount and scale its offerings beyond sperm testing, freezing and fertility support.
Like others in the space, the company is going hybrid and launching Legacy Labs, which are physical labs that allow customers to receive same-day, at-home service. Legacy Labs are specifically designed for individuals beginning surgery or fertility-compromising treatments for illnesses like cancer, and need to bank sperm immediately.
There is a major family planning and overall health crisis: sperm counts have decreased by more than 50 percent globally in the past 40 years and one in seven couples struggle with infertility. When a couple is trying to conceive, the United States is the only country in the world that does not start the fertility treatment process by testing the sperm-producing partner. Male fertility complications are easier and cheaper to diagnose and treat, sometimes the solution is simply a matter of lifestyle changes. Legacy is on a mission to flip the fertility script and empower men to take ownership of their part of the family planning process.
“Fertility rates are declining, and somehow it seems like almost no one is talking about sperm health – except Legacy – despite it affecting half of our population,” said Yumin Choi, Partner at Bain Capital Ventures, who led the round. “Khaled and the team are poised to transform the way we think about fertility, family planning and overall health.”
Sperm testing is not solely important for fertility purposes. Sperm is a strong biomarker of overall health and can point to a wide range of issues including cancer, chronic illnesses and mortality. By engaging in testing, individuals have the chance to be proactive and catch health concerns early that may have otherwise gone unnoticed.
“Bringing life into this world is one of the greatest joys people can experience in their lifetime, but family planning can be daunting – and at times feel hopeless,” said Khaled Kteily, CEO and founder of Legacy. “Our goal is to eliminate the pain points involved, make the experience human rather than clinical, and help everyone create the families they want when they want.”