Flo Health, a digital women’s health app, has secured over £156m ($200m) in a minority Series C investment from General Atlantic, a leading global growth investor. This investment propels Flo’s valuation past $1 billion, making it the first purely digital consumer women’s health app to become a unicorn. The app offers support to women at every stage of their health journey, from menstruation to conception, pregnancy, menopause, and more. Flo provides a one-stop-shop platform offering cycle and ovulation tracking, daily health content, and a private digital community. Flo for Partners launched in 2023, offering partners access to cycle education. The investment will aid Flo’s expansion into new user segments, enhance its tech-driven health insights, and pursue strategic expansion opportunities, including increasing R&D headcount with investments in top-tier talent globally.
General Atlantic’s investment will also help Flo leverage its expertise in scaling companies at the intersection of consumer technology, healthcare, and subscription business models. The deal marks a significant moment in Flo’s growth story, as it supports nearly 70 million monthly active users and five million subscribers as of June 2024. In addition, Flo’s gross bookings for 2024 are anticipated to exceed $200 million this year, representing nearly 50% YoY growth. The investment will help Flo become a frontrunner in the rapidly expanding FemTech market, projected to grow to a $60 billion industry by 2027.
As part of the investment, Tanzeen Syed, managing director and head of consumer internet and technology at General Atlantic, and Jessie Cai will join Flo’s board of directors. Women’s health practitioners founded the company with a goal to make women’s health a global priority, especially in underserved regions worldwide. To achieve this, Flo operates a global pro-social program that provides women in 66 countries free access to Flo Premium, benefiting almost 1.2 million women to date.
