The U.K.-based digital fertility employee benefits company Fertifa announced this week the closing of its $1.3 million (£1 million) financing round.
Passion Capital, along with strategic angel investors, financed the round to help the startup reach its mission of providing “fertility for all.”
WHAT IT DOES
Fertifa acts as a digital fertility clinic for employees. On the individual side of the platform, people can browse specialists and make appointments in person or through video consultation, message with a fertility advisor, manage the whole scope of their fertility journey, purchase at-home fertility testing kits, and read up on Fertifa’s educational materials.
For employers, the platform acts as a hub for data analytics, employee feedback and corporate administration. All of the information on the employer platform is confidential and anonymous to allow employers to see how their members use and like the services without sharing personal health information.
WHAT IT’S FOR
The startup already provides fertility support for more than 700,000 UK employees, and this funding will be used to increase that number.
Fertifa plans to use the funding to build its growth in the U.K. and Europe, which it will do by enhancing the services provided through its tech-enabled platform, the company said in its announcement.
Roughly one in seven couples in the U.K. will have trouble conceiving, according to the National Health Service.
It is becoming more common for workplaces to offer fertility benefits, especially in the United States. Here, companies like Carrot, Progyny and Cleo were created to give working parents better access to fertility supportive services and other parenting help.
Designing fertility technology proves to be a space ripe for development as the market scored $2.2 billion in investments between 2014 and 2019, according to a report from Octopus.
ON THE RECORD
“Even before the pandemic, employers of all sizes have been seeking flexible and focused wellbeing solutions responsive to their business needs. Fertifa’s benefits programme is an ideal platform and solution that meets this,” said Eileen Burbidge, partner at Passion Capital, in a statement. “We’re thrilled to support the Fertifa team as it further develops its telehealth proposition and continues to provide a benefit that allows any employee access to affordable and accessible fertility care.”