Fertility startup Progyny boosts $15 million in new round of funding and intends to with extra money inside a new application for patients to supply information to calculate In vitro fertilization treatments success, track fertility progress and much more
Progyny has elevated greater than $sixty five million from traders including Kleiner Perkins.
An electronic healthcare platform centered on in vitro fertilization and fertility has elevated nearly $15 million inside a new round of funding.
TriBeCa-based Progyny, that also provides an embryo-stability-testing system known as Eeva, invested the extra money in its new application for patients, the organization stated Wednesday.
The mission of Progyny, which started being an In vitro fertilization treatments information platform, is creating a pricey and unsure procedure more transparent for patients, founder and Chief executive officer Gina Bartasi told Crain’s.
“What struck me was how opaque the was,” stated Bartasi, who created twins of her very own through In vitro fertilization treatments. “What Progyny is attempting to complete like a clients are take proper care of the patients when it comes to success, duration of treatment and charges.Inches
The U.S. fertility market is believed between $3 billion and $4 billion, using the aided reproductive technology segment worth as much as $2.5 billion, based on researching the market firm Harris Williams & Co.
The typical price of a therapy cycle is $12,400, based on the American Society of Reproductive Medicine, and lots of patients undergo several cycle before getting a effective pregnancy.
The extra $14.seven million originated from traders including Kleiner Perkins Caufield and Byers, SR One and TPG Biotech, getting the entire funding for Progyny to $67.43 million, based on figures from CrunchBase.
The seed products for Progyny were grown in 2008 using the launch of love and fertility Authority, an academic and support platform for people going after In vitro fertilization treatments treatment. It later developed right into a referral network for In vitro fertilization treatments documents.
The organization altered its name to Progyny in 2015 after obtaining Menlo Park-based Auxogyn, the inventor of Eeva. Its portfolio includes egg freezing and financing services, and In vitro fertilization treatments patient plans.
Progyny intends to make use of the funds to build up better tools for patients to calculate In vitro fertilization treatments success and track fertility progress, the organization stated within the statement.
“Technology and benefit design innovation within the In vitro fertilization treatments industry is required to improve success and patient satisfaction,” stated Dr. Janet Seidenberg of KPCB, who sits on Progyny’s board.
“Progyny is leading that charge and it is poised to possess a significant effect on helping patients navigate the complicated realm of In vitro fertilization treatments and egg freezing.”
The organization can also be focusing on growing its fertility benefits plan business, which counts eBay among its clients.