MedAnswers, a health tech company has raised $5 million in seed round funding led by Special Situations’ Life Sciences Innovation (LSI) Fund, managed by David Sable, with Viking Global Investors also participating. MedAnswers is leveraging technology, genetics and other health data to match those struggling to conceive to a curated network of fertility experts and solutions to help users conceive faster. The company is a graduate of the 7th cycle of Illumina Accelerator.
FertilityAnswers App
The money is being used to launch new tools on the FertilityAnswers app including fertility services matching resource and the first social media feed to provide access to clinically and scientifically validated fertility information. Each of these free resources aims to shorten the time to conception by aligning users with personalized, precise, family-building resources at the right time.
Growing Need for Fertility Information
“Our users have been struggling to conceive for an average of 2.5 years and they are mostly in their 20’s. Sadly, the health data they share and the questions they ask seem as though they are at the beginning of their journey. The faster we match them to the right products, services, clinicians and fertility solutions, the faster they can achieve their dream of having a family,” said Alice Crisci, CEO of MedAnswers.
Curated Social Media Feed
Startling research from Search Engine Watch reported “that 90% of those aged 18-24 trust information they learn from others on social media,” in addition to a “willingness to share personal health data.” FertilityAnswers enters this space with a curated social media feed that protects users’ anonymity and enables them to interact with board-certified experts.
Users can ask any question they want anonymously in exchange for filling out a short health profile. “The quality of the questions is much higher when users provide us with a bit of health data. And it ensures our experts can answer with accuracy and personalization. There is a big difference between a 25-year-old struggling to conceive and a 39-year-old,” Crisci explained.
Experts can upvote each other’s content to increase the validation of the content. As for the social media feed, only experts are allowed to post articles, videos, and images. However, anonymous users can like, comment and share the content they find useful.
Access to IVF Clinics
Through the new matching resource, FertilityAnswers also provides access to some of the best IVF clinics in the US, reduced fee IVF programs abroad, scientifically-validated ovulation trackers, clinically-validated emotional support programs, clinical weight management programs, and even clinical trials. The platform is HIPAA and HITECH compliant; user data is encrypted to protect data and keep users anonymous with the intent of being the most trusted, safe environment for the more than 80 million people across the world struggling to conceive.
Expansion Plans for MedAnswers
Funds will also be used to expand the team, bolster the company’s intellectual property position, increase the user base, grow the app’s available board-certified experts from 200 to 1,000 globally, and launch multi-lingual support. Experts include board-certified OBGYNs, reproductive endocrinologists, embryologists, geneticists, genetic counselors, psychologists, attorneys, acupuncturists, nutritionists, urologists, fertility navigators, egg and sperm donor agencies as well as surrogacy agencies.
