What You Should Know:
– Today, former Livongo executive Dr. Kimon Angelides announced the launch of FemTec Health, a women’s health sciences and beauty company with $38M in funding focused on using technology and data to transform the total healthcare experience for women.
– Investors, capital and shareholders include Longmont Capital, Ithaca LifeSciences, Unilever Ventures, Estee Lauder, Shiseido, e.Ventures, Viking Global, and Trinity Capital with more than $38M raised to date. Additionally, strategic partnerships with leading health and wellness companies will be announced soon.
– Founded in May 2020 by Dr. Kimon Angelides, the company has over 10M members, two clinical trials in progress, a team of over 150, and a deep bench of women in leadership, including Dr. Kimberly Capone, Chief Scientific Officer (formerly with Johnson & Johnson), and Dr. Laura Clapper, Chief Operating Officer (formerly Cigna, CVS-Aetna).
Healthcare was never designed for women
Most healthcare and its related tech were created by and for men. The uniqueness of women’s bodies and their ever-changing needs have gotten short shrift in just about every market direction—it was not until 1993 that women were even allowed in clinical trials.
Since May of 2020, Angelides and the team have been building a platform to create a new standard for the continuum of care for women by bringing together products, services and data analytics. Key to the solution, FemTec Health is building the data analytics platform and infrastructure to accommodate wide-ranging products and services, and acquisitions that provide continuity and coordination of care for every woman, at every life stage. The patent-pending BiomeAI™engine uses AI and deep machine learning to translate consumer, genetic, microbiome, and biometric data into the delivery of holistic healthcare personalized for every woman. To date, the company has over 10M members and two clinical trials in progress.
“Our platform can be implemented across all areas including specialty care, wellness and prevention, reproductive care, sexual wellness, mental health, chronic care, and beyond. It is driven by state-of-the-art genomics and digital technologies that empower women to take control of their health at every stage of their life journey, based on their individual health profiles,” says Dr. Angelides.
Recent M&A Activity to Accelerate Growth
To accelerate growth, acquisitions include famed subscription beauty box Birchbox, and Mira Beauty, the world’s first universal store and collaborative library for beauty. FemTec Health also acquired Liquid Grids, a social marketing platform for the healthcare industry that has over 1.5 million members, to further the growth of its robust community of women. Later this year, FemTec Health will be announcing the company’s innovative consumer offering including the re-launch of Birchbox, shifting the focus from beauty product discovery to curated personalized skin and healthcare products utilizing the BiomeAI™ platform. FemTec Health currently has over 150 employees and is growing rapidly.
Rise of FemTech Market
Since 2014, the Femtech industry has attracted approximately $1 billion in funding, and women’s health has already developed into one of the biggest and most customer-oriented digital healthcare markets. FemTec Health’s product and service offerings have multiple channels built on a direct-to-consumer, subscription model, and business-to-business that include large employers, health insurers, and channel partners.