While fertility tech funding has fallen from its recent high, it remains elevated in the face of continued demand.
Demand for fertility services is rising, but a significant accessibility gap remains.
In the US, for example, only one-third of women with fertility issues have used fertility services, according to the National Health Statistics Reports.
In response, fertility tech companies have entered the market to bridge the divide, and they’ve raised more than $1.5B in equity funding since 2019. While funding has slowed down over the past couple of years, it remains elevated as the demand for fertility services persists.
At the end of 2022, virtual clinic Maven raised $90M from investors including CVS Health Ventures and General Catalyst. Its valuation jumped to $1.4B, marking a 40% increase from its $1B valuation in August 2021. More recently, its competitor, Kindbody, raised $100M at a $1.8B valuation, making it the first new digital health unicorn since Q2’22.
Notably, both companies enable employers to provide employees with fertility benefits, which have risen in popularity in recent years. Forty percent of US organizations offered these benefits in 2022, per a survey run by the International Foundation of Employee Benefit Plans, up from 30% in 2020.
In this brief, we use CB Insights data to assess the state of the fertility tech market — which comprises AI-enabled IVF services, hybrid and virtual fertility clinics, at-home fertility testing, and more.
We dive into:
- Total funding
- Funding by category
- Top-funded startups
- Most highly valued startups
- Top investors
Total funding
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