The startup dedicated to monitoring menstruation and reproductive health, Clue, has just announced that it has obtained a round of financing of 7 million euros. The funds will be used to expand the digital family planning offering, expand the product portfolio, and continue much-needed research efforts to close the gender data gap.
This latest round of funding is led by investors Balderton Capital and Union Square Ventures. For the first time in its history, Clue will also invite its user community to become investors through Crowdcube. This initiative brings the company’s most important stakeholders, its community, even closer to the product development process while giving them the opportunity to participate in the future success of the company. Community investors will be able to participate and influence the development of the app through surveys, tests, and forums directly with the Clue team.
Audrey Tsang, Co-CEO of Clue, comments: “There are still many of us who end up hacking our own solutions to health needs. Despite constituting half of the world’s population, the most common female diseases remain unrecognized, researched, and untreated. Our community constantly tells us that they feel their experiences are not being heard or taken into account, except in Clue. We created Clue because health empowerment starts with getting to know your body better. Having the language and data you need to describe your experience and advocate for yourself has a profound impact. The fact that it still takes an average of seven years to get a diagnosis of endometriosis is just one example of how much remains to be done in this field. We believe Clue is uniquely positioned to lead the change that is needed, at scale, leveraging our technology, deep community insights, and research to create empathetic, effective, and accessible solutions for the most frequently experienced challenges in women’s health.
Every month, 11 million people in 190 countries trust the Clue app to better understand their menstrual cycle patterns and gain insight into their reproductive health. Although the basic menstrual period tracking features are available for free, the premium subscription called “Clue Plus” offers subscribers additional features based on evidence and advanced insights. Subscribers also have access to modes like Clue Conceive, a CE marked Clue feature to accompany users on their journey to conception. The new mode has been very well received, with growth of more than 50% in the last three months, and now represents 12% of Clue Plus paid users.
To meet the growing demand for non-hormonal contraceptive options, and with the goal of radically improving reproductive options around the world, Clue is focusing on expanding its digital birth control tools. women’s health and family planning. It will also expand its product portfolio to include neglected life stages, including menopause, to become a true companion app for life, from first to last period.
