Less than a year after slightly expanding Series A, Future Family, a startup aiming to make fertility services like IVF and egg freezing more accessible has received $25 million in Series B funding.
Munich Re Ventures led the round, joined by TriVentures, MS&AD Ventures and ORIX, as well as existing investors Aspect Ventures, Mindset Ventures, at.inc/ and OurCrowd. The latest round gives the company $150 million in total funding, including a $100 million credit line announced in 2018.
We’ve been covering Future Family for nearly five years – you can read all about it here – following founder Claire Tomkins when she and her team partnered with Clinique to help reduce the time it takes to price everything. and bills are prepaid, so there are no hidden or unexpected costs.
The company offers 60-month credit plans ranging from $300 to $475 per month and covers things like diagnostic procedures, lab work, and medications.
In 2021, Tomkins told gaming-updates he expects record activity due to people waiting to continue receiving treatment during a global pandemic. That is exactly what happened; As a result, Future Family’s gross transaction volume – the number of funded patients – increased by 300% in 2021. The company also doubled its workforce.
She expects even higher growth this year and in 2023 as many are now surviving the pandemic. She added that CDC data shows that about 20% of Americans will need fertility treatment in the coming years, and that 1 in 8 will lose access to fertility treatment if people wait later to start a family. Most people finance a car, so it’s natural for Tomkins that with an average IVF cycle costing $12,400 — the same as a car — people would want to fund fertility treatments.
With new funding, Future Family can expand its network, invest in staff and product development, and explore new channels. Tomkins indicated that there would be more news in the second half of the year.
“We have seen such strong results with the growth and momentum of the company, which is why we were interested in growing it in the second half of last year,” said gaming-updates Claire Tomkins, founder and CEO of Future Family. “Starting a family has never been as difficult as in 2022, only because age-related infertility and the cost of caring for it are very high. Future Family offers a unique solution: buy now, pay later for health care that makes sense and comes with a convenient monthly subscription. ,