Ovuline Raises $1.4M For Fertility TrackingMain Category: Fertility
Article Date: 08 Jan 2013
Ovuline, a leading company that helps females track their fertility and pregnancy online, has just announced that it raised $1.4 million in seed money, led by Lightbank, from LionBird, Launch Capital, and Techstars founder and CEO David Cohen.
Ovuline can now carry on with its creation of its mobile and Wed-based Smart Fertility product and lengthen its existence in the pregnancy tracking space with the help of this funding.
The company was started in the summer of 2012 and helps couples conceive by use of technology and machine learning. Data has shown that women who use Ovuline get pregnant twice as fast as American women who do not use it. A total of 20,000 women have already benefited from using the Smart Fertility product.
In addition, a pregnancy-tracking product is also being created by Ovuline and leading fertility doctors from the U.S. Health tracking devices and mobile technology are used by the Pregnancy Tracker to constantly monitor the main health signs of a woman's pregnancy, including:
Paris Wallace, founder and CEO of Ovuline, said:
"The Ovuline team is incredibly excited to receive the support of such high value-add financial partners who believe in our vision of using technology to make it easier and safer for couples to have children. The coming together of several major technology and healthcare trends are making it possible for women to improve their fertility and pregnancy outcomes like never before. This financing will help Ovuline to continue to pioneer efforts in providing women with tools that meaningfully change the way they have babies and track their pregnancies."
Wallace has a track-record of establishing commercial businesses in the fertility and health IT industries. He also created a company called Good Start Genetis, based in Boston.
This company tests the parents before they conceive to evaluate whether they may pass on a genetic disorder to their child.
Over $30 million has been raised by Good Start Genetics. GoodStart Select, the company's product, is sold at U.S. fertility clinics.
Bill Pescatello, principal at Lightbank, commented:
"Ovuline is already demonstrating the kind of leadership in a new technology space that we are excited about funding. In a short amount of time, Ovuline has earned the trust of tens of thousands of users and demonstrated the sophistication it takes to build a loyal consumer following. We are impressed by the high-quality technology, compassion and care that Paris Wallace and the Ovuline team bring to both their business model and consumers. We look forward to working with the team to help transform the pregnancy process for millions of women."
An accelerator course for businessmen, called Boston Techstars, was completed by Ovuline in November 2012.
The Pregnancy Tracker will be available in the market later this year. However, the product is now being used by beta users in the U.S.
Written by Sarah Glynn
Copyright: MediLexicon International Ltd
Original article posted on Medical News Today.
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