Clue announces $7 million in new funding
Clue, the world's fastest growing period and fertility tracking app, announced today it has raised $7 million in Series A funding from Union Square Ventures (New York) and Mosaic Ventures (London).
"We're thrilled to partner with these two prestigious firms with such respected investments and successful track records in both the United States and in Europe," said Clue CEO and co-founder Ida Tin. "Both Union Square Ventures and Mosaic truly believe in our vision of empowering people to be in charge of their reproductive lives and of improving female health on a global scale. We all aim for Clue to become the world's #1 period and fertility tracking app."
Clue calculates and predicts the users' periods, fertile windows and premenstrual syndrome (PMS) and informs them when they are the most or least likely to get pregnant. The app is accurate, easy and fast. The company has more than two million active users in over 180 countries, and is one of the most popular apps in the "Health & Fitness" category in the United States, Germany, France, Mexico and many others.
"Reproductive rights are human rights: the right to freely decide whether to have children or not, how often and when, including easy access to contraception and the necessary knowledge about reproductive health, and the right to attain the highest standard of sexual and reproductive health," said Tin. "Technology can and will have a huge, positive impact on all these issues and Clue is leading the way. We have so many users telling us that Clue has become such an important tool because the app not only improves their daily lives but also helps them to know themselves and their body better."
The app is currently available in 10 languages on iOS, Android and Apple Watch. It recently added 23 new tracking categories as well as an integration with Apple's HealthKit in iOS 9.
The $7 million investment will be used to launch new product features, hire new key people, substantially accelerate growth and develop in new markets. The company also plans to pursue partnerships with leading universities with the goal of advancing scientific research in the field of reproductive health.
The Series A investment brings Clue's total funding to $10 million. Past investors include Groupe Arnault, the controlling shareholder of LVMH - Louis Vuitton Moët Hennessy, Brigitte Mohn of Bertelsmann and top startup entrepreneurs from Spotify, Dropbox, SoundCloud and Toca Boca.
"Smartphones are empowering people everywhere with access to information," said Albert Wenger, Managing Partner at Union Square Ventures. "We are excited about Clue's potential to let women all around the world take charge of their health."
USV manages $1 billion across six funds. Its portfolio companies create services that have the potential to fundamentally transform important markets. The firm's early stage investments include Twitter, Kickstarter, Tumblr and Etsy.
"We have been following Clue for a year. It has emerged as one of the most exciting startups in Europe," said Simon Levene, co-founder and Partner at Mosaic Ventures. "They are a leader in the digital health space, and we see huge potential for their worldwide growth."
Mosaic Ventures is investing a $140 million fund in companies that are reshaping big markets. The firm, which focuses on Series A investment, has invested in Number Four, Blockchain, Blockstream and Guidebook. Before founding Mosaic, its partners invested in, among others, Pinterest, TransferWise, Hailo, Indiegogo, Etsy and Berlin-based ResearchGate.
"Clue stands for the new generation of Berlin companies today," said Christophe Maire, founder of Atlantic Labs. "Tech-driven, highly innovative, with passionate founders driven by an important mission - to empower women around the world"
Clue is a woman-led digital health startup based in Berlin, Germany. Launched in 2013, Clue is the world's fastest growing period tracker and fertility app. Clue's mission is to empower people to be in charge of their reproductive lives while moving science and health research forward. For more, visit www.helloclue.com or follow @clue on Twitter.