Clue, a period tracker platform and companion for reproductive health based in Berlin have raised €7 million in a funding round. The round was spearheaded by London’s Balderton Capital and New York’s Union Square Ventures.
The German business plans to utilize the money to build up its cutting-edge digital family planning service, broaden its product line, and carry on with its research to close the gender data gap.
For the first time in its history, Clue will also invite its user community to become investors through Crowdcube and receive funds from investors.
As a result, community investors will be able to take part in and impact the development of the Clue app through feature surveys, testing, and forums with the Clue team.
Before the Crowdfund opens to the general public on April 18, 2023, Clue users will have exclusive access to participate before the Crowdcube community.
At the same rates as Clue’s institutional investors, anyone in the UK and EU can invest and become an owner for as low as €10 or as much as €100,000.
Ida Tin, Hans Raffauf, Mike LaVigne, and Moritz von Buttlar founded Clue in 2012 intending to educate women on reproductive health and a better understanding of their menstrual cycle patterns.
The free basic period monitoring capabilities are available, but “Clue Plus,” a premium subscription, gives subscribers access to more evidence-based features and in-depth insights.
Subscribers also have access to modes like Clue Conceive, a Clue function that is CE-certified and designed to walk customers through the conception process.
The company states that the new mode has been well received, with uptake increasing by over 50% in the last three months and now comprising 12% of subscribers to Clue Plus.
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The period tracker platform is concentrating on expanding its digital family planning and female health products. Menopause is one of the underserved life phases that Clue plans to add to its product range so that it can become a genuine companion app for life from the first period to the last.
Users have tracked over 530 million cycles and participated in ground-breaking research with carefully chosen research partners at institutions like Stanford and Oxford since the service’s introduction ten years ago.
Audrey Tsang, co-CEO of Clue said:
“So many of us still end up hacking our solutions to health needs. Despite accounting for half of the world’s population, the most prevalent health issues affecting women remain unrecognized, understudied, and untreated. Our community frequently expresses the belief that, except for Clue, their experiences are ignored or minimized. Clue was made because having a deeper understanding of your body is the first step toward empowering your health. It has a significant influence to be able to articulate your experience and advocate for oneself using language and data.”
“One example of how much work there is still to be done in this space is the fact that it still takes an average of seven years to get an endometriosis diagnosis. We think Clue is ideally positioned to drive the necessary change at scale by combining our technology with our extensive community knowledge and research to provide solutions that are compassionate, practical, and easily available for the most common problems affecting female health,” Audrey Tsang added.
Carrie Walter, co-CEO of Clue, comments:
“Some of the top investors in the world have consistently supported Clue because they recognize the enormous opportunity presented by providing women with the knowledge and data they need to take control of their reproductive health. An opportunity for long overdue social transformation as well as for developing a strong and sustainable business. By being the first menstrual and reproductive health app to enable our community to contribute and become co-owners, we’re going one step further today.”
“After all, period tracker platform, Clue only exists because of the community’s trust and to serve it. We, therefore, see this as an exciting opportunity to engage with them in new ways while gaining from the breadth of their viewpoints and level of involvement. We believe that allowing Clue users to participate in our success by becoming investors completes a crucial circle.”