Fellow Health just raised $24 million in a Series B funding round, bringing its cash haul across multiple offerings to $48 million. The San Leandro, California startup advances male reproductive health through “patient-centric testing solutions” and plans to use the capital infusion to expand its mail-in semen analysis services.
Fellow Health provides clinical grade, mail-in analysis of male fertility and post-vasectomy status while committing to “privacy, convenience and timely results.” Italready has a network of more than 2,500 fertility and urology providers nationwide and wants to “deepen its footprint” through expansion into employer-sponsored fertility benefits and “broader access initiatives.”
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5AM Ventures led the latest funding round, in which asset management firm Forest Road participated for the first time. Forest Managing Partner of Life Sciences Bill Burkoth will join Fellow’s board as part of the financing deal. Other investors since the initial round include Labcorp Venture Fund, Genoa Ventures and Mantis Venture Capital.
“Fellow Health is exactly the kind of company we look for – operating in a large, overlooked market that’s long overdue for disruption,” Burkoth said in a statement. “With over 50,000 test results delivered so far this year, they’ve proven there is real demand for a better patient experience.”
Live sperm gets counted in fertility analysis. These cells can live three to days within the cervix, uterus and fallopian tubes, but usually die in under an hour outside a woman’s body. The mail-in service addresses this time bomb with a “preservation solution designed to stabilize your sample and a gel pack that helps maintain a moderate temperature during transit.” Mail-in post-vasectomy testing is less time critical because it counts both living and dead sperm.
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Fellow Health points to studies backing up its claim that it can provide “results on par with traditional one-hour semen analysis when analyzing samples received within 52 hours of when they were produced.” It sells both testing products and a cryopreservation service without a doctor’s prescription at its website.
“Male reproductive health should not be reactive or inaccessible,” Fellow CEO Brian Hogan said in the statement. “We are on track to deliver over 40% year-over-year revenue growth, with a path to profitability in our fertility segment by 2026. This investment allows us to scale that vision and support both patients and providers with modern tools that work.”
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However, Fellow Health faces stiff competition in the male fertility space that could impact this optimistic revenue outlook. Rival Posterity Health booked $13 million in Series A funding earlier this year. The company partnered with Mark Cuban Cost Plus Drug Company in 2023 to provide access to treatments for infertility, sexual dysfunction and low testosterone.
A year earlier, American telehealth provider Ro bought Dadi, another male fertility and sperm testing startup. Its reproduction preservation service for men looks like a direct competitor to Fellow Health’s family of products. Ro has also made a splash in women’s health, acquiring Modern Fertility in 2021.
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This article From Taboo To Tech: Fellow Health’s $24M Raise Signals Big Shift In Men’s Reproductive Health originally appeared on Benzinga.com
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