2023 - The Year of FemTech

How well do we really know our bodies?

As the specialist within the FemTech and Women’s Health space, I had the honor of interviewing 5 of the most noteworthy companies transforming the Healthtech space as we know it, smashing the taboos and common infertility and menstruation misconceptions. Innovative businesses like Proov, Grace Health, Clue, Balance & Flo Health have recently been given a greater platform, with the evolvement of technology and digital literacy.

In spite of the sudden legislative action of overturning Roe v. Wade, overall, the FemTech industry is booming, irrespective of the current uncertain financial times. Women’s health needs don’t go on pause; while the pandemic forced the closure of fertility centers and medical clinics, women continued to undergo menopausal cycles, fertility complications and other life changes affecting women, or people who menstruate.

Proov

“A woman’s menstrual cycle is not a burden, it is actually her superpower,” – Amy Beckley PhD (Owner & CEO)

Proov is a US-based company, that measures hormones across the course of a cycle, and offers personalized solutions. They are pioneers, increasing women’s understanding of their own fertility; Amy chose to delve deeper than well-timed intercourse for a successful pregnancy, by educating individuals on the possibilities of PCOS, perimenopause etc. with the aim of minimizing the need for 3rd party reproductive techniques, like IVF.

Amy founded Proov in response to her own challenges with conception; for her, the aim is to minimize struggles in conception and to reduce the experience of stress, loss, and time, taken to conceive. She prioritizes making a difference to the women’s health space; rather than focusing on the monetary value, or being the ‘unicorn’; she seeks to empower and inform women so that they can thrive. In future, Proov is keen to look beyond fertility, and transition into the overall PMS, irregular cycle and menopause transition space, in order to widen the scope of their reach.

Grace Health

“It’s a difficult market, but we have something really interesting” - Estelle Joubert Westling (Founder & CEO)

Grace Health is a start-up based in Stockholm, whose core focus is providing women in lower-income markets with an improved understanding of their bodies. Estelle recognized the lack of information, specifically women-focused, in emerging markets, so Grace Health is aiming to “learn and reshape health” for the next generation of women online.

They value privacy, security and confidence; the application requires a unique code to log in, which is an element Grace Health considered greatly, to stimulate trust and the ability to safely research. Grace is unique in the market; it still has conversational AI, content, educational snippets, a period tracker and reminders, but it also offers assessments plus a chat-based function which supports West African dialects. This consideration sets them apart from direct competitors; they’ve consciously considered their key 1.2M users in Ghana, Kenya, India & South Africa.

Clue

“We use digital tools to help us live healthier lives with more reproductive autonomy,” - Carrie Walter (Co-CEO)

Clue is a menstrual health mobile application, developed by Biowink GmbH. The organization overall places emphasis on making “healthcare and trustworthy health resources more accessible to women, in ways that are self-determined and private”.

Clue has 5 modes, built for the sole purpose of monitoring your personal cycle to track periods, ovulation and pregnancy. Since 2012, Clue has encouraged the normalization of open conversations and discussions around women’s health, alongside consistent scientific publications about reproduction to enhance and improve education.

Despite the overturning of Roe v Wade, Clue hasn’t shown any signs of declining growth; their mission remains the same: to help women, and people with cycles, to increase their understanding and self-management.

Balance

“I want to make Balance a household name,” - Louise Newson (Founder) & Gaele Lalahy (COO)

balance Menopause is a start-up, founded in the UK, that spotlights the importance of understanding hormones. Their goal is to ensure women, globally, can have access to medically proven educative materials and resources to understand, not only menopause and the peri-menopause, but also ensure they are actively supported to make a diagnosis and get access to treatment, should they choose to.

Louise Newson, the Founder of Balance, recognized that if she were to reach the 1.3B women globally, utilization of technology would be critical, which is where their mobile application comes in. While they have reportedly already reached 215 different territories worldwide, the team remain motivated to increase accessibility, and reduce the spread of misinformation. Gaele Lalahy disclosed that to do so, they must ensure people have access to medically approved information in their native language, so in 2023, they will be seeking translators to assist them to attain this goal. Their long-term vision, for Balance, is for all women to have access to information so they can make the best treatment choice to improve their future health.

Flo Health

“Flo is helping women harness the power of their body signals,” - Cath Everett (Maclean) (VP of Product)

Flo Health Inc. is a mobile application that provides personalized insights, based on content reviewed by 100+ scientists and health experts. Cath Everett states that women’s health needs have been “under-researched, underfunded and often overlooked”; a sentiment shared often amongst those working in the Women’s Health space.

As the first period and ovulation tracker to receive ISO 27001 certification, the company are dedicated to closing the medical research gap, and continuing their long-term vision of de-stigmatizing taboos, understanding women’s bodies, and creating a better future for women.

I am excited to hear everyone’s thoughts on how they envisage the FemTech market will evolve. These companies are definitely leading the way and opening up the field for much wider research and opportunities! Please do add any comments below!