Progyny

Progyny works with employers (primarily large enterprises in the US) to optimize the fertility benefits they offer for their employees. It connects employees to fertility specialists and clinics, and also offers extensive support to patients through their Progyny Patient Care Advocates, who provide clinical guidance, education, and emotional support.

The company was founded as a fertility education platform and eventually included in vitro fertilization (IVF) referral network Fertility Authority and reproductive health company Auxogyn, into its network. The company pivoted into offering fertility benefit solutions in 2016, and launched Progyny Rx (fertility medication benefit) in 2018.

Progyny connects patients to a network of 800 fertility specialists and nearly 600 clinic locations. 

Key customers and partnerships

As of March 2022, the company served 264 enterprise customers (including Facebook, Microsoft, Google, and Nasdaq), and had 3.9 million active members.

Funding and financials

In October 2019, Progyny raised USD 130 million through its IPO, where it was listed on the Nasdaq.

In FY2021, the company reported a revenue of USD 500.6 million reflecting a 45% YoY growth and a net income of USD 65.8 million. The company’s revenue for Q3 FY2022 amounted to USD 205.4 million, representing 68% YoY growth. The management’s revenue guidance for FY2022 ranges between USD 775 million and USD 785 million, which implies an YoY growth of 55% to 57%.