Legacy

Founded at Harvard Innovation Labs, Legacy has designed an at-home test kit that protects the sperm’s quality for up to 48 hours and keeps the sperm safe by providing 24/7 monitoring at every facility. The at-home analysis tests all five fertility factors including semen volume, sperm count, concentration, motility, and morphology. Legacy’s lab uses a slow freezing technique for sperm cryopreservation. Legacy provides comprehensive sperm analysis reports, storage, and video calls with fertility specialists. Legacy’s semen analysis report turnaround takes around a week from collection to analysis and storage. The company is also HIPAA, GDPR, and CCPA compliant.

The company’s packages start at USD 195 for one analysis and a week of storage; USD 995 for two analyses and five years of storage; and USD 3,995 for three analyses and lifetime storage. Legacy provides an option for customers to split their payments with 0% financing (with no credit checks or interest charged) over a period of 2 to 12 months.

In June 2022, Legacy laid off 13 employees.

Key customers and partnerships

Legacy partners with Andrology Labs in Chicago for sperm analysis, and with multiple cryo-storage providers across the country. In early 2020, the company signed up with an unnamed enterprise customer and noted that additional contracts were pending. Legacy has also partnered with leading insurers in the US to create a new vertical to cover its offerings. In June 2021, Legacy partnered with the Military Family Building Coalition (MFBC; a not-for-profit organization that is exclusively dedicated to supporting active-duty military with fertility and family building solutions) to support the US Naval Special Warfare Community (NSW) by providing access to family planning care and services. Through the partnership, NSW operators received free access to Legacy’s at-home sperm testing, including a one year complimentary cryopreservation service. Legacy also partnered with the fertility benefits provider, Carrot Fertility in April 2021, to provide discounted access to its at-home sperm analysis and cryopreservation services for Carrot members in the US.

Funding and financials

Legacy increased its revenue by 7x in 2020 and quadrupled the revenue in 2021. As of May 2022, the company provided its fertility services to nearly 8 million individuals through partnerships with fertility benefits providers. It also covered an additional 12 million lives through insurance contracts with insurers including Aetna, Cigna, and UnitedHealthcare in California, New York, and New Jersey.

In May 2022, the company raised USD 25 million in a Series B funding round led by Bain Capital Ventures, at a valuation of USD 150 million. The funds were expected to be utilized to launch Legacy Labs, which are physical treatment centers that are designed for individuals with immediate requirements for sperm banking. The lab will allow them to supply their sample and receive results within the same day (24 hours). The funds were also planned to be used to increase its fertility offerings beyond sperm testing, sperm freezing, and fertility support, and to double its employee headcount.