Hillman Accelerator focuses on companies led by underrepresented individuals in tech by developing venture backable companies. Established in 2017, this statewide effort will display how the state of Ohio strives to move the needle on diversity with this new program. Founded by Dhani Jones, Ebow Vroom and Candice Matthews, the Hillman Accelerator will be the only full time program focused on developing teams lead by underrepresented leaders delivering high quality programming, mentorship and education to the participants. The Hillman team has solidified solutions-based partnerships that allow Hillman companies to work on strategic objectives of their national corporate partners. Sourcing teams nationally, the accelerator will focus on bringing highly scalable, venture back-able companies from around the country to our city of Cincinnati: The Queen City.

Hillman Accelerator

Portfolia connects sophisticated investors and leaders with entrepreneurial companies. Their platform enables users to collaborate with other members and lead investors to evaluate innovative products and teams, join diligence teams, and immerse themselves in the investment process. It is an investment fund designed for women while backing innovative companies for returns and impact.

Portfolia

GingerBread Capital invests in the next generation of women founders and entrepreneurs leading high-growth businesses It helps women-led businesses gain access to the knowledge, networks, and capital they need to build and scale successful enterprises, and it encourages other women to do the same. Based in Menlo Park, California, GingerBread Capital was founded in 2017 by Linnea Roberts.

GingerBread Capital

We turn bias into profit. Lightship Capital is exploiting two market failures to the benefit of our LPs. The first market failure is a lack of venture capital outside of Silicon Valley, the second is a lack of capital for underrepresented founders.

Lightship Capital

SteelSky Ventures is an early stage fund investing in the future of Women’s Health. The fund is focused on investing in high growth companies that significantly improve access, care and outcomes in women’s health.

SteelSky Ventures

Hambrecht Ducera Growth Ventures is a venture capital firm.

Hambrecht Ducera Growth Ventures

WCC Partners

Proov

Proov offers patented at home testing systems - including the only FDA cleared at-home test to measure progesterone metabolite PdG - to help women understand and act on their hormones. When used with the Proov Insight app, Proov's easy, at-home pee tests provide a science-backed fertility coach right in your hand.  First, a woman can measure all of the menstrual hormones daily with Proov tests, then snap a photo of each test within the Insight app.  Then, a woman can follow the in-app prompts throughout her cycle to understand ovulation status, get daily insights and an Ovulation Insights score.  Finally, the app generates a personalized action plan to maximize her wellness or develop a fertility strategy.  Proov was founded by Amy Beckley, Ph.D, the ''infertile scientist,'' after three years of infertility and seven miscarriages.  Amy applied her own science expertise to uncover a luteal phase defect (a problem with ovulation quality). With help from her doctor and a simple supplement, Amy was able to get pregnant with her daughter. Proov is a venture capital backed company and the leader in understanding hormone health on the basis of tracking PdG, a metabolite of progesterone.

<div><p>Proov (formerly known as MFB Fertility) offers the at-home “Proov'' ovulation and progesterone test. Proov tracks hormone levels in urine over multiple days, after suspected ovulation, and estimates whether the progesterone levels are sufficient for implantation, during the 7-10 day implantation window.</p></div>

Long-term demographic changes are finally bringing fertility technologies into focus.

Fertility Tech

<div>
  <p>
    Proov (formerly known as MFB Fertility) offers the at-home “Proov'' ovulation and progesterone test. Proov tracks hormone levels in urine over multiple days, after suspected ovulation, and estimates whether the progesterone levels are sufficient for implantation, during the 7-10 day implantation window.
  </p>
  <p>
    As of May 2021, it was the only FDA-cleared urine PdG (urine metabolite of the progesterone hormone) test, and its method of determining the fertile window was patented. Moreover, it received the CE marking and expanded its sales footprint to Europe in June 2021.
  </p>
  <p>
    In June 2020, the company received a USD 1.3 million deal from the US Air Force, to provide Proov kits to enrolled individuals. The Proov test was distributed through leading US retailers such as Target and Amazon, and was also used by doctors across the country.
  </p>
  <p>
    Proov raised USD 9.7 million in Series A funding in December 2021, in a round led by Hambrecht Ducera Growth Ventures, with participation from other venture capital firms such as SteelSky Ventures, WCC Partners, and Lightship Capital, among others. The company expects to use the funding to grow its “Complete” product, which includes follicle-stimulating hormone tests and other multi-hormone tests that measure estrone glucuronide, LH and PdG.
  </p>
</div>


<div>
  <p>
    Glow offers apps that track data related to women’s fertility including ovulation cycle and pregnancy tracking. In addition to apps, the company also offers individualized fertility coaching, clinic identification and community support, and links patients with clinics for procedures such as egg freezing. 
  </p>
  <p>
    Glow generated around USD 0.3 million monthly revenue in October 2020, and as of February 2019 it had around 15 million users, and claims to have helped about 950,000 women get pregnant (from May 2013 to February 2019). In February 2019 Glow partnered with US Match Group (provider of dating products such as Match.com and Tinder), to provide Match’s employees with egg freezing benefits at reputed fertility clinics. In May 2017 it partnered with the National Institute of Health (NIH) to update a prediction model for couples trying to conceive.  
  </p>
  <p>
    In 2020, the company faced investigations into privacy and security failures involving its app. Glow agreed to pay a USD 0.25 million settlement in September 2020.
  </p>
  <p>
  </p>
</div>


Glow

<div>
  <p>
    Inne, based in Germany, offers an at-home mini lab kit for women. Hormone analysis is conducted based on saliva samples. The lab device connects to smartphones for storage and access to the analysis results.
  </p>
  <p>
    Unlike peer offerings, Inne does not attempt to predict future cycles and fertility dates, and instead educates users about their bodies, with information on what changes they should feel in response to the hormonal levels on the day.
  </p>
  <p>
    In May 2022, Inne 
    <a href="https://sp-edge.com/updates/10667?industryIds=40">
      <u>raised USD 10 million</u>
    </a>
     in an extension to its Series A round led by DSM Venturing. The company utilized the funds to continue the development of its mini lab and platform, grow its team, and support its expansion across the US, where it aims to enter with its perimenopause feature, followed by an expanded product launch in late 2022.
  </p>
  <p>
  </p>
</div>


Inne

<div>
  <p>
    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.
  </p>
  <p>
    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.
  </p>
  <p>
    Progyny connects patients to a network of 800 fertility specialists and nearly 600 clinic locations.&nbsp;
  </p>
  <p>
    <b>Key customers and partnerships</b>
  </p>
  <p>
    As of March 2022, the company served 264 enterprise customers (including Facebook, Microsoft, Google, and Nasdaq), and had 3.9 million active members.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    In October 2019, Progyny raised USD 130 million through its IPO, where it was listed on the Nasdaq.
  </p>
  <p>
    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&rsquo;s revenue for 
    <a href="https://sp-edge.com/updates/14396">
      <u>Q3 FY2022</u>
    </a>
     amounted to USD 205.4 million, representing 68% YoY growth. The management&rsquo;s revenue guidance for FY2022 ranges between USD 775 million and USD 785 million, which implies an YoY growth of 55% to 57%.
  </p>
</div>


Progyny

<div>
  <p>
    Prima Temp offers the artificial intelligence (AI) assisted “Priya” intarvaginal ring sensor and accompanying app to continuously measure a woman’s core body temperature, predicting fertility windows. The app uses big data to improve its predictions, and the app notifies the user of fertile windows. The company also offers the “Kindara” fertility tracking app, which provides fertility related education and links users to a community of over 140,000 members.  
  </p>
  <p>
    The company raised USD 5 million in funding in May 2019 from Gedeon Richter, a Hungarian pharmaceutical company. Although the company primarily focuses on fertility monitoring, it intends to expand its offerings to include other areas of fertility management such as contraception and menopause.  
  </p>
  <p>
  </p>
  <p>
  </p>
</div>


Prima Temp

Uses AI/ML to improve cycle predictions and track symptoms

Some startups use genetic screening to tailor treatment or identify underlying issues

Offers digital platforms and apps to provide fertility-related support

Test kits which use saliva, blood, or temperature to determine hormone levels and form conclusions on fertility and fertility cycles.


Proov

Fertility Tech

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Proov raises USD 9.7 million in Series A funding

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