• Legacy, a digital male fertility startup, has raised USD 25 million in a Series B funding round led by Bain Capital Ventures with participation from existing investors such as FirstMark Capital and new investors such as Valor Equity Partners. The round values the company at USD 150 million and brings the total funds raised to USD 45 million.

• The funds will 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 will also be used to increase its fertility offerings beyond sperm testing, sperm freezing, and fertility support, and to double its employee headcount.

• Legacy increased its revenue by 7x in 2020 and quadrupled the revenue last year. The company provides its fertility services to nearly 8 million individuals through partnerships with fertility benefits providers. It also covers an additional 12 million lives through insurance contracts with insurers including Aetna, Cigna, and UnitedHealthcare in California, New York, and New Jersey.

<ul><li> Analyst QuickTake : Legacy’s Series B follows an undisclosed round of strategic funding in October last year, which saw participation from top-tier celebrities such as Justin Bieber, DJ Khaled, The Weeknd, and Orlando Bloom. Legacy has been featured in this year’s EDGE100 report, where we identified the most promising early-stage startups across various emerging industries that have the potential to reshape the future.</ul>