Proov® to Expand Women’s Hormone Health Solutions to Advance Women’s Health and Offer More Accessible Care with $9.7M Series A Funding
By: Colorado BioScience Association Date: 12/09/2021
Proov, creator of the first and only FDA-cleared PdG-testing kit to educate and empower women about their reproductive health, announces today it raised $9.7 million in Series A Funding. The round was led by Hambrecht Ducera Growth Ventures. Additionally, venture capital firms SteelSky Ventures, WCC Partners, Lightship Capital, GingerBread Capital, and Portfolia FemTech II Fund participated in the round.
The Proov PdG test and its associated patented protocol are the first of its kind to confirm ovulation quality, which pertains to when ovulation happens and hormone levels remain elevated for long enough. Confirming ovulation quality is important when it comes to getting pregnant. Since the launch of its original PdG test, Proov has added other products to its portfolio including Proov Predict & Confirm that includes 2 types of tests to both find the 2 most fertile days and confirm ovulation quality. With Proov, women can better determine both when their ovulation is occurring and whether ovulation is occurring, with hormone levels high enough to provide the best chance at pregnancy that cycle. If Proov indicates there may be an ovulation issue, the user can then go to their doctor earlier to seek treatment to fix the problem.
With its newly launched “Complete” product, which the Series A funding will support, Proov has developed the leading at-home hormone testing suite for the four most critical hormones testable in urine, providing FSH, LH, E1G (estrogen marker) and PdG results to women at home. In combination with its easy to use at-home companion app, Proov Complete, now available at proovtest.com, provides the most comprehensive and affordable at-home hormonal pattern analysis across the menstrual cycle, requiring no expensive external reader device.
“I started this company in my basement after my own infertility battle and it has become more than I could have imagined. We are so excited to help women get even better information about their cycles to promote better treatment and ultimately better outcomes.” said MFB Fertility’s founder and CEO, Amy Beckley. “The patented devices and protocols created by Proov represent a fundamental shift in the information available to women about their hormone wellness, leveraging the power of a smartphone. In combination with our industry leading app, our patented protocols ensure that Proov will continue to offer the most robust and differentiated offering in the at-home female hormone testing space, which we are excited to build on” according to MFB Fertility’s CTO and Patent Counsel Jeffrey Schell. Beckley added: “with this funding, Proov is now poised to help women across life stages reach their goals faster and ultimately live better by increasing accessibility to key diagnostic and hormone health supporting solutions – both at home and in partnership with physicians.”
The Proov Insight App provides an easy to follow protocol, leading to quantitative hormone results associated with Proov products. The protocol concludes with an end of cycle report, explaining overall menstrual cycle results including ovulation quality confirmation, along with suggestions for next steps. The Proov Insight App also stores hormone trends over time. Importantly, the Proov Insight App works with iPhone and Android smartphones without the need for any expensive external device.
“What initially drew us to Proov was their traction in the market, but what has impressed us more is their vision to bring high quality, science-backed products that could have a game-changing impact on women’s health”, said Betsy Hambrecht, of Hambrect Ducera Growth Ventures. “We look forward to our partnership and to bringing better products and solutions to advance women’s health.”
What started as a simple test to confirm ovulation has evolved. Proov now exists to unleash the power of the menstrual cycle and reproductive hormones to help women reach their goals faster, live better, and feel their best. The company is built on its fundamental belief that women are innately powerful and with the right data, they are unstoppable.
To learn more about Proov® and its new Insights App, visit proovtest.com. To learn more about PdG and the benefits of tracking it, visit https://proovtest.com/pages/faq.
About MFB Fertility, Inc.
MFB Fertility, Inc. developed Proov®, an at-home PdG test that measures the presence of progesterone metabolite PdG in urine to help a woman confirm that she has ovulated successfully. Originally co-founded in Boulder, Colo. by two women who both struggled to conceive, MFB Fertility was created to empower women to know more about their menstrual cycles, ovulation health, and PdG levels. Don’t just predict ovulation, Proov it! For more information, please visit https://proovtest.com/.