The Femtech Frontier: Opportunities in Women's Health Technology + the VCs Investing

Angelina Graumann

As a femtech founder navigating the ever-evolving landscape of women-specific health solutions, I find it crucial to understand the industry's breadth and the opportunities it presents. As the market continues to expand, driven by innovation and a more profound societal recognition of these needs, understanding the current trends, market size, and potential gaps is essential for anyone looking to make a significant impact in this space.

Start Your Free Trial
Try Visible for Free for 14 Days.
Start Your Free Trial
14-Day Free Trial - No CC Required

Understanding the Femtech Landscape

Femtech encompasses a broad spectrum of software, diagnostics, products, and services designed specifically to address women’s health issues. This sector includes solutions for female-specific health concerns such as fertility, birth control, menstruation and period care, menopause, chronic conditions and hormonal disorders, pelvic health, pregnancy and post-pregnancy care, breastfeeding, and sexual wellness. Moreover, femtech also extends into emerging health spaces that recognize gender-specific healthcare needs, encompassing wellness and mental health areas such as osteoporosis, breast cancer, autoimmune conditions, stroke, thyroid issues, chronic fatigue, anxiety, and depression. Beyond physical and mental health, femtech products increasingly empower women in areas traditionally underserved by technology, including personal finance and education.

Evolution of the Industry

The femtech industry began to gain prominence in the early 2010s as entrepreneurs and investors realized the significant underserved market in women's health technology. Initially focusing on reproductive health and period-tracking apps, the sector has since expanded into a wide range of health categories and now includes sophisticated diagnostic tools, telehealth services, and personalized wellness products. This evolution reflects a broader societal shift towards more open conversations about women's health issues and a growing recognition of the economic potential of addressing these needs.

Current Market Size and Projected Growth

The femtech industry has seen explosive growth over the past decade. As of recent estimates, the global femtech market is valued at several billion dollars and is projected to grow substantially as the demand for women-specific health solutions continues to increase. This growth is driven by technological advancements, increasing female healthcare consumerism, and a rising number of women in STEM fields who are poised to innovate and lead in this space.

Key Areas of Innovation

  1. Reproductive Health and Fertility: Innovations include apps and devices that improve fertility tracking, in vitro fertilization (IVF) technologies, and non-invasive pregnancy monitoring tools.
  2. Menstrual Health: Advanced menstrual products that go beyond traditional offerings, smart menstrual cups, and wearable technologies are transforming menstrual health management.
  3. Menopause Solutions: With an aging population, digital therapeutics, hormone replacement therapies, and lifestyle management apps specifically for menopause are increasing.
  4. Chronic Conditions and Hormonal Disorders: Technologies aimed at managing conditions like polycystic ovary syndrome (PCOS) and endometriosis through better diagnostics and personalized treatments.
  5. Mental Health: Platforms focusing on mental health issues prevalent in women, such as postpartum depression, anxiety, and the psychological aspects of chronic health issues.

Femtech Industry Trends and Opportunities

The femtech sector has been characterized by several prominent trends highlighting the current momentum and the industry's future potential. A growing focus on personalized healthcare has propelled the development of bespoke femtech solutions that cater to individual health needs. There is also an increasing crossover between wellness and healthcare, where apps and devices integrate preventive care with daily wellness routines, reflecting a holistic approach to women's health. Expanding community-based platforms has also fostered a supportive network where users share experiences and advice, enhancing user engagement and retention.

Emerging Technologies and Their Potential Impact

  1. Artificial Intelligence (AI): AI is revolutionizing femtech by enabling more accurate diagnostics and predictive analytics. AI-driven platforms can analyze vast amounts of data to predict health trends, personalize healthcare recommendations, and optimize treatment plans.
  2. Telehealth: The pandemic accelerated the adoption of telehealth in femtech. This technology provides women with remote access to healthcare professionals for a variety of issues, from fertility consultations to mental health support. It is crucial to make healthcare more accessible, especially in underserved areas.
  3. Wearable Devices: Wearables have evolved from fitness tracking to sophisticated health monitoring tools. In femtech, wearable devices now track menstrual cycles, monitor pregnancy, and even detect early signs of breast cancer, offering continuous, real-time health monitoring.

Examples of Successful Femtech Companies

  • Clue: A leading menstrual health app that uses data to predict menstrual cycles and offer insights into reproductive health. Clue has set a high standard for privacy and scientific accuracy, making it a trusted tool for millions of women globally.
  • Elvie: Known for its innovative breast pumps and pelvic floor trainers, Elvie combines sleek, discreet designs with powerful, smart technology, significantly improving women's lives post-pregnancy and beyond.
  • Tia: This company offers a holistic healthcare approach for women by integrating virtual and in-person care, focusing on everything from gynecology to mental health, embodying the integrated care model that is becoming a trend in femtech.

Potential Gaps in the Market and Opportunities for Innovation

Despite the advancements, several areas within femtech still lack adequate solutions, presenting opportunities for innovation:

  • Menopause Management: There is a noticeable gap in products addressing the full spectrum of menopause symptoms. Innovations in hormone replacement therapy delivery or non-hormonal symptom management can meet significant demand.
  • Health Issues in Aging Women: Conditions like osteoporosis and cardiovascular health in post-menopausal women are underrepresented in current femtech products.
  • Mental Health: While some platforms address postpartum depression, broader mental health issues linked to hormonal changes throughout a woman's life cycle are still underserved.
  • Global Accessibility: Many femtech products are not readily available or affordable globally, especially in developing countries. Creating scalable solutions that are both accessible and culturally sensitive could expand the reach of femtech significantly.

Fundraising Strategies for Femtech Startups

Fundraising in the femtech sector has evolved significantly over the past decade, with more investors recognizing the potential of women-centric health solutions. Increasing awareness and successful exits are driving more interest from venture capitalists, angel investors, and strategic partners. Notably, the unique nature of femtech, which combines technology, healthcare, and direct-to-consumer elements, appeals to a diverse group of investors looking to impact women's health globally.

What Investors are Looking for in Femtech Startups

Investors interested in femtech are particularly keen on startups that:

  • Address a Clear Unmet Need: Products that solve a real and significant problem in women’s health are more likely to attract attention.
  • Have a Scalable Business Model: Investors look for companies with the potential to grow quickly and sustainably.
  • Show Strong Founder Expertise: Teams with backgrounds in healthcare, technology, and business, or with personal experiences that motivate their vision, are often more compelling.
  • Demonstrate Technological Innovation: Startups that leverage new technologies to improve outcomes, efficiency, or user experiences stand out in the fundraising process.
  • Provide Evidence-Based Solutions: Given the health-focused nature of femtech, products backed by scientific research and data are more likely to gain investor confidence.

Related resource: The Rise of Women-Led VC Firms (+ a List to Keep an Eye on)

Crafting a Compelling Pitch

  • Articulate the Problem and Your Unique Solution: Clearly define the specific women's health issue your product addresses and how your solution is different from or better than existing offerings.
  • Highlight the Market Potential: Use data to demonstrate the size of the market and your target demographic. Show how your product fits into the broader health and wellness industry trends.
  • Showcase Your Team’s Expertise: Emphasize the qualifications and experiences of your team that make you the right people to execute this vision.
  • Provide Proof of Concept: Whether through initial sales data, user testimonials, or clinical trials, show that there is a demand for your product and that it works.
  • Discuss Your Business Model: Explain how you will generate revenue, your pricing strategy, and your marketing approach. Be clear about how you intend to scale.
  • Outline the Use of Funds: Be specific about how much money you need and how you plan to use it to grow your business.

Related resource: 10+ VCs & Accelerators Investing in Underrepresented Founders

VCs and Accelerators Investing in Femtech Startups 2024

FemTech Lab

  • Location: London, England
  • About: Unlocking Women's health and wellness for a fairer, better World. Join the movement! FemTech Lab is a global ecosystem of 20,000+ founders, investors, corporate partners, biotech and research, hospitals, pharmaceuticals, government, and retail leaders innovating across all women's health and wellness subsectors. The FemTech Lab Accelerator program has supported 70+ inspiring startups in women's health. If you are interested in applying, check out the timing of the next cohort on our website and sign up for the next open webinar.

Goddess Gaia Ventures

  • Location: London, GB
  • About: A female founded pre series A fund (in building mode) investing in 360 solutions in female health, wellness and Femtech in a + $1 Trillion TAM which has to date been under-served, under-researched and under-funded . Mission Statement: To grow the next generation of Women’s healthcare unicorns We invest in: UK, Europe, Greater Europe and Israel and scaling these companies into the US We partner with: Founders (male and female) seeking to invent new market categories or who are seeking to disrupt incumbent healthcare markets Exponential Sector Growth: Increase of women in STEM and Finance; innovating for themselves Special Interest: Solutions that cater to the health of women of colour and that create healthcare parity
  • Thesis: Goddess Gaia Ventures (GGV) is capitalising on the $1.1 trillion women’s healthcare market by investing in five core pillars - women's fertility; women's cancer; women's wellness; women's lifestyle diseases and Femtech products and services.

Amboy Street Ventures

  • Location: Los Angeles, California, United States
  • About: The world’s first venture capital fund focused on Sexual Health & Women’s Health Technology startups. Amboy Street Ventures is an active investor and adds value above and beyond capital. Its dedicated Value Enhancement Team supports portfolio companies with marketing & branding, sales & distribution, product development & scientific innovation and public education resources through its position within the Healthy Pleasure Group, an ecosystem dedicated to solving the problems that startups face in the Sexual Health and Women’s Health Tech market.
  • Thesis: Amboy Street Ventures invests in the Seed and Series A rounds of Sexual Health & Women’s Health Technology startups that are progressing the industry in America and Europe.

Astarte Ventures

  • Location: New Jersey, United States
  • About: Astarte Ventures is an innovation and investment consulting firm, with expertise in women's health, pediatrics, health equity, AI, and gut health.
  • Thesis: Investing to improve the health and wellbeing of women and children.

Avestria Ventures

  • Location: San Francisco, California
  • About: Avestria Ventures is an investment firm that focuses on women's health and female-led life science and healthcare companies.
  • Thesis: We invest in women’s health and life science; it’s what we know best.

Everywhere Ventures

  • Location: New York, United States
  • About: Global pre-seed fund backed by 500 founders and operators.
  • Thesis: We invest $50-250k into pre-seed companies looking to raise between $500-$2M. We are happy to lead or partner with other investors. We are generalists at heart, but lean into three core areas: money, health, and work. We embrace first-time founders, and founders who may lack traction but have a distinct vision for a world that may not exist…yet.

Emmeline Ventures

  • Location: Los Angeles, CA
  • About: Emmeline Ventures is a female-founded early-stage fund investing in ambitious female founders building businesses that are helping women, in particular, manage their health, build their wealth, and live in a cleaner, safer world.
  • Thesis: We invest across women's health, financial services, and sustainability specifically where breakout technology and innovaton is helping women live & thrive.

Resources for Femtech Founders

Start Your Next Round with Visible

We believe great outcomes happen when founders forge relationships with investors and potential investors. We created our Connect Investor Database to help you in the first step of this journey.

Instead of wasting time trying to figure out investor fit and profile for their given stage and industry, we created filters allowing you to find VC’s and accelerators who are looking to invest in companies like you. Check out all our investors here and filter as needed.

After learning more about them with the profile information and resources given you can reach out to them with a tailored email. To help craft that first email check out 5 Strategies for Cold Emailing Potential Investors.

After finding the right Investor you can create a personalized investor database with Visible. Combine qualified investors from Visible Connect with your own investor lists to share targeted Updates, decks, and dashboards. Start your free trial here.

You may also enjoy:
Product Updates
Shaping the Future: Unveiling Our Brand Refresh
Visible started as a way for founders to update their investors but has since transformed into a purpose-built platform for both founders and investors. Since 2014, we’ve powered over 3M interactions between founders and investors. Our brand refresh represents our commitment to equip founders and the investors who back them. Founders can now manage their investor relationships and capital raises from start to finish. Investors can centralize data, uncover insights, and report to their LPs and stakeholders—all from one place. We are excited to unveil our refreshed brand, marking the beginning of the next decade in our dedication and commitment to founders and investors. Equipping Founders and Investors for Growth Raising capital is fundamentally about building relationships. Founders and investors spend months forging connections that, once solidified by a term sheet, can evolve into partnerships lasting 8 to 10 years and beyond. We set out to highlight the people behind the investments, not just the companies or firms they represent. As we continue to grow, you'll notice more familiar faces from different startups and venture funds featured on our site (👋 Hi Lacey!). Shaping Our Future Across our website and marketing assets, you’ll see 3D shapes floating in the background. While they add aesthetic appeal, they also carry a deeper meaning. For example: We believe raising capital from VCs or LPs closely resembles a fundraising funnel, a concept brought to life through the funnel shape that appears across various pages and assets. Sphere, torus, and pill shapes symbolize the connections between VCs, founders, and stakeholders, reflecting the interwoven nature of these relationships. These forms also symbolize forward momentum and the continuous progression within the venture ecosystem. As our product has evolved to offer greater flexibility in moving data into and out of Visible, you'll notice pipes integrated into the design, visually representing the seamless flow of data through our platform. Logo and Wordmark To maintain and perpetuate our brand equity, we opted to anchor our brand to our current logo and wordmark. The Visible logomark is made from three overlapping, equilateral triangles. Each triangle is slightly transparent, allowing the mark to interact with other design elements. These triangles represent human relationships and the connection between founders and investors, which is core to our mission and vision for our company. Color Palette Our signature black primary color remains, but we've refined our palette for a fresh look. We've transitioned from a complex, rich color scheme to a more cohesive and defined palette, creating a unified and bold approach to color across our brand. Introducing the new Visible color palette: Product Guided by our core values of trust and transparency, we designed our product to embody these principles. Our product visuals across the site are predominantly high-fidelity for the first time, highlighting its capabilities visually rather than relying solely on words. The updated typography and refined color palette are seamlessly integrated into our product screens, further enhancing the overall brand experience. Voice & Tone A brand is more than just its visual identity; it requires a voice and tone that harmonizes with its design. We aimed for our voice to be authentic, credible, and consistent, supporting both investors and founders alike. This commitment led us to define key principles for our voice and tone: Be a guide Less is more Recognize that different users face different challenges As you explore our marketing site, we hope Visible reflects these values and resonates with you. Transparency = Trust As we noted earlier, raising capital is fundamentally about relationships. Trust and transparency form the foundation of any strong connection. Throughout our website, you'll notice subtle transparency elements that embody this core principle. This new iteration of our brand is built to scale, but that doesn’t mean we won’t continue to evolve and elevate the experience for the betterment of our prospects and customers. Here's to shaping the next 10 years! Up and to the right,  The Visible Team
Product Updates
Product Update: Turn Emails Into Insights With Visible AI Inbox
Customer Stories
Case Study: Airtree Venture's Transformation with Visible
Fundraising
9 Tips for Effective Investor Networking