Women’s health app Flo has become the latest UK tech unicorn, securing a $200m (£156m) Series C round at a valuation north of $1bn.
Launched in 2016, Flo is an app covering every stage of a woman’s health goals. The Flo platform monitors symptoms associated with menstruation, conception, pregnancy and menopause.
The app offers health insights, tips from experts and a digital community to discuss health topics.
Since its launch the app has been downloaded more than 100 million times, becoming one of the most popular health apps available.
“Reaching unicorn status is a significant milestone for Flo and the entire femtech industry,” said Dmitry Gurski, co-founder and CEO of Flo Health.
“When we started Flo, we identified a huge gap in women’s health services. Now, we’re a leader in a global movement to make women’s health a priority everywhere.”
Gurski said the company’s goal is to reach one billion users globally with a new initiative to offer free access to the app’s premium tier in 66 countries, including India, Indonesia and Nigeria.
The funding round came from New York-headquartered private equity firm General Atlantic.
“We believe Flo is a category leader and look forward to leveraging our deep expertise across disruptive consumer technology and subscription platforms to support the company’s continued growth,” said Jessie Cai, principal at General Atlantic.
“We are excited about their big vision and the innovation ahead for the broader women’s health and wellness ecosystem.”
Flo joins AI voice cloning startup ElevenLabs, quantum computing firm Quantinuum and autonomous vehicle software developer Wayve as one of the few UK firms to achieve a unicorn valuation in 2024.