UK-based virtual fertility clinic Apricity raises €17M… Leave a comment
Apricity CEO, Caroline Noublanche | Image credit: Apricity
London-based Apricity, a virtual fertility clinic, announced on Monday that it has raised €17M in a Series B round of funding led by Swiss healthtech investor, MTIP. The round also saw participation from Barcelona-based specialist consumer fund, Iris Ventures.
Marc Dietrich, who joins the board of directors of Apricity on behalf of MTIP, says, “Fertility tech is one of the most important areas of healthcare innovation and we’re excited to support Apricity as it leads the industry to new heights.”
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Capital utilisation
Apricity says it will use the proceeds to accelerate its growth in the UK, expand to Spain before the end of the year, followed by Germany and Italy, and further develop its technology. The startup aims to become the leading fertility player in Europe, and will also expand its at-home services to include at-home ultrasound scans in select areas.
Founder Caroline Noublanche says, “MTIP’s deep-rooted understanding of the healthcare landscape combined with Iris Ventures’ expertise in the consumer space will be invaluable as Apricity enters its next stage of growth and we expand into more regions. We look forward to supporting more women and couples across Europe who are struggling to conceive and can now hope for a better, less stressful alternative option.”
The next-generation fertility clinic
In vitro fertilisation (IVF) has been available for 40 years, but access to care hasn’t changed, leaving many women and couples feeling scared, frustrated, or confused about their care. This is what Apricity is looking to change.
Founded in 2018 by Caroline Noublanche, Apricity is a virtual fertility clinic that claims to combine technology and artificial intelligence with personalised care and medical expertise.
The company’s digital solution aims to maximise chances of conception, while also enhancing the fertility experience. This is accomplished by giving patients access to top-tier fertility experts and a customised treatment route, both of which may be conveniently accessed via a mobile app.
With one in six couples experiencing problems conceiving, in contrast to the UK average of 31 per cent, Apricity claims to offer a 46 per cent success rate every cycle.
Recent developments
Over the past year, Apricity says it has witnessed rapid growth, more than doubling both its revenue and customer growth. Earlier in May, the company acquired Madrid-based period-tracking software Woom, and scooped up big corporate clients that utilise Apricity’s services as part of their employee benefits, including IT firms, banks, and the top UK suppliers of employee benefits, AXA and Reward Gateway. More than a third of its current income comes from B2B products.
Apricity says it recently created groundbreaking AI algorithms that help patients choose the fertility therapy that would work best for them before selecting the ideal embryo through 3D reconstruction. Apricity claims to be the first business to provide 3D reconstructive technology for embryos to support fertility treatments.
About the investors
MTIP is a growth equity firm that backs European healthtech companies. The firm claims to offer deep sector expertise to help the founders scale up sustainable digital health businesses. MTIP aims to empower healthtech innovation with the potential to impact and improve millions of lives.
IRIS Ventures is the advisor to IRIS Fund I FCRE, a growth equity fund targeting European and US purpose-led consumer-centric brands and tech-enabled solutions that solve for healthier, happier and more convenient lives. IRIS Ventures has presence in Barcelona, London and New York.
Montse Suarez, Founder and Managing Partner at IRIS Ventures, says, “There is no doubt Apricity is a stand-out in their field, using patient-centric technology to make a real impact in the lives of fertility patients, delivering high-quality care when and where patients need it most. It is just a matter of time until Apricity’s big success in the UK is exported to other European markets, such as Spain, and we are proud to come together with Caroline and the entire team at Apricity in their mission to reimagine fertility care.”
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