Clue, an app built on machine learning to track a woman’s monthly menstrual cycle, announced it has raised $20 million in Series B funding today.
The money comes from several investors with a focus in the healthcare space and was led by Nokia Growth Partners (NGP). Other participants in the round include existing investors Union Square Ventures, Mosaic Ventures, Brigitte Mohn and Christophe Maire. Giving Wings and Fabrice also participated as new investors in the round.The Berlin-based startup launched in 2013 to build an app to track ovulation cycles but has since grown to more than 5 million users who log in to track everything from their mood to whether they’re “in the mood.”
Clue is part of a growing sector of apps offering to track the crimson flow like Max Levchin’s Eve, Cycles, Life and My Calendar. Apple finally added a period tracking capability to the iPhone as well.
Clue helps you keep an accurate account of when your last period started and stopped, different symptoms your body might experience with hormonal changes and it offers a predictive calendar to give you an idea of when your next period is about to start.
Clue says it plans to use the new funding to further development of the Clue app — though it didn’t want to elaborate on what those developments might be. However, Clue founder Ida Tin told us on stage in September at TechCrunch Disrupt SF she was “looking forward to a time when wearables and mobile phones could do more technically complex things like disease detection.”
The startup revealed a feature around that same time allowing users to share their data with others privately and now claims to help women in more than 190 countries accurately predict their periods, fertile windows and premenstrual syndrome and share that information with friends and partners.
NGP’s Walter Masalin mentioned the data as a key factor in the investment, saying Clue was part of a mobile health care “transformation.”
Tin agreed, telling TechCrunch in a statement, “I feel as strongly as ever that Clue’s mission is to keep female health and its advancement at the top of the global agenda.”
“I am thrilled to partner with a prestigious circle of investors who share our vision,” Tin said. “And when you consider that more than half of the world’s population is female, you realize how enormous the market potential and opportunity for Femtech companies is to truly make an impact.”
The new funding now puts the total raised for Clue at $30 million.