Femtech: Apricity acquires period tracking app Woom
Apricity, a London-based virtual fertility clinic, has acquired Woom, an international women’s health app offering period tracking and community support for those looking to conceive a child.
The terms of the transaction have not been disclosed.
Through the acquisition, Apricity aims at four key areas of acceleration including improved lead generation, geographical expansion beyond France and the UK, increased user engagement, and AI optimisation.
Founded in 2018, Apricity is a virtual fertility startup which leverages AI and tech and combines it with personalised human care to maximise chances of IVF success. Latest filings on Companies House have Apricity’s revenue at £1 million for the year ending 31 December 2020.
Earlier this month, at an LSX World Congress panel, Apricity’s co-founder and chief executive Caroline Noublanche revealed the company’s plans to become an EU “rival” reaching a $200 million revenue by 2027.
Woom was established in 2015, in Madrid, Spain. The company has created a robust AI engine that offers a personalised period tracker and manages a community of 1.8 million registered users internationally. Woom has registered more than 156,000 pregnancies to date and one of the most substantial databases on women’s fertility cycles.
According to Dealroom, Woom has received $4.5 million in funding to date and has a valuation between $9 million to $13 million.
With 50% of Woom’s monthly average users struggling to conceive, Apricity will be able to offer a proactive, rather than reactive, treatment plan to all prospective customers, much earlier in their fertility journey, the company said.
Noublanche said, “Under Clelia Morales and Laurence Fontinoy’s incredible leadership and vision, Woom has become a reference for millions of women trying to conceive in Spain and Latin America. I am thrilled to have Woom join the Apricity family as we continue our European geographical expansion, offering truly personalised fertility care using the very best in data and digital to women and couples that are having difficulty with conception. The Woom app will also help Apricity deliver its promise of less stress and more success to people who are not eligible, or not yet ready for treatment.”
Woom co-founder and chief operating officer, Clelia Morales commented: “Woom is delighted to be joining forces with Apricity. Together we have a shared and aligned mission in family building and are committed to delivering a customised data-driven and community-based solution, to empower and connect women to better understand their choices for becoming a mother. There is still a long way to go in ensuring that people have a more full-filling and stress-free fertility journey”
The acquisition follows Apricity’s Series A funding round in June 2019 for £5.1 million with participation of Kamet Ventures.