Period and fertility app Clue raises $20 million in a Series B funding round led by Nokia Growth Partners

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Founded in 2013, Clue has gone from an app used by a handful of people to a tool used by over five million women to understand their menstrual health.

Today, the Berlin-based startup proudly announced a Series B funding of $20 million led by Nokia Growth Partners (NGP), along with existing investors Union Square Ventures (USV), Mosaic Ventures, Brigitte Mohn and Christophe Maire, and additional new investors, Giving Wings and Fabrice Grinda. This latest funding round takes Clue’s total investments up to $30 million.

The fresh capital will be used to continue developing the Clue app, provide smarter personalized insights to the Clue users, expand the team and inform more people around the world about Clue.

Ida Tin, CEO and co-founder of Clue stated: “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 and I am thrilled to partner with a prestigious circle of investors who share our vision. Healthcare is already going digital, just look at the 60% of smartphone users in the US using their devices to manage health. Female health is also driving this. 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.”

In the 13 months since Clue’s Series A funding round, the community has grown by 163%. In addition, the Berlin-based company established research partnerships with Stanford University, Columbia University, the University of Washington and the University of Oxford to guide the ongoing development of Clue.

Walter Masalin, from the lead investor Nokia Growth Partners stated: “We believe the widespread adoption of mobile and wearables will transform healthcare. Technology has given digital healthcare companies a way to collect and analyze data, while providing users with the tools to get deeper understanding and more control of their health. Clue is part of that transformation and we are privileged to lead Clue’s Series B funding round and support the company’s global ambitions.” 

Below you’ll find a video statement of the Clue CEO Ida Tin regarding the Series B funding and the company’s future: