Spanish startup WOOM, a tech startup focused on women’s health, has closed its fourth round of investment at €2 million led by BrightCap Ventures, with Begin Capital as an investor. With this new capital injection, the femtech startup will continue to concentrate its efforts on accompanying women throughout their lives, from cycle tracking to conception, pregnancy, and postpartum all the way to menopause.
Founded in July 2016 in Madrid but with an international vision, WOOM started at Google for Startups in Madrid with the help and mentoring of accelerator programmes SeedRocket, Google Campus Residency and TheVentureCity. The company helps women understand themselves better via the application which offers a personalised experience. The goal is to help women to conceive as soon as possible or make the decision to consult a fertility specialist quickly if necessary. WOOM has also has a community of women who support and advise each other.
With 1 million registered users and 1.6 million downloads, the app has helped over 60,000 women get pregnant. In Spain, 5% of the women giving birth already use WOOM. The startup has also established a solid position in the Spanish-speaking world, with a presence in seven countries: Argentina, Chile, Colombia, Peru, Mexico, USA and Spain. Having achieved a hold on the Spanish speaking market, the team has just launched a new English version to expand globally.
This new round will be focused on expanding the startup’s technical team with a clear approach towards data science and machine learning. The deep integration of these technologies will not only allow for the creation of predictive algorithms for women trying to get pregnant, but also for the development of products designed for different stages of women’s lives.
“At WOOM, we are excited to start this new phase with the support of BrightCap Ventures, the lead investor. Their help will be invaluable in strengthening our technology and growth,” said Laurence Fontinoy, WOOM’s CEO and co-founder. The board also highlights the achievement of closing the investment during the Covid pandemic: “This is a result of the interest WOOM is arousing, of course, but it is also a responsibility.”
“Our commitment to the entire field of women’s health and well-being through technology is compelling. Now more than ever, we believe that digital health projects with a scientific component are a powerful ally in enhancing public and private health systems. Never before have we ever been so close to creating an unprecedented impact on society and health through flexible, digital and solidly science-based technological systems such as WOOM,” Fontinoy concluded.
Elina Halatcheva, Partner at BrightCap Ventures commented: “We are very excited to welcome WOOM’s team to BrightCap’s family. We have strong confidence in the founders’ expertise in building active communities and solving clear women’s health challenges with a data-driven, customised solution. We are also proud to have attracted a European startup to build a team in Bulgaria, leveraging the tech talent here.”