Press release: Future Family raises $10MM Series to provide affordable fertility options
SAN FRANCISCO, Calif. - October 18, 2018 - Future Family, the female-founded company making world-class fertility care accessible to women and couples nationwide, today announced it has raised $10 million in Series A funding led by Aspect Ventures, with participation from iNovia, BBG Ventures, LaunchCapital, RiverPark Ventures, Ulu Ventures, Day One Ventures, and Portfolia. The company will use the funding to expand its new subscription service to top-rated fertility clinics across the country. Aspect Ventures Partner Lauren Kolodny will join the Future Family Board of Directors.
Our goal at Future Family is stress-free care. For us, that starts with easy subscriptions that make it affordable, accessible and personal, with all the support systems you need to navigate a complex healthcare journey. - Claire Tomkins, Founder and CEO
Unlike traditional financing plans for fertility care, which are rigid and charge high upfront costs, Future Family plans are more akin to services like Netflix: they are convenient, offer the most flexible financing option on the market today, allow clients to get started right away, and are cancelable at any time. With the addition of concierge care, women and couples are getting personal, supported care with their subscription. The company can also offer plans for IVF, egg freezing, 24/7 on-demand support, and all the medical costs associated with these procedures into one monthly payment. Plans can be customized to cover the cost of elective services like genetic testing–as well as travel expenses if needed.
The company was born out of CEO Claire Tomkins’ personal fertility struggles, which inspired her to change the experience for other women and couples. After undergoing six rounds of IVF costing more than $100,000 to conceive her daughter, Claire dealt firsthand with the fragmented, expensive, and isolating fertility service. Applying her background in consumer finance as a former SolarCity executive, Claire created Future Family to remove the stress associated with fertility care.
“Going through IVF was the most stressful period of my life, not knowing if it would work and failing through multiple rounds,” said Claire Tomkins, founder and CEO of Future Family. “Our goal at Future Family is stress-free care. For us, that starts with easy subscriptions that make it affordable, accessible and personal, with all the support systems you need to navigate a complex healthcare journey. I’m thrilled to be partnering with the team at Aspect Ventures, who share our passion for solving this problem.”
Through personal passion and deep experience, Claire and her team at Future Family are addressing many of the pain points of fertility care head-on and are offering millennials the choice, flexibility, and affordability that is currently lacking. - Lauren Colony, Partner - Aspect Ventures
Aspect Ventures is a leading venture capital firm in Silicon Valley founded in 2014 by two industry veterans - Theresia Gouw and Jennifer Fonstad. The firm raised its first institutional fund of $150 million in 2015 and a second investment fund of $181 million in 2017. Aspect invests across a broad array of industries including cybersecurity, future of work, digital health, and several other emerging technology areas.
“As we see more and more families choosing to have children later in life, the pain of navigating the complex, emotional and expensive process of fertility care only becomes more pronounced,” said Lauren Kolodny, Partner at Aspect Ventures. “Through personal passion and deep experience, Claire and her team at Future Family are addressing many of the pain points of fertility care head-on and are offering millennials the choice, flexibility, and affordability that is currently lacking.”
“We look for companies with the potential to leverage technology to develop exceptional consumer experiences and drive business model innovation. Future Family does both,” said Antoine Nivard, Principal, iNovia Capital. “Claire and her team have created a strong community behind their unique end-to-end solution for fertility care that perfectly addresses the needs of millions of people throughout the entire journey. We are excited to be part of Future Family’s next phase of growth as they reinvent fertility care for consumers and clinics across the country.”
We look for companies with the potential to leverage technology to develop exceptional consumer experiences and drive business model innovation. Future Family does both,” - Antoine Nivard, Principal, iNovia Capital.
Over the past year, Future Family has tripled its network of expert fertility nurses and expanded its clinic partnership program to top clinics across the country, including CCRM, Vios Fertility, and HRC.
Future Family’s team has truly gone above and beyond in making us feel supported. Without them, we wouldn’t have our son. - Heather Olivas, Future Family client.
“Before my husband and I found Future Family, we would have had to wait at least another year to start IVF because we couldn’t afford any other options -- we just didn’t have $15,000 to spare up front,” said Heather Olivas, a Future Family client who gave birth to her son in September 2018. “Future Family’s team has truly gone above and beyond in making us feel supported. Without them, we wouldn’t have our son.”
To learn more visit: www.futurefamily.com
About Future Family:
Future Family is where women, men, and couples start their fertility journey. The company’s mission is to make fertility care accessible and affordable to all. Future Family combines advances in fintech, fertility, and concierge care to empower women and couples throughout their fertility journey. Future Family was founded by former SolarCity exec Claire Tomkins, who was inspired by her own fertility struggles to improve the experience for other women and Eve Blossom, a serial entrepreneur in social impact and technology companies.
VSC for Future Family