Flora Fertility, an insurtech company focused on making fertility treatments more accessible and affordable, has closed an oversubscribed pre-seed funding round, raising $1.5 million. The funding will support the launch of Flora’s unique private fertility insurance product, initially targeting customers across the U.S. and Canada.
The funding round was led by Highline Beta, a Toronto-based venture studio, and co-invested by Cartography Capital, Everywhere Ventures, and a strategic group of angel investors from the insurance, tech, and financial services industries. The investment reflects the confidence in Flora’s potential to transform fertility care through innovation.
Co-founder Laura J. McDonald highlighted the company’s mission: “We want to make fertility care accessible and affordable for everyone. With our solution, women and families can proactively safeguard their reproductive future.”
Tackling the Infertility Crisis
Infertility affects 1 in 6 people globally, and the World Health Organization declared it a global health issue in 2023. Fertility treatments can cost upwards of $50,000, with many patients paying out of pocket. Flora Fertility aims to disrupt traditional models of funding, which often rely on loans or group-based insurance that lacks portability.
Flora’s fertility insurance will be the first individually-owned solution, allowing individuals to take control of their reproductive health, regardless of their job or location. This product is designed to offer portability and flexibility, with initial policyholders being women. The insurance plan will be distributed through partnerships with women’s health apps, small- to medium-sized employers, and other channels across North America.
Innovative Risk Models
Flora’s innovation lies in its development of individual risk models for fertility insurance, a first in the industry. Co-founder Dr. Christy Lane stated, “We’re proud to lead this innovation, using our expertise in women’s health, data science, and actuarial modeling to deliver a practical solution.”
The founding team, which includes McDonald, Lane, and Somil Jain, brings a wealth of experience in data analytics, actuarial science, and marketing. Their expertise is driving Flora to lead the market in personalized fertility insurance.
Strong Investor Support
Investors expressed excitement about Flora’s potential. Marcus Daniels, Founding Partner and CEO of Highline Beta, said, “Flora Fertility’s founders are boldly making a huge impact in women’s health with an innovative insurance solution.”
Ben Stein, General Partner at Cartography Capital, remarked, “We’re long overdue for underwriting models and insurance products created specifically for women, by women.” Jenny Fielding, Managing Partner at Everywhere Ventures, echoed the sentiment, stating, “Flora Fertility is democratizing access to fertility care… We’re proud to back a world-positive company making critical health benefits more accessible.”
With the backing of these investors and the vision of its founding team, Flora Fertility is poised to revolutionize how individuals and families finance fertility treatments, helping to alleviate the financial burden on those seeking reproductive healthcare.
