Fellow Health, a male reproductive health company, has scored $24 million in Series B funding.
The round was led by 5AM Ventures, with participation from The Forest Road Company.
The round complements Fellow Health’s previous Series A financing round and follow-on funding, bringing the company’s total capital raise to $48 million.
WHAT IT DOES
Fellow Health provides mail-in semen analysis, vasectomy tests and cryopreservation.
The company partners with more than 1,800 clinical practices and processes over 400 patient samples daily through its CLIA-certified lab.
According to the company, the CLIA-certified diagnostics lab combines mail-in semen analysis with peer-reviewed clinical performance, aiming to provide clinically valid results in under two business days from the time a specimen reaches Fellow Health's laboratory.
The company will use the funding to expand its mail-in semen analysis services, as well as fertility and post-vasectomy testing and to grow its clinical partner network.
"Male reproductive health should not be reactive or inaccessible," Brian Hogan, CEO of Fellow Health, said in a statement.
"We are on track to deliver over 40% year-over-year revenue growth, with a path to profitability in our fertility segment by 2026. This investment allows us to scale that vision and support both patients and providers with modern tools that work."
MARKET SNAPSHOT
Other companies in the men's fertility space include Posterity Health, which secured $13 million in Series A funding in February.
Georgetown Equity Partners led the round, with participation from existing investors Distributed Ventures, WVV and FCA Venture Partners, as well as new investors SteelSky Ventures and Scrub Capital.
In 2023, Mark Cuban Cost Plus Drug Company (MCCPDC) partnered with Posterity Health to provide males with access to medications to treat infertility, sexual dysfunction and low testosterone.
In 2022, direct-to-consumer virtual care company Ro acquired Dadi, a male fertility and sperm testing startup.
The acquisition came less than a year after Ro scooped up another reproductive health-focused company, Modern Fertility.
As part of the deal, the virtual care company retired the Dadi name and launched the Ro Sperm Kit, which allows users to collect samples at home for analysis and storage.
The kit is available via Modern Fertility and Roman, Ro's men's health brand.
