NEW YORK – At-home hormone testing company MFB Fertility announced on Tuesday that it has closed a $9.7 million Series A financing round.
The round was led by Hambrecht Ducera Growth Ventures, with participation from venture capital firms SteelSky Ventures, WCC Partners, LightShip Capital, GingerBread Capital, and Portfolia.
MFB Fertility said in a statement that the funding will be used to support its Proov Complete product, an at-home hormone testing suite for FSH, LH, E1G, and pregnanediol glucuronide (PdG), female hormones found in urine that can measure ovulation quality, and a companion smartphone app.
The tests provide quantitative hormone results, and the Proov Insight app offers an end of cycle report that explains overall menstrual cycle results.
"With this funding, Proov is now poised to help women across life stages reach their goals faster and ultimately live better by increasing accessibility to key diagnostic and hormone health supporting solutions — both at home and in partnership with physicians," MFB Fertility CEO Amy Beckley said in a statement.
In June, the company received CE marking for its PdG test. It received clearance from the US Food and Drug Administration in March 2020.