Less than a year after taking a small Series A extension, Future Family is back with $25 million in Series B funding.
Existing investors Aspect Venture, at.inc/ and OurCrowd were also in the round. The company received $150 million in total funding, which includes $100 million in a credit facility.
Future Family has been covered by us for nearly five years, and we followed the founder as she and her team set out to partner with clinics so that all of the pricing for procedures is worked out.
60-month loan plans range between $300 and $475 per month and cover things like clinic procedures, lab work and medications.
Tomkins said she expected a record amount of activity due to people waiting through the global Pandemic. Future Family saw its gross transaction volume jump by more than 300 percent in 2021. The company doubled its workforce.
She expects the pace of growth to go up even more this year and in the years to come. According to the CDC, 20% of Americans will need access to fertility care in coming years, and as people wait later in life to begin their families, 1 in 8 will experience age-related infertility. With the average cost of an IVF cycle being $12,400, it is natural that people would want to finance fertility treatments.
The Future Family will be able to expand its network, invest in staffing and explore new channels thanks to the new funding. Tomkins said there would be more news in the second half of the year.
Future Family was interested in raising in the second half of last year because of the company's strong performance. Future Family offers a unique solution, a buy now, pay later for healthcare, that makes sense and has easy monthly plans.
Demand for fertility services persists despite COVID-19 shutdowns
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