Clue raises €7M and invites community to become owners

APR 04, 2023

The round was led by existing investors Balderton Capital and Union Square Ventures.

Clue, the female-founded, female-led, period tracker and reproductive health companion, today announces it has raised a €7 million funding round. The funds will be used to scale Clue’s innovative digital family planning offering, expand the product portfolio, and continue much-needed research efforts to close the gender data gap.

For the first time in its history, Clue will also extend an invite to its user community to become investors via Crowdcube. This move brings the company’s most important stakeholders, its community, even closer to the product development process while also giving them the opportunity to share in the company’s future success. Community investors will be able to participate in and influence the Clue app’s development through feature polls, testing, and forums directly with the Clue team.

Clue has always been supported by some of the world’s leading investors, who understand that empowering women with knowledge and data to take charge of their reproductive health is a huge opportunity. Not just an opportunity to build a strong and sustainable business, but also for overdue social change. Today, we’re taking that one step further, by being the first menstrual and reproductive health app to invite our community to invest and become co-owners.

Carrie Walter. co-CEO of Clue

11 million people in 190 countries rely on their Clue app every month, to better understand their own menstrual cycle patterns and learn about their reproductive health. While basic period tracking features are available for free, the premium subscription called “Clue Plus” offers subscribers additional evidence-based features and advanced insights. Subscribers also have access to modes like Clue Conceive, a CE-marked Clue feature to accompany users on their conception journey. The new mode has been warmly received with uptake growing by over 50% in the last three months, now accounting for 12% of paying Clue Plus users.

To meet the growing demand for non-hormonal contraceptive options, and with the goal of radically improving reproductive choice globally, Clue is focusing on scaling its digital female health and family planning tools. It will also expand its product portfolio to include underserved life stages, including menopause, to become a true companion app for life – from first period to last. 

We created Clue because health empowerment starts with better understanding your body. Having the language, and data, to describe your experience and advocate for yourself has a profound impact.

Audrey Tsang, co-CEO of Clue

Core to its mission, Clue will also continue research efforts to close the gender data gap. Since launching ten years ago, users have tracked over 530 million cycles and contributed to groundbreaking research with carefully selected research partners at institutions like Stanford and Oxford. A dataset of over 13B de-identified data points supports studies like investigating how the COVID-19 infection and vaccines would impact the menstrual cycle (to be published in the coming months). Insights from these studies are published for the benefit of Clue’s community, and everyone with a cycle.

Clue users will have exclusive access to participate ahead of the Crowdcube community on 18th of April 2023, before the crowdfund opens to the general public. Anyone in the UK and EU can invest and become an owner for as little as €10 or as much as €100 000, at the same terms as Clue’s institutional investors.

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