Clue, the female-founded, female-led, period tracker and reproductive health companion, 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. 

This latest funding round is led by existing investors, Balderton Capital and Union Square Ventures. 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.

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.

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.

Audrey Tsang, co-CEO of Clue, comments: 

“So many of us still end up hacking our own solutions to health needs. Despite making up half the world’s population, the most common female health conditions still go unrecognized, under-researched, and underserved. We constantly hear from our community that they feel their experiences are unheard or dismissed – except in Clue. 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. The fact that it still takes an average of seven years to get an endometriosis diagnosis is just one example of how much work there still is to do in this space. We believe Clue is uniquely positioned to lead the change that’s needed, at scale, by leveraging our technology, deep community insights, and research to create empathetic, effective, and accessible solutions for the most frequently experienced challenges in female health.”

Carrie Walter, co-CEO of Clue, comments:

“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. After all, Clue only exists to serve this community, and because of their trust. So we see this as an exciting chance to connect with them in another way, benefitting from the depth of their engagement and diverse perspectives. We feel it closes an important circle to give Clue users the opportunity to participate in our success, also as investors.”