Elvie secures £5m Series A funding from Octopus Ventures and AllBright to drive international expansion
Octopus Ventures led the Series A round to fund geographic growth and the launch of a second device.
Elvie develops smart technology for women's health and lifestyle, including a connected pelvic floor exercise tracker.
Elvie has raised £5m in a Series A financing round led by Octopus Ventures, with participation from AllBright. The capital will support the launch of a second product and international expansion into 25 additional markets across America, Europe and Asia-Pacific before the end of the year.
The company previously secured £2.4m in seed funding and £1.2m through government grants. Best known for its pelvic floor exercise tracker, Elvie operates across 59 countries and achieved profitability within six months of launch.
From the founder
"Our mission is to become the leader in femtech by improving the health and wellness of women everywhere and at all stages of their life through smarter technology. The combined backing from Octopus and AllBright is a huge mark of credibility for Elvie. Octopus is the leading consumer tech investor in the UK and we’re proud to partner with such an experienced investor with strong expertise in taking British brands to the U.S. Elvie and AllBright share the same mission of advocating for female-led technology. Together we are committed to push the boundaries of innovation applied to women’s issues."
Tania Boler
Co-Founder and CEO at Elvie
Investor perspective
"With health and lifestyle mobile apps growing at an estimated 700% per year, we’ve only just scratched the surface of how intelligent technology can improve people’s health. Elvie is addressing an unrivalled market for women’s personal health and has already established itself as the leader in this category. In particular, Octopus focuses on backing unusually talented teams – and Tania and her team are exceptional. We’re thrilled to accompany them in this new phase of growth, rolling out in new geographies and extending the reach of what connected hardware can do for women’s personal health."
Simon King
Investment Manager, Octopus
Use of funds
- 01Expand into international markets
- 02Continue product development
