Max Levchin’s Glow Fertility App Raises $6 Million In Funding
Glow is a fertility app that helps a couple that want to become parents track ovulation cycles and other data points to predict peak fertility windows, according to AllThingsD. Glow has raised $6 million in venture capital funding from Founders Fund, Andreessen Horowitz, and Yuri Milner. Glow also tracks the cervical mucus texture.
Glow co-founders Max Levchin and Mike Huang created the company in order to disrupt the health-care system by creating an insurance fund to help fund women’s fertility treatments. Levchin is well known for being a co-founder of PayPal with his friends Peter Thiel and Elon Musk.
Glow app users can contribute $50 per month to the Glow Fund for a period of 10 months. If a women does not conceive within 10 months of using the Glow app, she can withdraw the money from the Glow Fund to pay for fertility treatments. If she does get pregnant, she will forest the contributions. Those contributions will go towards another person’s fertility treatments. Levchin put $1 million of his own money into the venture.
“We’re basically crowdfunding babies,” stated Levchin in an interview with AllThingsD.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry