Legacy, a digital fertility clinic for men, announced it had secured $7.5 million in financing to support its goal of making male fertility services more accessible. This includes fulfilling two recently signed contracts to serve over nine million veterans.
Legacy previously raised over $40 million from a consortium including Bain Capital Ventures, FirstMark Capital, and celebrities like Justin Bieber, The Weeknd, Orlando Bloom, and DJ Khaled.
Led by a group of the world’s top fertility experts, Legacy offers sperm testing and freezing via at-home kits shipped directly to clients. More than 25,000 sperm samples have been analyzed at the company’s two andrology labs — more than at any other clinic.
Research has shown that the average global sperm count has declined 50% over the last 40 years and one in six couples are dealing with infertility.
This new funding round included TRAC.vc, a VC fund that utilizes an AI-powered algorithm to make investment decisions. And their algorithm deemed that Legacy had a higher likelihood of becoming a unicorn than 99% of startups evaluated by their methodologies due to the strength of their cap table and the high growth rate of the male fertility industry.
Along with serving the military, Legacy is trusted by institutions nationwide, including the Cleveland Clinic, NYU Langone Health, UnitedHealthcare, Aetna, Cigna, and other leading payers and providers.
KEY QUOTES:
“This is the issue of our time. Per recent studies, the average sperm count is declining about 26% per decade. In other words, we’re firmly on the path to sperm count zero AKA ‘spermageddon’, where we are functionally incapable of conceiving without the use of assisted reproductive technologies.”
“Our prediction has always been that within five years from now, sperm freezing will be as normal for someone to talk about as egg freezing is today.”
“In a challenging economic environment, this fundraise takes us to profitability, which means we’ll be able to grow and scale on our own terms.”
– Legacy CEO Khaled Kteily
“It’s a smart idea to preserve your fertility at its peak. Freezing sperm at its youngest and healthiest gives you a greater chance of having healthy children. It’s a great life insurance policy.”
– Dr. Ramy Abou Ghayda, urologist and Legacy’s chief medical officer
