TMRW Life Sciences (TMRW), the creator of the only FDA-cleared automated specimen management and storage platform for frozen human sperm, eggs, and embryos, announced that it closed a $28+ million Series D equity funding round to meet high demand from fertility clinics seeking safe and more accurate cryostorage solutions. The funding round was led by 5AM Ventures with participation from FIOS Venture Holdings, DF Investment Partners, Transformation Capital, Life Sciences Innovation Fund, and Casdin Capital. And additional support came from leading women’s health investors such as GV (formerly Google Ventures), and actress and advocate Amy Schumer, and others.
Since its founding in 2018, TMRW has expanded from offering the world’s first and only automated on-site storage management solution to various on-site and off-site solutions. A pivotal moment in TMRW’s trajectory came in February, when a strange and tragic incident at a clinic in Alabama led to a surprising ruling from the state’s Supreme Court that put the entire industry on notice that mistakes in storage management could be catastrophic.
TMRW now has over 60 leading fertility clinic partners serving more than 39,000 patients with more than 260,000 frozen specimens under management, and this rapid adoption is only accelerating. And TMRW is quickly becoming a new standard of care.
Over 1 million frozen eggs and embryos are frozen in fertility clinics in the United States every year. And that growing volume of frozen specimens is overwhelming the legacy storage systems that fertility clinics have relied upon for decades. Fertility clinics are demanding new solutions to upgrade, optimize, and safely scale specimen management and storage.
TMRW is the only storage provider in the US offering a fully integrated technology platform that helps fertility clinics improve accuracy, reduce risk, reduce operational inefficiencies, increase revenue and reduce costs.
Plus, TMRW is also the only fertility cryostorage provider with an FDA-cleared specimen management and storage platform with over 25 years of transactions tested; HIPAA-compliant military-grade data security, SOC II compliance, and ISO and HITRUST certifications; and a platform that reduces potential points of failure by 94% compared to existing manual systems.
KEY QUOTES:
“5AM Ventures is proud to continue to invest in TMRW to support innovation, growth and expansion. With the use of fertility treatments growing exponentially, the adoption of state-of-the-art specimen management and storage technologies that help reduce risk and improve safety and accuracy for patients has never been more important.”
- Andy Schwab, Managing Partner of 5AM Ventures
“The management and storage of precious cells like sperm, eggs and embryos is too important to leave to antiquated systems developed in the last century. We are thrilled to have the continued support of such a distinguished group of investors fast-tracking our mission to transform specimen management and storage and our ability to execute on soaring clinic demand.”
- Louis Villalba, Chief Executive Officer at TMRW
