- TMRW, a Robotic Process Automation (RPA) platform company designed for in vitro fertilization (IVF), recently announced it raised $12 million in Series A
TMRW is a Robotic Process Automation (RPA) platform company that was designed for in vitro fertilization (IVF). Recently, TMRW announced it raised more than $12 million in Series A funding and made significant additions to its corporate, scientific, and advisory boards.
The Series A round of funding was led by Special Situations’ Life Sciences Innovation (LSI) Fund, which is a venture vehicle that is focused on next-generation solutions for the fertility industry. TMRW is one of the fund’s first investments and David Sable, M.D. — the managing director of the fund — has joined the Scientific Advisory Board. The family office of investor and philanthropist Glenn Dubin also participated in the Series A funding round.
TMRW co-founders Joshua Abram, Alan Murray, and Jeffrey Port are known as serial technology and life science entrepreneurs. And their immediate prior ventures sold for a combined sum of over $1 billion.
Fertility experts are estimating that in the coming decades, IVF therapies are going to be responsible for 200-300 million global births — almost all of which will rely upon frozen gametes and embryos. And the fertility industry is rapidly scaling with nearly $40 billion in market size projected by 2026 and an expected annual growth rate of 10.6%.
In order to meet growing patient needs, TMRW has created the world’s first complete RFID-based cryo-temperature (-310 F / -190 C) compatible digital chain of custody for fertility cells.
And TMRW’s RPA platform virtually eliminates the known risk of misdirected eggs and embryos with monitoring software that provides constant vigilance. Plus TMRW automates up to 17,000 daily environmental health checks for ensuring the well-being and security of the world’s most precious tissue.
“Fertility and population experts agree that by the end of the century, over 200 million people will be born through IVF. TMRW is committed to advancing technology that ensures this extraordinary demand can be safely met by fertility clinicians,” said Abram in a statement. “This capital will help us refine our technology, further expand our board and executive leadership team and make our technology available to fertility clinics worldwide.”
TMRW is experiencing rapid market adoption with several of the leading clinics in the nation that is committed to the platform.
Current TMRW clinic partners represent nearly 20% of total U.S. fertility cycles positioning TMRW to become a global standard for process automation.
“Our Life Sciences Innovation Fund invests in companies that will lead the expansion and growth in assisted reproductive technology,” added Dr. Sable, “With its advanced technology, TMRW can make IVF safer, more accessible and more affordable, both in the United States and worldwide. TMRW’s platform provides a necessary and elegant solution for clinics that are seeing an enormously growing demand to safely preserve vitrified cells.”
TMRW is projecting significant U.S. market share as IVF clinicians are embracing a platform that replaces an outdated analog IVF cryo-management function with a proven risk-mitigating platform.
And TMRW also expanded its corporate and scientific advisory boards. Along with the addition of Dr. Sable, TMRW also appointed Andrew Brooks (COO at RUCDR Infinite Biologics at Rutgers University) to the Chairmanship of its Scientific Advisory Board. Brooks — who is a molecular neuroscientist — has deep experience in advising leading U.S. and global institutions in Europe, Asia, and the Middle East on topics related to cryo-biology. And at the request of the government of Qatar, he is long involved in the Qatar Biobank and Genome Projects.
Tara Comonte and Robbie Myers have also been brought on as Independent Corporate Board Directors. Comonte is the CFO at Shake Shack and is overseeing all the aspects of Finance and Technology as the company continues to expand at a rapid pace in the US and across the globe.
And Myers served for 18 years as Editor-in-Chief of ELLE.