MFB Fertility Receives Funds for Proov from Lightship Capital and Texas HALO Fund to Continue Educating and Empowering Women’s Reproductive Health
Proov is scaling up amidst COVID-19 in an effort to continue offering accessible fertility diagnostics technology into the retail market
BOULDER, Colo., (September 9, 2020) — Proov, an at-home hormone testing kit company, announces today they will continue their mission to help couples gain more insights about their pregnancy readiness from the comfort of home, with recent venture capital funding from Lightship Capital and Texas HALO Fund. These like-minded organizations have enabled underrepresented companies to thrive by providing resources and much-needed provision to the companies they invest in.
This investment comes on the heels of Proov receiving a $1.3 million contract earlier in the year from the US Air Force to help military couples who are trying to start a family. With this contract, Proov will provide free kits upon request to Air Force couples, and connect users with doctors specializing in fertility who may help them conceive naturally.
Because of COVID-19, the high demand for at-home testing kits has greatly increased. With the help of Lightship Capital and Texas Halo Fund along with additional angel investors, Proov will continue to accommodate this growing need for at-home testing kits. These efforts will assist in the creation of accessible, affordable care as well as develop innovative products for fertility diagnostics.
Lightship Capital, who invests in early-stage companies led by minorities and women, funded Proov in an effort to help support technology development and build out to make testing easier and more actionable than ever.
Texas HALO Fund’s investment, known for its focus on early-stage businesses with promising growth, funded the company to help Proov to better support its customers through the development and launch of new products and services.
“I am absolutely thrilled to be involved in Proov’s next phase of growth.” says Candice Brackeen, General Partner at Lightship Capital. “Amy is an outstanding alumnus of the first cohort of companies to complete Hillman, our non-profit impact accelerator-- so being behind Proov since 2018, then taking this second opportunity to make an even larger investment through Lightship Capital, really speaks to my belief that Amy and her team have the science, patents, and execution necessary to win.”
“With our investment in Proov, we are confident in the progressive research and developments that will continue to design innovative tools to provide counsel and resources to couples in need of fertility care, said Texas HALO Fund Managing Director, Kyra Doolan.
“This partnership between these two incredible VCs will allow us to continue developing and delivering fertility tools to the market and expand our product offering during a time where affordable and accessible health solutions are needed more than ever, said MFB Fertility’s founder and CEO, Amy Beckley. With technology evolving every day, our research and developments will accommodate these changes to deliver women the knowledge and application to their different reproductive health cycles.”
To learn more about Proov®, visit proovtest.com and learn more about PdG and the benefits of tracking it, visit https://proovtest.com/pages/faq.
About MFB Fertility, Inc.
MFB Fertility, Inc. developed Proov®, an at-home PdG test that measures the presence of progesterone metabolite PdG in urine to help a woman confirm that she has ovulated successfully. Originally co-founded in Boulder, Colo. by two women who both struggled to conceive, MFB Fertility was created to empower women to know more about their menstrual cycles, ovulation health, and PdG levels. Don't just predict ovulation, Proov it! For more information, please visit https://proovtest.com/.
About Lightship Capital
Lightship Capital is the largest of its kind venture capital fund empowering underestimated entrepreneurs and overlooked ecosystems across the US. Their approach to investing is motivated by the belief that economic justice and profit are simultaneously attainable-- so they find, fund, and educate underrepresented innovators and regions typically excluded from meaningful access to funding. Lightship Capital invests in early stage companies led by BIPOC, LBGTQ+, Women & people with disabilities who operate in the CPG, E-Commerce, Sustainability, Artificial Intelligence, and Healthcare spaces. To learn more about Lightship Capital, visit www.lightship.capital.
About Texas HALO Fund
Texas HALO Fund is an investment company that specializes in early stage businesses with promising growth prospects and exceptional management teams. Created to solve the diversification issue many investors face when pursuing early stage investing, Texas HALO Fund builds a portfolio of 20-25 deals in each of its funds across multiple sectors, including Tech, Consumer Products, Energy and Life Science. The Fund invests nationwide and has recently launched Texas HALO Fund IV. Learn more - texashalofund.com.