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. Proov was created to empower women to know more about their menstrual cycles, ovulation health, and PdG levels.
Founder Amy Beckly, PhD in Pharmacology and expert in hormone signaling, responded to ongoing fertility challenges by tracking her own hormone levels at home.
Over the past few decades, fertility in the US
has become an often unspoken, but monumental issue. Despite that the US is a post-industrial nation, our birth rate and the average number of births have continued to decline rapidly since the late 20th century. In 1990 the birth rate was 60%, and now
it is closer to 18%. In addition, today 1 in 6 couples experience some sort of infertility, and that number is expected to grow to 20% by 2025.
The pricing and physical barrier to access for IVF and other in-office fertility treatments have allowed for the emergence of the at-home testing and monitoring market. COVID-19 has also left a mark on the consumers’ desire to have access to their medical care at home, OTC, and results on demand. Consumers are looking for more agency over their health data, and want the ability to make their own choices with their potential life-changing test results.
Twenty percent of fertility issues are due to ovulatory dysfunction, while 27% are entirely unexplained, (but could still be related to ovulation or hormonal impairment).
This means that up to 47% of infertility (3.5MM American couples) can be diagnosed with the Proov test.
The global fertility test market is valued at over $400MM today, and the fertility tracking market is valued at over $1.3Bn, and is projected to continue to grow at a CAGR of 7.2%. Infertility treatments are valued at over $2.1Bn, while the menopause market is valued at over $3Bn. More largely, the contraceptive and family planning market is valued at over $33.6Bn. Proov sits at an interesting inter- section of each of these markets, making its own market potential quite expansive.
Prior to acceptance into the Lightship Accelerator, the Company had just begun generating revenue of a low magnitude. Since cycling through Lightship programming and having access to our network and re- sources, the Company has exceeded $100K in monthly revenue, and realized $1.1MM in annual revenue in 2020. This revenue is a mixture of direct online ecommerce sales, small boutique sales, and sales through Target. For 2021, the Company is on target to double revenue in 2021.
© 2022 LIGHTSHIP CAPITAL