Femtech market has potential but struggles to score investor dollars

A new report from PitchBook projects solid growth in the industry, but also notes challenges in exits. Women’s health startups are starting to garner a lot of attention. However, a new report out of PitchBook found that the industry is still struggling to catch the attention of VCs, and has produced few exits.

“Only six femtech exits were completed in 2019; however, this still represents a 64% increase in exit value compared to 2018. The largest exits in recent years include Progyny’s (NASDAQ: PGNY) $130.0 million IPO and Procter & Gamble’s (NYSE: PG) acquisition of This Is L. for $100.0 million. Progyny’s stock has roughly doubled in the eight months since it went public,” the report reads.

Still, the authors of the report said that they see Femtech has a “solid growth outlook,” since there’s still many unmet needs in women’s health where tech could help.

As for funding, the report calculated that in 2019 femtech companies scored $592.1 million. That was down slightly from 2018’s $620.3 million. So far, in 2020, PitchBook recorded 57 deals and $376.2 million in venture dollars.