Progyny Raises $10 Million to Support Strong Growth of Fertility Benefits Business

NEW YORK, May 02, 2017 -- Progyny, a leading fertility benefits company, today announced that the company has secured $10 million in Series B extension financing to support its mission of providing comprehensive and inclusive fertility benefits that help people have a child. The funding is being provided proportionally by all existing investors, including lead investors Kleiner Perkins Caufield and Byers (KPCB), TPG Biotech and SR One. This evidences their continuing commitment to the company and its unique approach to managing fertility treatments for its clients’ employees.

Progyny is the leading fertility benefits company that combines service, science, technology, and data to provide fertility solutions for employers. Progyny’s approach offers individuals a comprehensive treatment plan that is based on the latest medical science and technology. The company’s benefit plans are designed to improve outcomes, shorten time to pregnancy, and reduce total fertility-related costs.

“As more and more organizations are beginning to recognize the need to provide comprehensive fertility benefits to their employees, Progyny has a substantial opportunity to take advantage of this trend and to also make a significant impact on helping patients navigate the complicated world of IVF and egg freezing, as well as achieving their family-building goals,” commented Dr. Beth Seidenberg, KPCB Partner and Progyny’s Board Chair.

In the last fifteen months, Progyny has experienced substantial growth in the number of large employers utilizing its benefits to provide a better family-building solution to their employees. This new round of financing will be used to continue to grow the customer base and Progyny’s leading national network of high-quality fertility specialists, as well as the infrastructure and systems needed to support its revenue growth.

“Progyny’s approach to treating fertility issues with the most cutting-edge science and with the personalized care that patients need has been validated by its superior outcomes and strong patient satisfaction,” said David Schlanger, Progyny CEO. “Large employers understand that offering these services can be invaluable in attracting and retaining talent, as well as in helping their workforce achieve the best clinical outcomes. We are thrilled to see the ongoing confidence from our investors and the support of our vision to ensure that everyone can have a child when they want.”

For more information visit, www.Progyny.com.

About Progyny: 
Progyny is a leading fertility benefits company that combines service, science, technology and data to provide comprehensive value based fertility solutions for self-insured employers. Progyny’s benefit plans are designed to improve outcomes, shorten time to pregnancy and reduce total fertility-related costs. Progyny is privately held and is headquartered in New York, NY, with operations in San Francisco, CA. Please visit www.progyny.com.

Media Contact: Heather Aponte
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Phone: 646-965-0695