Legacy startup raises $10m Series A to make male fertility services accessible to all
Legacy, the premier digital fertility clinic for men, announced $10 million in Series A fundraising led by FirstMark Capital. Rick Heitzmann, Founder and Partner at FirstMark Capital, who is a leader in digital health and has led investment across healthcare including the Series A funding for Ro (officially known as Roman Health Ventures), will join the Legacy Board. This marks over $15 million in funds raised from a top-tier group of investors that also includes Bain Capital Ventures, Section 32, Y Combinator, TQ Ventures, and Tribe Capital.
Rick Heitzmann, Founder and Partner, FirstMark Capital: "Legacy is taking a patient first perspective on the large growing and changing fertility market. As we have seen in Ro, putting the patient first and building trust is a key part of any relationship and it is especially important in healthcare."
Legacy serves as a digital-first solution for male fertility. Incubated at Harvard and backed by the world's leading male fertility experts, the company now offers an industry-leading suite of products including sperm testing, sperm improvement, sperm freezing, DNA fragmentation, and tele-health consults to clients.
Additionally, the company has partnered with the nation's largest insurers to create a new vertical that covers Legacy's services. Today, New York State residents are likely to be covered by their insurance, and by the end of 2021, 35% of all Americans will have access to sperm testing and storage through their insurers.
Khaled Kteily, Founder & CEO, Legacy: "Accessibility is one of our core values. We believe every person who produces sperm should be able to test, improve, and preserve their fertility. By operating at scale, we already charge prices less than half of traditional fertility clinics. And our first-of-their-kind partnerships with national insurers mean more people than ever before will get covered, with zero dollars out of pocket!"
Legacy provides access to a diverse range of clients, including couples trying to conceive, males going through chemotherapy or testosterone replacement therapy, transgender individuals looking to preserve their sperm, and military families hedging against dangerous deployments. Legacy is equally focused on its internal diversity, and with half of its employees being female, Legacy brings a unique perspective to how men and women think about family planning.