SAN FRANCISCO, Dec. 15, 2016 /PRNewswire/ -- The Flo app, a woman's period calculator that tracks and smartly predicts menstrual cycles, ovulation, and fertile days, raised $1 million in seed round funding. Led by Flint Capital along with the Haxus Venture Fund, the funds will further the product's global expansion and development of machine learning technology to become a personal health and wellness assistant for millions of women.
Flo already has more than 2 million active monthly users and app installations of 4 million. Approximately 45% of them are from the US and Canada, with other users from Brazil, Germany, and Italy, among others. By applying a neural network approach, the Flo app delivers high period forecast accuracy – an increase of 50% compared to traditional statistical models – for women who regularly entered full information about their lifestyle.
"Women's lifestyles should be analyzed in the context of their menstrual cycles," said Maxim Scrobov, CEO and Co-Founder of OWHealth, the parent company, which developed the Flo app. "The Flo app provides our users with perfect tools for this. They can analyze how their appetite varies throughout the cycle, examine the mood swings and physical changes. The approach will help women better 'understand' their bodies, and based on provided smart recommendations, it will encourage them to change their patterns to more healthy lifestyles."
"We're always looking to see how AI can be used to further simplify our lives, and if utilized properly, it is capable of improving the health of millions of women of all ages in the world," said Andrew Gershfeld, Partner of Flint Capital. "Another very important part is that we are very sensitive to the received personal data. We value that women voluntarily share such data, and the Flo team and we, as a lead investor, ensure that the data collected is stored according to the highest existing medical standards."
The Flo app was launched in October 2015. Currently, it holds the #1 position among all female calendars and period-tracking apps in the App Store and Google Play. The app is available in 19 languages on iOS and Android.
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SOURCE Flint Capital